Coronavirus Aid, Relief and Economic Security (CARES) Act info

The Coronavirus Aid, Relief and Economic Security (CARES) Act provides for a $1,200 one-time direct payment to individuals earning up to $75,000 and $2,400 for married couples earning up to $150,000, plus $500 for each child under 17. The payment is reduced by $5 for every $100 of income above $150,000 for a married couple, $112,500 for a head of household filer, and $75,000 for an individual. The payment is not considered taxable income.

The IRS has not yet announced a schedule of when these payments will be issued. The IRS will provide updated information on its website when this information is available:

The IRS will use 2019 tax returns to set payment amounts. If you haven’t filed your 2019 taxes yet, 2018 tax returns will be used. When available, electronic deposit will be used in place of mailing a physical check. Electronic distributions will be automatic to an account the payee authorized January 1, 2018 or later.

You must have a Social Security number to receive a payment. Any person who is claimed as a dependent on a tax return is not eligible for a payment. Individuals receiving Social Security, Supplemental Security Income (SSI) or veterans benefits are eligible for this payment.  If you have not filed a tax return recently, you are still eligible for the payment though you may need to take additional steps to receive it. The IRS will conduct a public awareness campaign to reach non-filers and provide them with additional information on how they can access the payment.

Further information on the CARES Act can be found through these links:

Committee on Small Business CARES Flow Chart

Small Business Owners Guide to the CARES Act final


Unemployment Compensation FAQ CARES Act

Disaster COVID-19 Business Lending 201 Update 3/30/20

Disaster COVID-19 Business Lending 201

With the passage into law of the CARES Act business owners will soon have the following options available to them for financial assistance.

The primary resource currently remains the SBA EIDL program. This program now consists of two interrelated levels. Additionally there are options for lending via SBA approved local lenders.

While we await the details and instructions on each of these options from the US Small Business Administration, the important information we know from Congressional communications is listed below:

  • Economic Injury 
      1. The Economic Injury Disaster Loan (EIDL) available through December 31, 2020; this is a low interest, long-term loan that has a detailed list of requirements.
        1. It is a working capital loan that covers the gap between expenses and revenues for the period from 1/31/20 to 12/31/20 (whether that be a complete or partial reduction of revenues from the same period last year). It does not cover lost sales
        2. It will take into consideration other loans that you have secured in relationship to COVID-19. So all loan/financing options should be considered in concert.
      2. The Emergency Economic Injury Grant (EEIG) is the newly added component that allows a business to request a grant up to $10,000.
        1. The SBA is updating their online application system over the coming days to incorporate this request when businesses apply for the loan.
          1. In the interim, businesses can still apply for a full EIDL (loan) but will need to reapply (to request the grant/advance) when the system is updated and has one streamlined application process. At that point, the request for the grant/advance will be included in the EIDL application process.
          2. The advance does not need to be paid back under any circumstances.


  1. The SBA EIDL is applied for on-line via the SBA portal and has two components:
  2. Debt Relief Programs
    1. The Small Business Debt Relief Program covers the SBA 7a, 504 and Microloan Program. These loans can be used for short and long-term working capital.
    2. The SBA Express Bridge Pilot Program allows small businesses that currently have a relationship with an SBA Express Lender to access up to $25,000 with less paperwork. These loans can help small businesses overcome the temporary loss of revenue they are experiencing and can be a term loan or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan.
  3. This is a group of SBA loan vehicles that will be accessed through SBA approved lenders in Vermont. These will work in concert with the EIDL and any funds lent through these programs will be considered as mitigation of the final amount lent via the EIDL. These include:
  4. The Paycheck Protection Program (PPP) available through June 30, 2020; is a loan specifically designed to cover payroll and payroll expenses for employers who maintain their workforce during the COVID-19 emergency. This loan will also be available thru SBA approved lenders. There will also be some local lending coming on line in the next couple of weeks as RDC’s and Towns work to re-orient their current lending programs to address the disaster. These will be smaller amounts that should be seen primarily as bridge loans while applications for the above are in process. We are, collectively, strategizing on how to best utilize these funds to help businesses as part of a broader strategy with the current Federal programs and others that may still emerge.

