RDCs of Vermont to Deliver $1.17 Million in Small Business Technical Assistance

On September 18th, Governor Phil Scott and Lindsay Kurrle, Secretary of the Agency of Commerce and Community Development, announced the distribution of $2.5 million in federal CARES Act funding for Restart Vermont Technical Assistance. This funding will deliver robust support to Vermont businesses impacted by the economic downturn due to COVID-19. The funding, allocated by the Vermont General Assembly in Act 137, leverages existing statewide and regional assets to reach a broad range of companies and non-profits in every sector and region.

The Regional Development Corporations of Vermont (RDCs of VT) were among five organizations selected to implement Restart programming. The RDC program, Restart Vermont Technical Assistance (ReVTA), will leverage a regional and statewide network of for-profit and non-profit technical assistance providers to help small businesses. Each RDC will deploy a Recovery Navigator to work one-on-one with businesses and determine the best form of technical assistance to help each business on its path to recovery. The Navigator, client business, and technical assistance providers will develop a scope of work appropriate to solving the client’s issues. The cost of the work will be covered by the grant. The program is expected to assist over 250 businesses with grants averaging $3,000.

In Northern Windsor and Southern Orange Counties, the ReVTA Program will be administered by the Green Mountain Economic Development Corporation (GMEDC). Businesses that have been affected by the COVID-19 pandemic and would like to receive technical assistance as well as professional businesses that can provide technical assistance should register to participate in the program at: www.VermontEconomicDevelopment.com.

It is estimated that 250 businesses will receive technical assistance through the ReVTA program between now and December 20th, the deadline to expend CARES Act funds. Technical Assistance providers and affected businesses are encouraged to register now.  Links to registration, webinar training, and more information about the RDCs of Vermont’s Restart Vermont Technical Assistance Program can be found at: www.VermontEconomicDevelopment.com.

VT CDBG Cares Act Sole Proprietor Stabilization Grant Program Set to Launch

FOR IMMEDIATE RELEASE July 16,2020 Contact:

CDBG-CV@trorc.org

CDBG-CV@brattleborodevelopment.com

Vermont Community Development Block Grant (CDBG) Cares Act Sole Proprietor Stabilization Grant Program Set to Launch

The current pandemic and necessary resulting public safety measures have taken a toll on businesses of many kinds in the State of Vermont, including Sole Proprietors. In order to provide some relief to the economic pain that Sole Proprietors have had to endure, the launch of an economic relief grant program has been announced which will provide grants of $5,000, $7,500 or $10,000 to qualifying Sole Proprietors through a Lottery draw. The program is funded through $1.5 million from the U.S. Housing and Urban Development’s CDBG Program, and passed through the Vermont Agency of Commerce and Community Development (ACCD). The application window will open Monday, July 20, 2020 and grants will be awarded through a lottery system on August 14, 2020.

 

Brattleboro Development Credit Corporation (BDCC) will be administering funds for the counties of Windham, Bennington, Rutland, Addison, Washington, and Lamoille. Two Rivers Ottauquechee Regional Commission (TRORC) will be administering funds for the counties of Windsor, Orange, Caledonia, Essex, Orleans, Franklin, Grand Isle, and Chittenden. This Program will use the Vermont based software development firm, Storm Petrel, LLC, and its Tempest-GEMS grant management application.

 

Among eligibility criteria businesses must:

  • Be a Sole Proprietor, do not issue W-2s to any employees.
  • Be a for-profit entity.
  • Have a physical establishment (mailing address only is not sufficient) in the Vermont city/town of application.
  • Provide goods or services to multiple clients or customers.
  • Have annual gross revenues greater than $25,000.
  • Have been legally established prior to or as of January 1, 2020.

Program breakdown, full eligibility requirements, application materials and timelines, as well as technical assistance and FAQs can be found at: https://www.vermont-cdbg-cv.com/

 

This program requires an applicant to have a DUNS # prior to registration for access to the grant management application. To request a free DUNS # go to Dun & Bradstreet at https://www.dnb.com/ Potential applicants who meet all program criteria are strongly encouraged to start the DUNS # application process prior to the pre-application start date of July 20, 2020.

