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Great Plains TMC Membership

Great Plains TMC MembershipGreat Plains TMC MembershipGreat Plains TMC Membership

Supporting you in your next business adventure!

Great Plains TMC Membership

Great Plains TMC MembershipGreat Plains TMC MembershipGreat Plains TMC Membership

Supporting you in your next business adventure!

Member Spotlight

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Anderson Knight Architects - Manhattan, Kansas

Learn more about how AKA's architectural design and expertise can transform abandoned buildings into newly renovated businesses. 

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Industry News & Trends

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COVID-19 Stimulus Updates

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On December 27th, 2020, President Trump signed into law the Economic Aid to Hard-Hit Small Businesses Act. $325 billion supports small businesses by restarting the PPP program, providing more flexibility and other supported programs towards small business owners. Please keep in mind that this information changes frequently. We will update the information as we receive it. Click the button to view recent guides for the stimulus programs.

Stimulus Guides

Paycheck Protection Program (PPP)

Economic Injury Disaster Loan (EIDL)

Economic Injury Disaster Loan (EIDL)

The PPP now allows eligible borrowers to apply for a second draw of the PPP that previously received the loan. 

  • The loan can be used to fund payroll costs (60%), rent, mortgage interest, utilities, COVID-19 worker protection costs, uninsured property damage caused by looting/vandalism in 2020, and supplier/operation costs (40%). 
  • Eligible businesses must have: already received the first PPP and will or have used the full amount for authorized uses, no more than 300 employees, and can demonstrate a 25% reduction in gross receipts in a comparable quarter in 2019 and 2020. 
  • Borrowers may apply for the second draw from participating lenders. To see the information that is requested, please download the PPP Second Draw Application Form 

Economic Injury Disaster Loan (EIDL)

Economic Injury Disaster Loan (EIDL)

Economic Injury Disaster Loan (EIDL)

The EIDL is still available to qualified small businesses along with a new Targeted EIDL Advance for small businesses. 

  • The advance funds of up to $10,000 will be available to applications who previously received an EIDL advance for less than $10,000 or those who applied but received no funds due to available funds. 
  • Eligible businesses may qualify if they are: located in a low income community and can demonstrate more than 30% reduction in revenue during an 8 week period beginning on March 2, 2020 or later and have 300 or fewer employees. 
  • Applicants do not need to submit any applications at this time. The SBA will reach out to those that qualify. Remember - official SBA government emails will come from an email with @sba.gov at the end. 

Employee Retention Tax Credit (ERTC)

Economic Injury Disaster Loan (EIDL)

Employee Retention Tax Credit (ERTC)

The ERTC has been extended and expanded for small businesses. This means more companies can qualify for PPP and use the ERTC. 

  • The amount of tax credit has been increased from 50% to 70% of qualified wages per employee per quarter - $14,000 max per employee
  • The business eligibility has been expanded by reducing the threshold for the decline in gross receipts to qualify from 50% to 20%.
  • The employee cap has been raised from 100 to 500. 
  • Eligible employers can report wages and related health insurance costs for each quarter on their quarterly employment tax return through a Form 941. 
  • If a company's employment tax deposits do not cover the credit cost, that employer can receive a payment in advance by submitting a Form 7200. 

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CARES Act Funds

The K-State Technology Development Institute was awarded CARES Act funds from the U.S. EDA to provide no-cost engineering, commercialization, and marketing services. Click the button below for more information and to apply. 

Apply

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Copyright © 2020 Great Plains TMC Membership - All Rights Reserved.

In partnership with the K-State Technology Development Institute

Funded by the U.S. Small Business Administration

785-532-1249 - info@greatplainstmc.org

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