As part of your preparation to apply for any loan/financing option, you should make sure the following is in order and all documents are ready to be uploaded electronically:

  1. A list (diary or narrative) of actions that you have taken in response to COVID-19, and direct impact you have seen. For example: 3/17/20 “laid off 2 employees” {names, # of hours typically worked and pay rate} and directed them to unemployment. Return to work date given with the date). This list will help identify economic impact.
  2. Have the following financial records up to date:
    1. Profit and Loss
    2. Balance Statement
    3. Sales records for 2019 and 2020 to date (this should come from QuickBooks or your POS or whatever system you use to capture daily income). Showing the actual impact on revenues is the basis of economic impact lending.
    4. Three years of completed tax returns (personal and business). If 2019 is not complete, then a 2019 Profit & Loss Statement.
    5. Up to date Accounts Payable.
    6. Up to date Accounts Receivable.
    7. An up to date list of your collateral (including your personal real estate) with item description and current replacement value.

A list of monthly expenses/revenues projected for the next 9 months. These can be estimates and can have multiple scenarios depending on whether you are staying open at full capacity/reducing open hours/closing. At this point this should be constructed based on your Profit and Loss for the same months last year: March – December.

Training materials will be forthcoming. Business assistance will continue to be provided by and available from VtSBDC ( and the Regional Development Corporation in your region.






Small Business Owners Guide to CARES Act

The programs and initiatives in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was just passed by Congress are intended to assist business owners with whatever needs they have right now. When implemented, there will be many new resources available for small businesses, as well as certain non-profits and other employers. This guide provides information about the major programs and initiatives that will soon be available from the Small Business Administration (SBA) to address these needs, as well as some additional tax provisions that are outside the scope of SBA.

To keep up to date on when these programs become available, please stay in contact with your local Small Business Administration (SBA) District Office, which you can locate here.

Click this link to access the Guide:

Small Business Owners Guide to the CARES Act final



COVID-19 Update from GMEDC

The Board of Directors and staff at GMEDC joins all Vermont’s Regional Development Corporations (RDCs) and Regional Planning Commissions (RPCs) to assure the public we are communicating on a constant basis and taking direction from the Governor’s office and the Agency of Commerce and Community Development to best inform and guide our residents as well as our guests with current directives and recommendations. The following website link is the best source of information available barring none:


As we work through this horrible ordeal, we are urging everyone to please remain calm and sensitive to the needs of each other and especially those of our First Responders and medical providers, as we practice social distancing to the maximum extent possible and self-isolate if ill.


Business owners who intend to apply for loans from federal, state or local sources should carefully assemble their records and familiarize themselves with the loan applications posted on-line (see above). This will best prepare them for a successful and rapid outcome, as experienced post Irene. Nobody knows yet the full extent of this pandemic and rushing to apply too soon could prove to be detrimental. This is the advice we are being asked to circulate.


Our staff of two (Bob and Mark) are working remotely but are happy to provide advice and referrals as quickly as we can, but please familiarize yourself with the information available on-line before you contact us. We manage two small loan funds ourselves (Hartford Business Revolving Loan Fund – Hartford only, and a USDA Business Disaster Loan Fund – businesses in our 30 towns in Orange and Windsor County) that we can explain to you. As you must imagine, we are swamped and doing our best to respond to a changing situation. None-the-less, we remain eager to help if we can, as we can.  


Please stay safe and be well,


Bob Haynes, Executive Director

COVID-19 Guidance for Vermont Businesses from ACCD



As a follow up to the Governor’s Executive Order, the Agency of Commerce and Community Development (ACCD) and the Department of Labor are assessing and responding to the community impacts of COVID-19 on Vermont businesses.

First and foremost, ACCD and the Department of Labor urge all businesses and their employees to follow the latest guidance from the Vermont Department of Health and U.S. Centers for Disease Control (CDC).  The most current information can be found here

Department of Labor Guidance

The Department of Labor will be issuing guidance for Employers and Employees, including information on the potential impact on unemployment insurance benefits, employee sick-time and other issues as a result of COVID-19. More information and further updates can be found at

Business Impact and SBA Loans

ACCD is asking any Vermont business impacted by the response to the COVID-19 virus to share these impacts with the Agency through a dedicated email address:

In addition, the Coronavirus Preparedness and Response Supplemental Appropriations Act recently passed by Congress expanded the Small Business Act’s definition of a disaster to include Coronavirus (COVID-19).  As a result, the SBA will be able to provide Economic Injury Disaster Loans (EIDLs) under a Governor’s Certification Disaster Declaration. In order for the SBA to consider an EIDL declaration, the Governor must demonstrate that at least five small businesses in a disaster area have suffered substantial economic injury as a result of the disaster.