 

The registration window will be open from July 20, 2020 until July 27, 2020 and the Grant Application submission window will be open from July 20, 2020 until July 31, 2020. The lottery will take place on August 14, 2020.

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CDBG-CV Press Release Final

Orange County COVID-19 Recovery Forum: From Recovery to Renewal and Resilience July 21st

Orange County COVID-19 Recovery Forum: From Recovery to Renewal and Resilience

 

On July 21st from 6:30-8:30pm, the Local Solutions and Community Action Team established by Governor Phil Scott invites you to join a virtual COVID-19 recovery discussion to connect with others in Orange County to:

  • Share challenges and ideas for community response and recovery
  • Connect to others working to respond, recover, and build long-term resilience
  • Meet with a “visiting team” of state, federal, business, and non-profit leaders who will share recovery strategies from across the state and ideas for resources and support.

 

To Register Visit: www.vtrural.org/recovery/orange

 

Agenda:

6:30pm – Opening Session

6:40pm – Breakouts

  • Supporting Orange County Businesses & Buying Local
  • Addressing Housing & Homelessness
  • Advancing Education & Childcare
  • Overcoming Isolation & Building Community Unity

8:10pm – Closing Session

 

All ARE WELCOME. Coming together to discuss recovery strategies and build ongoing resilience is vital and your voice is critical. Registration is required: vtrural.org/recovery/orange. Once you are registered, you will receive instructions to join via computer, mobile device, or phone.

 

For assistance with registration contact info@vtrural.org or 802-223-6091.

 

Recovery Visits  are hosted by the Local Support and Community Action Team of the Governor’s Economic Mitigation and Recovery Task Force, in partnership with regional and local leaders, with facilitation from the Vermont Council on Rural Development.

RV-OrangeCountyFlyer

 

Disaster COVID-19 Business Lending & State of VT Grants 1001 July 9, 2020

Attached please find another updated guidance (updated July 9th, 2020) from VtSBDC and the Vermont RDCs with regard to the State of Vermont Grants and the SBA grant and loan programs to help you through the process. Updates are highlighted in yellow.

Disaster – Business 1001 7.7.20 VtSBDC v4

Mark Condon

Executive Assistant/Officer Manager

Green Mountain Economic Development Corporation

mcondon@gmedc.com

office: 802-295-3710

cell: 347-247-8098

VT Economic Recovery Grants Application Portals are OPEN!

The APPLICATIONS PORTALS ARE OPEN for the Vermont Economic Recovery Grants (as of 8:00am July 6, 2020)

Part one of the program is for businesses in two categories who have suffered more than a 75% identifiable loss due to COVID-19.

  1. One category is for businesses who pay sales and use or meals and rooms tax. Your access to the application process will be thru your current on-line tax account at:

https://www.myvtax.vermont.gov/_/

    1. Log into your account and click “Apply for a Vermont Economic Recovery Grant” under the “I want to” section on your account landing page.
  1. Filing after logging in to your account will streamline the application by prefilling much of your business information and will also allow you to request your grant be issued by a direct deposit to your bank account.
  2. You will also receive information about the results of your application faster.
    1. If you do not have a myVTax account: You may still apply without creating an account. From the myVTax homepage, click “Apply for a Vermont Economic Recovery Grant” on the bottom of the page.
  1. The second category is for all other businesses (with the sector exceptions that have their own funds and applications {Agricultural producers and processors; health care providers, child care, government entities, forestry, and sole proprietors} that are listed in both the slide deck link below and on the ACCD site link).
    1. The Application will be accessed via the ACCD:

https://accd.vermont.gov/covid-19/economic-recovery-grants

    1. Businesses are required to provide PDF copies of the following documents (these must be in PDF format so make sure you have these ready as PDF’s):
  1. 2019 income statement in monthly intervals
  2. 2020 income statement in monthly intervals
  • 2019 federal tax return (or Form 990 for organizations exempt from income taxation)
  1. 2019 Vermont state tax return.

The ACCD has prepared two documents to assist you in this process. We recommend you review these in detail.

