|Posted on March 3, 2021|
|City hosts webinars and answers questions about the free business assistance program|
|By Pippa Fisher|
The City of Lafayette is once again making the Business Assistance Program available to help Lafayette-based businesses and non-profit organizations as a resource to help them navigate the maze of available loans with the latest round of federal stimulus plans.
Any Lafayette business with less than 300 employees, gig workers and those without employees can benefit from the free advisory service, overseen by Townsend Public Affairs – a service paid for by the city.
Currently, 152 small local businesses have registered for free support with the BAP.
According to TPA partner Johannus Reijnders, these 152 companies reflect more than 910 employees and independent contractors within the Lafayette community. Total reported paycheck protection program funds, self-reported by companies that choose to share the information, currently stand at $ 232,000, which, according to Reijnders in a Feb. 17 memo to the city, ” adds to the $ 1.5 million in 2020 rewards that we continue to guide towards forgiveness and compliance. “
The BAP offers webinars to discuss the PPP and offer tips for successful applications, including a question-and-answer panel to answer questions live, with the next scheduled for March 4, 4 p.m. to 5 p.m. (see link below to register.)
However, Lamorinda businesses outside of Lafayette shouldn’t fear the process either, according to Lamorinda Weekly co-editor Wendy Scheck, who says the application process has been streamlined for this second round of funding.
With Lamorinda Weekly’s income being affected by the COVID shutdowns, Scheck, who is responsible for the company’s accounting, decided earlier this month to apply for a PPP loan. As a client of Mechanics Bank, Lamorinda Weekly used the bank’s online application process.
“All the documents needed were reports in our accounting and payroll systems and of course a copy of the tax return was needed,” Scheck said. “We have decided to apply for the loan instead of cutting costs again. The pandemic and its impact are expected to eventually end and we hope the loan will help us maintain our service to the community,” Scheck added, noting that the loan was approved and funded within a week.
For more information on the BAP, visit: https://www.lovelafayette.org/businessassistance?fbclid=IwAR0ix70hMz_8QnCZZ1L8Lr9lxWZf6S7cwERnC84g_meqtsUhq1IVbEgTeh4
To register for the webinar, visit: https://register.gotowebinar.com/rt/8894497526695144719?fbclid=IwAR1JmybtNgUKibkM6R2ilpIMbZoSdVS-sjncqOZszIX3dkeWR9f625k3oCY