Happy New Year!
Holiday Passport Competition
Business Passports were due via the Chambers’ drop slot on December 24th to be considered for entry in the drawings. Thank you to all who participated! We will be announcing the winners next week, so stay tuned. Community Local Option Tax funds helped make this competition possible.
Facebook Live Member Showcase
Our goal was to showcase Members for the holiday months of November and December. However, if you would still like to showcase your business please let us know and we’ll do our best to accommodate your request. If you haven’t seen any of the showcases, do take a second to watch one. Contact Dylan at (208) 993-0672 or dylanbusinessman@gmail.com to schedule.
Are you wondering if these showcases actually benefit your business? Read the testimonials below from a couple of our Members who participated! Stay tuned for more testimonials to come.
Pattie Dahl – Computer Zen:
“I just wanted to say how amazing we did after Dylan was here for the Chamber. We had so much fun, and in the coming days we were really busy with sales. We sold a lot of the Nintendo games and other science stuff for kids. The adults who came in couldn’t believe what we had. Thank you again Dylan and the GSV Chamber for doing this. Merry Christmas and Happy New Year!”
Celeste Graham & Paula Kerner – Purple Easel Gallery
“We thoroughly enjoyed making this video with you. Your participation in the making of this video helped ease our nervousness and we were able to have fun showing the gallery to you and all the Facebook Followers. Due to this video, foot traffic and sales have increased in the gallery, and, our Facebook Page numbers are on the rise. We thank you for this opportunity and are looking forward to making the next video. Wishes to you for a Happy and Healthy New Year.
COVID-19 Federal Relief Bill
We wanted to highlight some important information as small business owners about the “Bipartisan-Bicameral Omnibus COVID Relief Deal”. Please note that we sourced this information from the Small Business Development Center, U.S. Travel Association, U.S. Chamber of Commerce, and the Small Business Association. This bill is continually evolving and we will do our best to give you accurate information, but in case we missed something feel free to read the full bill here: COVID-19 Relief Bill.
Expansion of Payroll Protection Program
- Relief includes an additional $284 billion for the Paycheck Protection Program (PPP) for small businesses, created under the original Coronavirus Aid, Relief, and Economic Security Act (or CARES Act) in March.
- Provides additional funding for those businesses that did not receive PPP money in the first round. This includes 501(c)6 nonprofits and local newspapers, along with TV and radio stations.
- $15 billion reserved for live venues, independent movie theaters and cultural institutions.
- Allows businesses a second chance at PPP money if businesses can show losses of 25% or higher in 2020 over their 2019 revenue.
- Operations Expenditures are Covered.
- Covered supplier costs.
- Covered worker protection expenditures.
- Group life, disability, vision and dental insurance are included as payroll costs.
- All the original covered expenses, including payroll, interest on covered mortgage obligations, rent and utilities are still eligible for forgiveness.
Please view the U.S. Travel Association Relief Summary for a more detailed highlight on the PPP and more.
How to Prepare?
Make sure your financial institution is doing PPP loans. To view a list of participating lenders in Lemhi County, please click here: Lemhi County Lenders.
If they do handle PPP loans, ask to be alerted when the loan portal opens up and ask what information they anticipate needing.
If not, reach out to banks or credit unions that are willing to process PPP loans for new customers. Save valuable time by opening up a business account now.
Update your business financial statements and payroll data so you are ready when the financial institution is ready to open its PPP loan application online portal or other process.
Have conversations or set up appointments now with your CPA and/or payroll provider to make sure the anticipated documentation is complete and correct. Incomplete or erroneous documentation can slow down the PPP loan approval and closing process.
Please click the button below for more information on the relief package.
Renewed Chamber Members
Total GSV Chamber members = 97
January Events Calendar
Please feel free to print these calendars for your home or business! View them here: Printed events calendar.
