KEDCo Providing Businesses With Tools To Get Through Pandemic
May 14, 2020 at 2:24 a.m.
KEDCo Providing Businesses With Tools To Get Through Pandemic
By David [email protected]
During the weekly COVID-19 press briefing Wednesday at city hall, Tio spoke about some of the work they’ve been doing.
“Our business plan, our mission, of course, is to convene, build and show our community’s economic growth resources. We’re not looking backwards, we’re not looking to go back to where things were, we’re looking to go forward,” he said.
KEDCo is still connecting with business leaders through virtual meetings and roundtables.
He said they’re connected with banks on the Paycheck Protection Program (PPP) and loan programs. So many local companies have been able to access the PPP, and a number of banks in the area that do “fabulous” work to process the applications.
Tio said KEDCo is also looking at how it can help companies build solutions through problems.
One way it’s helping businesses is through KEDCo’s Small Business Relief Fund. He appreciated the city of Warsaw investing in the fund.
“We have right now four applications for Small Business Relief to be approved today. We have three more completed applications and another 15 to 20 in the hopper, so to speak, and we’re also building that fund. We have dollars coming in from (the Office of Community and Rural Affairs). We’re requesting dollars from the Kosciusko County Council. So before long, I see we’ll have ... $400,000 to $500,000 to be able to help small businesses, and really looking to help with job retention and business recovery,” Tio said.
He said the loans are zero interest and up to $10,000 each to help with job retention and for businesses to recover.
“So, again, we have about 20 to 30 applications right now with more available on very good terms,” Tio said.
He said KEDCo is providing tools to help businesses and really work with communities as well to help out.
Tio said there are great stories out in the community about companies and individuals that are contributing in various ways to help others and grow the community.
“So for us, if we look backwards, some of the businesses that were born during a crisis or the innovations that emerged during conflict, we’re just very positive as we move forward to go forward, working with companies, helping them adjust their business models, reforecast how they do business, make sure we’re even connected with our customers,” he said.
Plenty is still happening at KEDCo during the pandemic, he said, and he appreciated his team and board of directors’ support.
Warsaw Mayor Joe Thallemer asked Tio what was the “quickest and easiest way” for small businesses to look into local small business relief available through KEDCo.
Tio said Rhonda Ladig is KEDCo’s entrepreneur navigator and she’s taking care of all the application processes. Her email is [email protected] or there is a simple application on KEDCo’s website at www.kosciuskoedc.com.
Thallemer said he understood there was still PPP funding available from the second wave of the federal government relief. He asked Tio for his recommendations on businesses applying for that remainder PPP funding.
Tio said there’s still money available and he recommended a business contact its bank or any of the banks that were utilizing that program. KEDCo can help direct businesses with that program or any other right resource.
On Tuesday, the Wagon Wheel Center for the Arts, a nonprofit entity, announced it was postponing its 2020 summer season, which will have an economic effect on it.
Asked if KEDCo’s loan funds could help nonprofits like Wagon Wheel, Tio said, “Yes, the way we set up our loan funds, nonprofits are eligible. We certainly want to work with nonprofit businesses and help them recover and sustain and grow in the community. So if it’s access to funding, great,” or if another tool would be helpful, KEDCo wants to work with the nonprofit.
“We’re a nonprofit just like many of the others, the way we look at it, and we have our responsibility to our team members and clients to keep working,” Tio said.
During the weekly COVID-19 press briefing Wednesday at city hall, Tio spoke about some of the work they’ve been doing.
“Our business plan, our mission, of course, is to convene, build and show our community’s economic growth resources. We’re not looking backwards, we’re not looking to go back to where things were, we’re looking to go forward,” he said.
KEDCo is still connecting with business leaders through virtual meetings and roundtables.
He said they’re connected with banks on the Paycheck Protection Program (PPP) and loan programs. So many local companies have been able to access the PPP, and a number of banks in the area that do “fabulous” work to process the applications.
Tio said KEDCo is also looking at how it can help companies build solutions through problems.
One way it’s helping businesses is through KEDCo’s Small Business Relief Fund. He appreciated the city of Warsaw investing in the fund.
“We have right now four applications for Small Business Relief to be approved today. We have three more completed applications and another 15 to 20 in the hopper, so to speak, and we’re also building that fund. We have dollars coming in from (the Office of Community and Rural Affairs). We’re requesting dollars from the Kosciusko County Council. So before long, I see we’ll have ... $400,000 to $500,000 to be able to help small businesses, and really looking to help with job retention and business recovery,” Tio said.
He said the loans are zero interest and up to $10,000 each to help with job retention and for businesses to recover.
“So, again, we have about 20 to 30 applications right now with more available on very good terms,” Tio said.
He said KEDCo is providing tools to help businesses and really work with communities as well to help out.
Tio said there are great stories out in the community about companies and individuals that are contributing in various ways to help others and grow the community.
“So for us, if we look backwards, some of the businesses that were born during a crisis or the innovations that emerged during conflict, we’re just very positive as we move forward to go forward, working with companies, helping them adjust their business models, reforecast how they do business, make sure we’re even connected with our customers,” he said.
Plenty is still happening at KEDCo during the pandemic, he said, and he appreciated his team and board of directors’ support.
Warsaw Mayor Joe Thallemer asked Tio what was the “quickest and easiest way” for small businesses to look into local small business relief available through KEDCo.
Tio said Rhonda Ladig is KEDCo’s entrepreneur navigator and she’s taking care of all the application processes. Her email is [email protected] or there is a simple application on KEDCo’s website at www.kosciuskoedc.com.
Thallemer said he understood there was still PPP funding available from the second wave of the federal government relief. He asked Tio for his recommendations on businesses applying for that remainder PPP funding.
Tio said there’s still money available and he recommended a business contact its bank or any of the banks that were utilizing that program. KEDCo can help direct businesses with that program or any other right resource.
On Tuesday, the Wagon Wheel Center for the Arts, a nonprofit entity, announced it was postponing its 2020 summer season, which will have an economic effect on it.
Asked if KEDCo’s loan funds could help nonprofits like Wagon Wheel, Tio said, “Yes, the way we set up our loan funds, nonprofits are eligible. We certainly want to work with nonprofit businesses and help them recover and sustain and grow in the community. So if it’s access to funding, great,” or if another tool would be helpful, KEDCo wants to work with the nonprofit.
“We’re a nonprofit just like many of the others, the way we look at it, and we have our responsibility to our team members and clients to keep working,” Tio said.
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