None of us will ever overlook 2020, nor will we miss it.
Our area actually suffered setbacks in 2020. All throughout the Golden Crescent, our small companies particularly struggled to remain afloat, not least in the course of the months of shelter-in-place and later the months of restricted capability.
And but, we at the moment are nicely into 2021, and sure, it’s been a little bit of a rocky begin to the brand new yr. However don’t lose hope.
By now, people ought to have acquired the stimulus examine related to the federal aid bundle handed in December.
Congress additionally handed a brand new spherical of Paycheck Safety Program (PPP) funding to the tune of $284 billion. The Small Enterprise Administration (SBA) started accepting functions for a few of these funds on Jan. 13. I’ve been encouraging our companies right here in Yoakum to use as quickly as attainable, even when they acquired a PPP mortgage in 2020. New and former recipients can apply at:
And let me take this chance to encourage all small companies throughout the Crossroads to submit an utility to take part on this spherical of PPP funding if it makes tax sense to your firm to take action. Please seek the advice of your personal tax, authorized and accounting advisers earlier than continuing.
Moreover, on Jan. 14, President Joe Biden unveiled the small print of a $1.9 trillion coronavirus aid bundle. Titled the American Rescue Plan, the bundle contains: funding for extra direct funds to most People, elevated unemployment advantages, a rise within the federal minimal wage, extensions on eviction and foreclosures moratoriums, state and native support, and support for Okay-12 faculties and establishments of upper training.
On the native degree, my financial improvement counterparts throughout the area and I are in conversations with our respective management about whether or not to revive the varied emergency aid applications carried out final spring and summer time. These usually are not straightforward selections. Not like the federal authorities, on the native degree, we can’t print our personal cash. To assist fund our emergency program final spring right here in Yoakum, we made the troublesome resolution to shift the entire funds that we had allotted for our common grants over to the emergency aid grants. That eradicated our capacity to supply monetary help to start-up companies, current companies wishing to broaden, or companies trying to relocate to Yoakum. Making the choice to do this once more, like I mentioned, just isn’t a straightforward resolution.
Sure, 2020 was tough. And sure, we’re nonetheless within the throes of a pandemic. However vaccines are being distributed in ever-increasing numbers. And really slowly however absolutely the economic system is rebounding. As I mentioned earlier than, we should preserve our hope. And we should do not forget that God just isn’t up in heaven, wanting down, and yelling out, “Oops, I had no concept a pandemic was going to interrupt out in 2020.” No, our Lord has by no means uttered the phrase, “Oops,” and he by no means will. And as unhealthy as 2020 was and as shaky as 2021 has began, his promise that he causes all issues to work collectively for the nice of those that love him, to those that are referred to as in line with his function will eternally maintain true. And in his title, we’ll hope.
Terry Stokes is the chief director of the Yoakum Financial Growth Company and the chair of the Golden Crescent Regional Planning Fee’s Regional Financial Growth Advisory Committee. Contact him at firstname.lastname@example.org.