HomeMy WebLinkAbout04/18/20 - Updates COVID-19 St. Lucie County Business AssistanceStephanie Bush
From:Jennifer DuBey <jdubey@youredc.com>
Sent:Saturday, April 18, 2020 7:59 AM
To:Jennifer DuBey
Subject:New Updates COVID-19 St. Lucie County Business Assistance
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Good Morning EDC Partners
Yesterday the Small Business Administration Administrator Jovita Carranza and Treasury
Secretary Steven T. Mnuchin shared the following information upon the closure of the
Paycheck Protection Program (PPP):
Loan Processing: the SBA processed more than 14 years’ worth of loans in less than 14
days
Businesses Served: 1.6 million
Number of States: businesses in all 50 states received loan assistance
Number of Lenders: 5,000
Lender Participation: 20% processed with <$1 billion in assets and 60% processed with
<$10 billion or less
Lender Cap: no lender accounted for greater than 5% of the total program amount
Loan Amount Majority: 74% <$150,000
If you are a recipient of the Paycheck Protection Program, the SBA issued an Interim Final
Rule for the program on April 15, 2020. Please click here to read the latest program
guidelines: https://www.sba.gov/sites/default/files/2020-
04/PPP%20Interim%20Final%20Rule_0.pdf
The US Chamber of Commerce launched the “Save Small Business” initiative, a nationwide
grant fund to address small business immediate needs during this challenging time. Funded by
corporate and philanthropic partners, small employers are eligible to apply for a $5,000 grant
with the following criteria:
Employ between 3 and 20 people
Be located in an economically vulnerable community as identified in the Distressed
Communities Index
All St. Lucie County zip code areas are eligible with the exception of businesses located in 34987
Have been harmed financially by the COVID19 pandemic
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For more information on the Save Small Business grant program, please visit
https://savesmallbusiness.com/. The grant application will go live on Monday, August 20at
noon.
The Department of Economic Opportunity released March unemployment data today with
th
St. Lucie County ranked 10 in the state with a 5.3% unemployment rate. The release noted
St. Lucie County’s March labor force at 147,705 with 7,874 residents unemployed as compared
to February labor force with 5,505 residents unemployed at a 3.7% unemployment rate.
UF/IFAS (University of Florida/Institute of Food and Agricultural Sciences) have deployed
surveys to capture important information on the agricultural and marine industries occupying
a large portion of Florida’s economy and to better understand how measures to mitigate the
spread of COVID19 are impacting these industry sectors. If you are a business within the
following five categories, please kindly take a few minutes to take this survey for important
data collection during this crisis:
The surveys can be accessed at these links:
Agriculture/Aquaculture Production, Processing, Transportation com/uflsurvey-
agaquaculture
Commercial Fishing com/uflsurvey-commercialfishing
For-hire/Charter com/uflsurvey-charter
Seafood Wholesale Dealer com/uflsurvey-seafood
Marine Recreation Support com/uflsurvey-recreation
For information at your fingertips regarding federal, state and local assistance, please visit our
Business Assistance Web Portal at https://youredc.com/grow_your_business/wr for updated
information on programs and services to assist your business and employees.
If you have any questions or need any assistance for your business or employees, please do
not hesitate to contact us.
Jennifer DuBey, Business Manager
Economic Development Council of St. Lucie County
500 NW California Blvd. ■ Bldg. F109 ■ Port St. Lucie, FL 34986
(Located at Indian River State College)
O: 772.336.6256 ■ C: 772.812.0107 ■ jdubey@youredc.com
www.youredc.com
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