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The Economic Aid Act The Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act is a $325 billion aid package providing additional assistance to the hardest-hit small businesses, nonprofits, and venues struggling to recover from the impact of the COVID-19 pandemic. The act provides funding for a second round of forgivable loans through the [...]
SALT LAKE CITY, UT (December 7, 2020) -- The Salt Lake Chamber sent the following letter to Utah’s Federal Delegation outlining the current state of small business in Utah and request leaders to work towards a bipartisan stimulus deal to bridge the gap until vaccine’s distribution: “While Utah’s economy remains on stronger footing than most [...]
The good news is that Bloomberg ranked Utah first in the nation for SBA loans awarded as a percent of eligible payroll at 97.5% meaning those eligible have been receiving those loans. Utah Bankers have processed 47,046 loans totaling $5.5 billion in PPP funds to Utah businesses. Now the conversation has turned to PPP loan [...]
The Utah Economic Response Task Force is committed to providing Utah businesses with the most relevant and up-to-date information regarding the many Federal programs and resources available. The $484 Billion Interim Economic Stimulus Package was passed by Congress and signed into law by President Trump on April 24, 2020. Highlights include another $310 billion to replenish the Paycheck Protection Program (PPP) for small businesses [...]
Important Update: On Tuesday, April 21, 2020 the U.S. Senate passed a $484 billion interim emergency bill including an expansion of funding for small businesses. The bill is currently with the House and, once passed, will be sent to the President for his signature. Please keep an eye out for additional information in order to [...]
Since launching into action last Wednesday, the Utah Economic Task Force Rapid Response Team (RRT) has helped more than 1,000 Utah companies find solutions to Covid-19 business challenges. The RRT, which is comprised of 50+ local volunteers, has identified the top 4 frequently asked questions to share with the business community. To receive assistance from [...]
Chamber Members, All across Utah, families, workers, and business owners are facing extraordinary challenges as a result of COVID-19. And to better understand the financial burdens you all are facing, I’ve held calls and virtual meetings to speak with members of your chamber, as well as with chambers and employers across the state. These calls [...]
Small business owners encouraged to contact a lender and apply for the Paycheck Protection Program through the Small Business Administration Salt Lake City, UT (April 7, 2020) – Small business owners were strongly encouraged to apply for financial assistance through the recently passed Paycheck Protection Program by Governor Gary Herbert and Economic Task Force Chair Derek [...]
Can I really expect to get a loan today? The application for the program was distributed to financial institutions the evening of Thursday, April 2. Financial institutions are integrating these forms in order to submit applications as soon as possible. Whether or not your loan is approved today will rely on the ability of the [...]
