Tag Archives: SBA
‘We need help’: January storms leaves Washington County businesses in dire straits
Barry Hutchins of Steuben is just one of many lobstermen in Maine who are reeling from the January storms. He’s been fishing since 1956, but he says his days of going out on a lobster boat may be over after he and his family lost their wharf in the storm. “The wharf – that’s where we got our bait, our fuel. Everything depended on that wharf, and it’s gone,” he said. Hutchins is not alone. Amity Chipman is co-owner of Chipman’s Wharf in Milbridge. “The coastal businesses in Maine – we’re bleeding,” she said. “We’re a strong, hardworking, and independent group. We’re not looking for a handout, we’re looking for a handup.” Video, more, >>CLICK TO READ<< 10:40
Sonoma County snags disaster relief designation for salmon fishery devastation
“Small businesses in Sonoma County that rely on salmon fishing for their livelihood were devastated when the fishery was shut down,” said county Supervisor Lynda Hopkins, whose district encompasses the Sonoma Coast. Hopkins added the business loans are intended “to help them recover. The SBA also lists other, bordering counties, with the presumption that those “may have suffered economic injury as well.” These include Napa, Marin, Solano, Mendocino and Lake. “We have lost 80% of our fleets in the last 40 years,” said Glen Spain, executive director of the Pacific Coast Federation of Fishermen’s Associations, which manages about a dozen fishing groups. He defined California’s $45 million fishing industry as being especially hard hit with state Fish and Wildlife’s permits dropping from 7,744 in 1980 to 1,006 this year. “These loans are trying to keep people intact as much as possible,” Spain said. photos, more, >>click to read<< 14:38
Peconic Bay bay scallop fishery – Scallop Disaster Declared, But Some Hope for 2022
Ask any bayman, and all would agree that the bay scallop fishery in the Peconic Bay estuary system in the past two years was a total calamity. As such, it was no surprise to learn that the United States Department of Commerce recently declared the events of 2019-20 a fishery disaster. The declaration makes the fishery eligible for disaster assistance from the National Oceanic and Atmospheric Administration. Baymen may also qualify for disaster assistance from the Small Business Administration, according to the Department of Commerce. The department has balances remaining from previously appropriated fishery disaster assistance and will determine the appropriate allocation,,, >click to read< 10:27
Coronavirus: Maine fishermen say they missed out on pandemic relief program
Thousands of Maine fishermen and others in the seafood sector could have qualified for pandemic relief through the Paycheck Protection Program, but many were, apparently, unable to access the benefits before the money ran out. Ben Martens, executive director of the Maine Coast Fishermen’s Association, said many of the industry’s on-the-water workers did not realize they were likely to qualify for the forgivable loans and other assistance that was briefly made available through the Small Business Administration. >click to read< 15:11
CARES Act – Paycheck Protection Program: Small businesses in Provincetown, on Cape Cod report mixed emergency loan success
After the program received more than 220,000 applications for $66 billion in loans since it opened last Friday, according to the Wall Street Journal, lawmakers are working on adding money with Treasury Secretary Steven Mnuchin asking for $250 billion more.,, “I think the delay is the sheer volume of people applying,” said Chatham commercial fisherman Shannon Eldredge, who works as a navigator for the Massachusetts Fishing Partnership, which assists fishermen and their families with health care and financial help. “I’m hearing it’s going to take longer than anticipated.” Still, she said her organization and clients were pleased that the SBA was answering phones and questions and providing updates on the status of individual applications. >click to read< 11:06
How do you apply for small business funds from stimulus package?
Small businesses around the country got a $370 billion lifeline in the $2 trillion Coronavirus Aid bill,, But those businesses want to know what kind of relief will it provide? Dave Ketchen is the Harbert Eminent Scholar and Professor of Management at Auburn University, and he has been looking over the legislation. He said time is perhaps the biggest factor in question. “I definitely think it’s a much needed life preserver,” he said. “A big question is on the implementation side. If you throw a life preserver to somebody and they drown before they get it, it didn’t do them any good. A big question is how quickly is this money going to get into small business people’s hands.” >click to read< 14:47
Small Business Relief Tracker: Funding, Grants And Resources For Business Owners Grappling With Coronavirus
Some 30 million American small businesses are high on the coronavirus’ list of victims. Nearly half of these companies say the pandemic is to blame for unprecedented revenue declines, and with no clear end in sight, the possibility of temporary closures has become a reality for many. In an effort to help business owners find financial relief, we’ve rounded up all of the government agencies, private companies and nonprofit organizations that are extending support. We’ll be adding to this list as the situation develops, so check back for updates. >click to read< 13:01
Federal Register – SBA: Massachusetts Disaster #MA-00056 Declaration of Economic Injury
This is a notice of an Economic Injury Disaster Loan (EIDL) declaration for the Commonwealth of Massachusetts, dated 11/01/2013. Incident: Commercial Fishery Failure. Incident Period: 05/01/2013 through 04/30/2014. Effective Date: 11/01/2013. EIDL Loan Application Deadline Date: 08/01/2014.
The following areas have been determined to be adversely affected by the disaster:Show citation box Primary Counties: Essex, Plymouth. Contiguous Counties: Massachusetts: Barnstable, Bristol, Middlesex, Norfolk, Suffolk. New Hampshire: Hillsborough, Rockingham. more@federalregister 10:58
SBA OKs loans for fishermen
The SBA decision, which came at the request of 
Gov. Deval Patrick and at the urging of the Massachusetts congressional delegation, sets up the first pipeline for federal financial assistance since the Secretary of Commerce declared the Northeast fishery a disaster in the fall of 2012. more@GDT 06:46
Fishing industry still reeling from Sandy [Asbury Park Press, N.J.]
“Now you can’t even get rid of them. Nobody’s buying male crabs,” Isaksen said. At the water’s edge, captain Michael Chanowich and dock worker David Tauro unloaded the co-op’s other post-Sandy mainstays: low-price skates and dogfish. “We cleaned up as best we can … but we don’t have the money to put this place back together,” Isaksen said. “When are we going to get some help? We called FEMA (Federal Emergency Management Agency) but they said they can’t do anything for us.” So far, the SBA loan program is not promising, said James Lovgren, a captain with the Fishermen’s Dock Cooperative in Point Pleasant Beach who looked into the loan program for his fishermen. http://investing.businessweek.com/research/stocks/news/article.asp?docKey=600-201212060805KRTRIB__BUSNEWS_17736_5006-1¶ms=timestamp||12/06/2012%208:05%20AM%20ET||headline||Fishing%20industry%20still%20reeling%20from%20Sandy%20%5BAsbury%20Park%20Press%2C%20N.J.%5D||docSource||McClatchy-Tribune||provider||ACQUIREMEDIA||bridgesymbol||US;BAC&ticker=BAC
