Tag Archives: Small Business Administration
The Future of Fishing – Island Institute launches new initiative to support Maine’s lobster industry
Island Institute is proud to announce a $1.4 million award from the Small Business Administration to support Maine’s lobster industry and enhance the economic resilience of the coastal communities dependent on this vital fishery. This Congressionally Directed Spending request championed by U.S. Senators Susan Collins and Angus King will launch the Future of Fishing, a collaborative effort designed to expand economic opportunities for Maine’s coastal communities, building on Island Institute’s longstanding partnerships to advance a diversified, climate-forward marine economy in Maine. Maine’s fishing communities face historic challenges such as rapidly warming waters, more frequent and severe storms, costly regulatory changes, and rising business costs. These communities, and the men and women that work on the water, are the backbone of Maine’s seafood sector; a sector responsible for more than $3 billion in total economic output and more than 33,000 jobs statewide. more, >>CLICK TO READ<< 11:28
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
Feds offer emergency loans to idled salmon industry
Last spring, the commercial chinook salmon season was completely cancelled. Now federal officials are offering emergency subsidized loans for an industry in crisis. The loans must be repaid over a 30-year term, though no payments are required over the first year. George Kostyrko, a spokesman for the federal Small Business Administration, or SBA, said the aid is meant to help a now struggling sector. “The closure has had an economic impact on the commercial and recreational fishing and those associated with the broader salmon fishing industry here on the west coast,” Kostyrko said. more, >>lick to read<< 06:50
Oil spill victims could get financial help from Small Business Administration
Local victims of the oil spill off the coast of Orange County could be eligible for low-interest loans from the Small Business Administration, which on Wednesday declared the county a disaster area. While the move falls short of the broader federal disaster designation requested by some in Orange County, it could pave the way for companies to resume any operations, or claw back revenue, stopped or lost because of the spill that first was reported Oct. 1.,,, Terese Pearson, who helps run a family fishing business in Newport Beach, said her primary interest is resuming work, not borrowing money. >click to read< 09:15
Coronavirus: Maine Fishermen still waiting to access pandemic relief funds
On March 27, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act that, among other provisions, authorized one-time “economic impact payments” of $1,200 to adult U.S. residents with incomes of under $99,000 plus an additional payment of $500 for each child in a household. The CARES Act also established the Paycheck Protection Program to provide $349 billion in loans to businesses affected by the coronavirus shutdowns. Fishermen were eligible to apply for those loans as well as loans under the Economic Injury Disaster Loan program, but many did not realize that was the case. “Due to unclear guidance, many fishermen were initially told by their lenders they were not eligible for the Paycheck Protection Program,” lobster fisherman and state Rep. Genevieve McDonald (D-Stonington) said Monday. >click to read< 07:49
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
Coronavirus Assistance for Commercial Watermen and the Seafood Industry
The Hogan Administration acknowledges that the seafood industry is an iconic Maryland industry with commercial landing values over $82 million. The seafood industry also contributes over $600 million to Maryland’s economy. Given the economic hardships posed by the COVID-19 pandemic, commercial watermen who are self-employed may be eligible for the following relief programs: Small Business Administration (SBA) Paycheck Protection Program (PPP), Coronavirus Aid, Relief, and Economic Security (CARES) Act Relief Funding, more information, >click to read< 15:07
Florida commercial fishermen could get $200 million in aid
Florida’s commercial fisheries, hit hard by Hurricane Irma, should pull in a $200 million boost from the two-year federal budget passed last week. The $200 million will be included as funding for the “catastrophic regional fishery disaster for Florida” in the proposed $300 billion increase in the federal budget, Florida U.S. senators Bill Nelson and Marco Rubio announced. Part of that federal money could go toward ongoing trap-recovery efforts, Florida Keys Commercial Fishermen’s Association executive director Bill Kelly said Monday. >click to read< 19:29 
Small business works to return after Harvey
Hurricane Harvey brought destruction to Crossroads businesses, stealing all the inventory of many and leaving others with collapsed structures. About 40 percent of small businesses never open their doors to customers again after a disaster, according to the Federal Emergency Management Agency. Mary and Kevin Nevarez, owners of Evelyn’s Seafood Market, are determined that won’t happen to the iconic Port Lavaca business that has been open on the bayfront since 1942. “As far as everything inside … it’s completely shattered,” The couple applied for a Small Business Administration low-interest disaster loan because FEMA doesn’t offer funds to businesses click here to read the story 14:59
Fisherman hoping bumper sticker will reel in Trump
The Stonington town dock once featured a dozen or more vibrant commercial fishing boats. Now, it’s down to three or four. “My revenue has gone down probably 75 percent,” says Joel Hovanesian, a fisherman for 45 years. “The ocean’s loaded with fish, but they don’t allow us to catch it,” said an aggravated Robert Guzzo, another longtime fisherman.”This year, we’re only allowed 120,000 pounds of fish,” said Mike Gambardella, a fish wholesaler, with businesses in Stonington and East Haven. When business was bustling, Gambardella Wholesale Fish would ship out 5,000 cartons, with 60 pounds of fish in each, every week. Now, on a really good week, it’s 300 cartons. Gambardella says the association is hoping the President listens and, at the very least, they can schedule a meeting with Linda McMahon, the former World Wrestling Entertainment head, who is now President Trump’s leader of the Small Business Administration. Video, read the story here 08:00
Ventura harbor closure takes an economic toll, thanks to strong currents and El Niño conditions
The Small Business Administration declared a state of emergency for the Ventura Harbor businesses on Feb. 26, according to a press release. The declaration enabled the administration to directly assist affected businesses in Ventura County and the surrounding areas. Beginning in late January, a build-up of sand in the harbor created shallow waters that closed the harbor until Feb. 19, according to Brian Pendleton, business operations manager with the Ventura Port District. He said the types of businesses impacted include commercial fishing operations, passenger vessels, marinas and boat yards, among others. Read the rest here 09:59
Local Crabbers React to Possible SBA Loan Help
The federal Small Business Administration is trying to find out if California crab fishermen have suffered significant financial losses by a delay in the start of the annual Dungeness and rock crab fishing season. If the losses are substantial enough a could be declared and low-interest loans would be available to crab fishermen who need them. “We’d rather go fishing we don’t want SBA loans, I can’t make that more clear”, Lori French says, “we’d rather go fishing, we’ve been self-supporting for a lot of years and we want to keep it that way, we’ve never asked for a handout and we don’t want a handout now.” Read the article here 09:04
Federal Government May Offer Help To Local Crab Fishermen
Local fishermen who may have suffered economic losses due to the recent restrictions on commercial and recreational Dungeness and Rock crab fishing may receive financial help from the federal government. The Small Business Administration wants to hear from anyone who believes they suffered financial losses.,, The SBA will look at the feedback and determine if the impacts were enough to meet disaster loan criteria. If it does, any business or entity impacted by the closure could qualify for low-interest loans. SBA officials are only gathering information at this point. Read the rest here 07:38
Small Business Administration has approved an economic injury declaration for Apalachicola Bay commercial oyster fishery
APALACHICOLA, Fla. (AP) – The U.S. Small Business Administration has approved an economic injury declaration Gov. Rick Scott requested for parts of the Florida Panhandle affected by the collapse of the commercial oyster fishery. more@local15tv 11:51