  1. A slide deck (from the webinars on 7/2 & 7/3)):

https://accd.vermont.gov/sites/accdnew/files/documents/economic-recovery-grants-overview-webinar-slides.pdf

  1. A FAQ list:

https://tax.vermont.gov/coronavirus/grants-faqs

 

Part Two of the program as defined by legislation H.966 will add monies to the above grants and also earmark monies for women and minority owned businesses. In addition the required loss that must be proven will be reduced from 75% to 50% or greater loss.

We are awaiting a look at the full applications. As soon as we have them we will be providing further details.

 

Best,

 

Ross Hart
Area Business Advisor
Vermont Small Business Development Center (VtSBDC)
36 Eastern Avenue, PO Box 630
St. Johnsbury, VT 05819

35 Railroad Row, White River Jct., VT  05001
(802) 535-4240 (cell)
rhart@vtsbdc.org
www.vtsbdc.org

 

Response, Recovery, Resilience

Coronavirus & Your Business…We’re Here to Help

https://www.vtsbdc.org/coronavirus/

 

Black Lives Matter

Sometimes it takes searing events to shake us out of complacency.  We have been deeply shaken over the past several weeks.  In one of the whitest states in the nation, it can be easier to forget that racism exists, yet people of color here and all over the country experience it in lesser and greater ways, every day of their lives.

As a publicly focused non-profit corporation and as individuals, GMEDC is looking inward, examining our implicit biases, and our own history within the tapestry of institutionalized oppression and systemic racism. This is not an easy time, but we are willing to accept the discomfort of painful discussion to help us effect meaningful changes.

GMEDC’s Board of Directors and staff are firmly committed to help our communities, organizations and businesses work toward a more inclusive and anti-racist future. We hope our colleagues are doing the same and are taking time to reflect on this critically important subject and leading by example.

Important Sector-Based Webinars Regarding the VT Economic Recovery and Relief Package

Vermont Economic Recovery and Relief Package Announced

On May 20th Governor Phil Scott proposed a $400 million economic relief and recovery package, using federal CARES Act funds.  The two-phase proposal will start with $310 million for immediate relief to the most impacted sectors and businesses to be followed by $90 million for long-term recovery efforts.  The Agency of Commerce and Community Development and the Governor will now work with the legislature towards passage of this historic relief package.  Full details of the plan can be found at the ACCD Recovery Resource Center.

ACCD is also hosting a series of sector-based webinars to help explain the relief and recovery package and how it will support various sectors throughout the economy. We welcome all to take part in the general or sector-specific presentations over the next week.

 

GMEDC strongly recommends businesses take part in in the sector webinar that pertains to them:

 

All-Sector Presentation Thursday, May 21 from 3:00pm – 4:00pm

Restaurant Industry Presentation Friday, May 22 from 11:30am – 12:15am

Lodging & Tourism Presentation Friday, May 22 from 3:00pm – 3:35pm

Retail Industry Presentation, Tuesday, May 26 from 12:15pm – 1:00pm

Brewery/Distillery Presentation, Tuesday, May 26 from 3:00pm – 3:45pm

 

All the log-in information can be found HERE.

 

 

 

Updates from the Vermont Department of Economic Development

Greetings! I hope you are all staying healthy and safe as we navigate our way through these unprecedented times. A big heartfelt thank you to all of the sacrifices continuing to be made by all of you during this time. ACCD continues to provide resources, guidance and technical assistance to help businesses move into our new reality. Here are three things that should be on your radar:

  • The Governor today announced Phase I of the Economic Relief and Recovery Package – https://accd.vermont.gov/covid-19/vermont-economic-recovery-and-relief-package. It now needs legislative approval before becoming reality. Please share your thoughts and stay tuned for our scheduled briefings on the plan at http://accd.vermont.gov.
  • We have provided a Restart Vermont resources page to use as a roadmap to a better, safer and healthier tomorrow for employers, employees and customers alike. This applies not only to those businesses affected by executive orders, but to all businesses as we enter new phases in Vermont’s COVID-19 response. Please check it out and reach out with your questions and comments. A big thank you to those of you who have already contributed their thoughts, plans and ideas to us as we formulate the reopening of business.
  • Please take note that the Northern Border Regional Commission application deadline has been extended to June 1, 2020.

Until next time,

Joan Goldstein

Commissioner, Department of Economic Development

joan.goldstein@vermont.gov

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