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COVID-19 Small Business Resource News
 
Posted on Monday August 10, 2020
 
August 10, 2020: Additional financial support is available for neighborhood nonprofit organizations and small businesses.
 

August 10, 2020: Additional financial support is available for neighborhood nonprofit organizations and small businesses.

  • The Neighborhood Assistance Program (NAP) is a tax credit open to eligible neighborhood nonprofits until August 31st. Eligible neighborhood nonprofits can apply for NAP tax credits based on pending contributions from for-profit companies. A nonprofit must solicit corporate support to be eligible. Priority will be given to projects that address the effects of COVID-19 and provide opportunities for marginalized populations. Neighborhood organizations with an IRS 501(c)(3) designation are eligible for tax credits through this program, though please review DCED program guidelines for eligibility criteria. Eligible projects include: affordable housing, community economic development, community services, education, neighborhood assistance and conservation, crime prevention, job training, or charitable food assistance. Applications must be submitted through the DCED Electronic Single Application.
  • The $225 million COVID-19 Relief PA Statewide Small Business Assistance program will open for a second round in August. All applicants must apply through a Community Development Financial Institution (CDFI). 50% of grants through this program will be awarded to Historically Disadvantaged businesses. The program will also give extra consideration to women-owned businesses, communities targeted for business investment by state government programs like Main Street and Elm Street, and rural communities. To prepare to apply, please review eligibility criteria at www.pabusinessgrants.com.

Questions about DCED programs can also be directed to Aliyah Stanger, Director of DCED’s Southeast Regional Office, at [email protected] or (215) 560-5832. Additional information is available at DCED’s website.


July 15, 2020 -- The MontcoStrong Small Business Grant Program will begin accepting applications for funding under its third grant round starting at 10 a.m. Thursday, July 16, 2020 until approximately noon on Friday, July 17, 2020. The window is short, so visit  https://www.montcopa.org/3508/MontcoStrong-Small-Business-Grant-Progra for more information and to apply.


June 24, 2020 -- Montgomery County provides
Green Phase Reopening Guidance
for businesses and Pennsylvania provides answers to Frequently Asked Questions from businesses about COVID-19.


June 16, 2020 -- In late June, applications for COVID-19 relief to small businesses will be made available by the Pennsylvania Department of Community & Economic Development  through Community Development Financial Institutions (CDFIs). Approximately $225 million will be made available through this program. More information can be found on DCED's P A COVID-19 Relief Statewide Small Business Assistance Program webpage.


June 10, 2020 -- The Cheltenham Township Board of Commissioners adopted Ordinance No. 2410-20, an Emergency Ordinance temporarily granting restaurants the ability to have outdoor seating during Yellow Phase of the Pennsylvania Process for Reopening. For information about how your restaurant can add temporary outdoor seating, please contact the Planning & Zoning Department.


June 8, 2020 --The Paycheck Protection Program (PPP) Flexibility Act was signed into law on June 5, 2020. This Act provides more flexibility to the previous PPP by:
  • Extending the 8 week period borrowers have to spend the loan proceeds to 24 weeks
  • Reducing the payroll spend requirements from 75% to 60%
  • Extending the loan repayment period from two years to five years
  • Allowing businesses to delay paying payroll taxes even if they took a PPP loan
  • There are new exceptions for borrowers to obtain full forgiveness even without fully restoring their workforce.
If you have not applied for a PPP loan, money is still available and conditions are more advantageous. Follow the links for more information about the  Paycheck Protection Program and to find a Qualified Paycheck Protection Plan Lender.


June 7, 2020: The  video from the Economic Development Task Force's May 28, 2020 Virtual Town Hall for Cheltenham Township Small Businesses and updated resources for businesses have been posted on the  COVID-19 Business Resources Page.


May 31, 2020:  Yellow Phase Reopening Guidance from Montgomery County -- Montgomery County provides guidance for Yellow Phase business and social restrictions when Southeast Pennsylvania moves to the Yellow Phase on June 5, 2020.


The following Tax Deadlines have been extended:
The Township and County Real Estate Tax Discount Period deadline is June 3, 2020.
Penalties will be assessed on or after August 4, 2020.
The deadline for the 2019-2020 Mercantile and Business Privilege Taxes is now July 15, 2020.


 For a comprehensive list of business resources, please visit
   COVID-19 Business Resources.
 
 
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