The Agency is working to identify businesses that meet the Small Business Administration’s threshold for SBA disaster loan assistance.  Businesses are asked to complete an assessment form (available on the ACCD website at and return it to as soon as possible to help us advocate for eligibility. Our goal is to gain information in each of the 14 counties across the state.  We are looking for data on impacts in the following areas:

  • Economic Injury
  • Supply Chain
  • Workforce (Including that caused by lack of childcare)
  • Business Travel
  • Visitor Travel and Tourism Activities
  • Remote Work Capabilities

The Agency has also established a hotline so that businesses may call to report impacts and be directed to resources: (802) 461-5143. The hotline will be staffed Monday through Friday, 7:45 a.m. – 4:30 p.m.

Stay Up to Date

ACCD and the Department of Labor are working to keep you updated whenever new information becomes available.  We encourage you to sign-up for our Business and Economic Response to COVID-19 Newsletter.

For more information on Unemployment Insurance: UI Employer Services – 802-828-4344

For general Department of Labor Questions: Department of Labor Commissioner’s Office –





Ted Brady Deputy Secretary Vermont Agency of Commerce and Community Development (802) 622-4200 On the Web at

Check out the new


SBA To Provide Small Businesses Impacted by Coronavirus (COVID-19) Up to $2 Million in Disaster Assistance Loans





Release Date: March 12, 2020                              Contact: (202)205-7036

Release Number: 20-24                           Follow us on: Twitter, Facebook, Blogs & Instagram


SBA To Provide Small Businesses Impacted by Coronavirus (COVID-19) Up to $2 Million in Disaster Assistance Loans

WASHINGTON – SBA Administrator Jovita Carranza issued the following statement today in response to the President’s address to the nation:


“The President took bold, decisive action to make our 30 million small businesses more resilient to Coronavirus-related economic disruptions. Small businesses are vital economic engines in every community and state, and they have helped make our economy the strongest in the world. Our Agency will work directly with state Governors to provide targeted, low-interest disaster recovery loans to small businesses that have been severely impacted by the situation. Additionally, the SBA continues to assist small businesses with counseling and navigating their own preparedness plans through our network of 68 District Offices and numerous Resource Partners located around the country. The SBA will continue to provide every small business with the most effective and customer-focused response possible during these times of uncertainty.”


Process for Accessing SBA’s Coronavirus (COVID-19) Disaster Relief Lending


  • The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Upon a request received from a state’s or territory’s Governor, SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, an Economic Injury Disaster Loan declaration.
  • Any such Economic Injury Disaster Loan assistance declaration issued by the SBA makes loans available to small businesses and private, non-profit organizations in designated areas of a state or territory to help alleviate economic injury caused by the Coronavirus (COVID-19).
  • SBA’s Office of Disaster Assistance will coordinate with the state’s or territory’s Governor to submit the request for Economic Injury Disaster Loan assistance.
  • Once a declaration is made for designated areas within a state, the information on the application process for Economic Injury Disaster Loan assistance will be made available to all affected communities.
  • SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
  • These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%.
  • SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.
  • SBA’s Economic Injury Disaster Loans are just one piece of the expanded focus of the federal government’s coordinated response, and the SBA is strongly committed to providing the most effective and customer-focused response possible.

For additional information, please contact the SBA disaster assistance customer service center. Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail




About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit


Town of Randolph’s Request for Proposals – Local Hazard Mitigation Planning Services

Request for Proposals

Local Hazard Mitigation Planning Services

The Town of Randolph, in Orange County, Vermont, seeks the services of a qualified consultant to

create a new Local Hazard Mitigation Plan for the Town of Randolph (2010 pop. 4,778). A final

draft is to be completed no later than August 10, 2020. The plan approved by the Randolph

Selectboard will be submitted to the Federal Emergency Management Agency (FEMA) for approval.

Please contact Adolfo Bailon, Town Manager, with any questions regarding this request for

proposals. Inquiries may be made through email at Please include “LHMP

RFP” in the Subject line.



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