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CBA Update: Ending the week with good news - 5 important updates

*This message was sent to the CBA full membership on 04/24/20 at 3pm ET.


Dear Carrboro Business Alliance,
 
We are ending this week on some good news. Here are my five important updates for you:
 
1) Federal Funding – First, we continue to hear good news that more of you have received your federal emergency loans (PPP and EIDL) (some even this morning), and the President just approved another $370 billion to fuel small business emergency relief. If you didn’t secure a federal emergency low interest loan before, we encourage you to APPLY NOW and here’s our tip sheet for navigating the 5 federal programs and here’s a link to schedule free, confidential help with your application through the SBTDC.
 
2) Local Funding – A huge hat tip to Carrboro Mayor Lavelle, Town Council, Manager Andrews, and Town Attorney Bob Hornik who acted quickly, approved, and opened the next tranche of funding ($240k) in up to $25k 0% interest loans/grants for our local businesses and nonprofits. Further, we are grateful to report that they made minor modifications to the program based on our requests. If you were not successful or did not apply in the first round, we encourage to you APPLY NOW.  (Deadline Tuesday, May 5th at 5pm)
 
3) Staffing – More good news. The town has hired an outstanding Interim Economic Development Director who most of you know very well and with great fondness, Betsy Bertram. She has jumped into the role and available to help you if you have any questions or concerns: elizabeth.bertram1@gmail.com. You are also invited to join Betsy for her first virtual office hours next week (4/30 at 10am) when she will answer questions about the emergency loan program. Contact Betsy for the zoom URL and password.    

4) Scenario-planning - As you know, the Governor extended the “Stay at Home” order through May 8, and Orange County followed-suit. At the same time, the Governor announced the 3 Phase lifting of restrictions based on virus trends. This information is critical for your scenario-planning. Use it as a roadmap to make sense of when and how restrictions will be eased and plan accordingly for a safe re-opening of your business.
 
5) We Buy Local – We are lucky to live in a community that values local business and “puts their money where their house is,” but we must continue to beat the #WeBuyLocal and #CarrboroUnited drum. To that end, The Splinter Group created a fabulous #LocalStimulUS campaign. The campaign emphasizes: “When we spend it here, we keep it here, so keep it local, y'all!”  Please help us spread the buy local messaging through your networks. Spread the word.
 
Let me know if you have any questions or concerns, and I invite you to forward/share this message with others.
 
Katie

Katie Loovis
Staff Support, Carrboro Business Alliance
Vice President, The Chamber For a Greater Chapel Hill-Carrboro
(919) 696-0781 (cell) | KLoovis@carolinachamber.org  
www.CarrboroBusinessAlliance.com 

PS: A few more things: