The Turlock Chamber strives to promote the continuous improvement of the common good and the quality of life in the community through the pursuit of new business; the cultural, social, and economic education of our citizens; and by providing accurate and timely assistance to the business community. Become a member, and get found in our online Members Directory. Signing up is easy using our online Membership Application, so why wait? Become a member of the Chamber today!
Chamber Champions
Upcoming Ribbon Cuttings
Worker Shortage Crisis Intensifying as Job Openings Rise Month over Month
CURTIS DUBAY
Senior Economist, U.S Chamber of Commerce
Our worker shortage crisis is intensifying as job openings keep rising month after month. The Bureau of Labor Statistics (BLS) reports there were more than 10.9 million job openings in the economy at the end July – an all-time record yet again. The July record is an astounding 749,000 more than in June. In total, businesses have added almost 4.2 million job openings in 2021. There are now 2.2 million more job openings than there are unemployed workers in the economy.
Click the link below for full article.
www.uschamber.com/series/above-the-fold/worker-shortage-crisis-intensifying-job-openings-rise-month-over-month
CURTIS DUBAY
Senior Economist, U.S Chamber of Commerce
Our worker shortage crisis is intensifying as job openings keep rising month after month. The Bureau of Labor Statistics (BLS) reports there were more than 10.9 million job openings in the economy at the end July – an all-time record yet again. The July record is an astounding 749,000 more than in June. In total, businesses have added almost 4.2 million job openings in 2021. There are now 2.2 million more job openings than there are unemployed workers in the economy.
Click the link below for full article.
www.uschamber.com/series/above-the-fold/worker-shortage-crisis-intensifying-job-openings-rise-month-over-month
New Poll Shows Small Businesses Turning More Cautious
THADDEUS SWANEK Senior Writer and Editor, Strategic Communications
The Q3 2021 MetLife and U.S. Chamber of Commerce Small Business Index (SBI) finds that small business owners are increasingly cautious when it comes to plans for hiring and investing. The poll taken July 16 – 30, 2021, and released this week by the U.S. Chamber of Commerce and MetLife also found that small business owners see generating revenue as their biggest post-pandemic challenge.
Click the link below for full article:
www.uschamber.com/series/above-the-fold/new-poll-shows-small-businesses-turning-more-cautious
THADDEUS SWANEK Senior Writer and Editor, Strategic Communications
The Q3 2021 MetLife and U.S. Chamber of Commerce Small Business Index (SBI) finds that small business owners are increasingly cautious when it comes to plans for hiring and investing. The poll taken July 16 – 30, 2021, and released this week by the U.S. Chamber of Commerce and MetLife also found that small business owners see generating revenue as their biggest post-pandemic challenge.
Click the link below for full article:
www.uschamber.com/series/above-the-fold/new-poll-shows-small-businesses-turning-more-cautious
WASHINGTON – The U.S. Small Business Administration (SBA) is launching a streamlined application portal to allow borrowers with Paycheck Protection Program (PPP) loans $150,000 or less through participating lenders to apply for forgiveness directly through the SBA.
“The SBA’s new streamlined application portal will simplify forgiveness for millions of our smallest businesses -- including many sole proprietors -- who used funds from our Paycheck Protection Program loans to survive the pandemic,” said Administrator Isabel Casillas Guzman. “The vast majority of businesses waiting for forgiveness have loans under $150,000. These entrepreneurs are busy running their businesses and are challenged by an overly complicated forgiveness process. We need to deliver forgiveness more efficiently so they can get back to enlivening our Main Streets, sustaining our neighborhoods and fueling our nation’s economy.”
This new change will help rush relief to over 6.5 million smallest of small businesses which has been the Administrator’s priority since day one. The new forgiveness platform will begin accepting applications from borrowers on August 4th, 2021. Lenders are required to opt-in to this program through https://directforgiveness.sba.gov. In addition to the technology platform, the SBA is standing up a PPP customer service team to answer questions and directly assist borrowers with their forgiveness applications. Borrowers that need assistance or have questions should call (877) 552-2692, Monday – Friday, 8 a.m. - 8 p.m. EST.
“This initiative will allow PPP borrowers to put their concerns of achieving full forgiveness behind them and focus on operating and growing their businesses again,” said Patrick Kelley, Associate Administrator for SBA’s Office of Capital Access. “We are pleased to be able to assist financial institutions across the U.S. in processing forgiveness applications for small business owners.”
Paycheck Protection Program Summary
In 2021:
Direct Forgiveness Summary
“As one of the leading PPP lenders in the nation, Customers Bank is proud to partner with SBA to deliver responsive digital loan forgiveness service to the small business borrowers,” said Sam Sidhu, President & CEO of the bank. “The streamlined and efficient SBA PPP loan forgiveness portal will help borrowers and lenders move forward with economic growth and job creation following the pandemic. We encourage other lenders to join Customers Bank and opt-in to the SBA portal.”
Established by the CARES Act in 2020, the PPP was among the first COVID-19 small business economic aid programs and provided more than $798 billion in economic relief to small businesses and nonprofits across the nation, keeping employees working, and helping businesses come back stronger than ever. View the Interim Final Rule on PPP Forgiveness.
Other programs include Economic Injury Disaster Loan (EIDL), EIDL Advance, Targeted EIDL Advance, Supplemental EIDL Advance, Restaurant Revitalization Fund, Shuttered Venue Operators Grant, and SBA Debt Relief program. To learn more about these programs, please visit www.sba.gov/relief.
“The SBA’s new streamlined application portal will simplify forgiveness for millions of our smallest businesses -- including many sole proprietors -- who used funds from our Paycheck Protection Program loans to survive the pandemic,” said Administrator Isabel Casillas Guzman. “The vast majority of businesses waiting for forgiveness have loans under $150,000. These entrepreneurs are busy running their businesses and are challenged by an overly complicated forgiveness process. We need to deliver forgiveness more efficiently so they can get back to enlivening our Main Streets, sustaining our neighborhoods and fueling our nation’s economy.”
This new change will help rush relief to over 6.5 million smallest of small businesses which has been the Administrator’s priority since day one. The new forgiveness platform will begin accepting applications from borrowers on August 4th, 2021. Lenders are required to opt-in to this program through https://directforgiveness.sba.gov. In addition to the technology platform, the SBA is standing up a PPP customer service team to answer questions and directly assist borrowers with their forgiveness applications. Borrowers that need assistance or have questions should call (877) 552-2692, Monday – Friday, 8 a.m. - 8 p.m. EST.
“This initiative will allow PPP borrowers to put their concerns of achieving full forgiveness behind them and focus on operating and growing their businesses again,” said Patrick Kelley, Associate Administrator for SBA’s Office of Capital Access. “We are pleased to be able to assist financial institutions across the U.S. in processing forgiveness applications for small business owners.”
Paycheck Protection Program Summary
- Overall, the SBA and lenders have worked to originate over 11.7 million loans totaling nearly $800 billion in relief to over 8.5 million small businesses.
In 2021:
- SBA approved over 6.5M loans totaling over $275B
- The average loan size was ~$42 thousand (compared to $101 thousand in 2020)
- 96% of loans went to businesses with fewer than 20 employees (compared to just 87% in 2020.)
- 32% of loans went to businesses in LMI communities (compared to just 24% in 2020)
Direct Forgiveness Summary
- Over 600 banks have opted in to direct forgiveness, enabling over 2.17mm borrowers to apply through the portal (This represents 30% of loans $150,000 or less that have not yet submitted for forgiveness)
“As one of the leading PPP lenders in the nation, Customers Bank is proud to partner with SBA to deliver responsive digital loan forgiveness service to the small business borrowers,” said Sam Sidhu, President & CEO of the bank. “The streamlined and efficient SBA PPP loan forgiveness portal will help borrowers and lenders move forward with economic growth and job creation following the pandemic. We encourage other lenders to join Customers Bank and opt-in to the SBA portal.”
Established by the CARES Act in 2020, the PPP was among the first COVID-19 small business economic aid programs and provided more than $798 billion in economic relief to small businesses and nonprofits across the nation, keeping employees working, and helping businesses come back stronger than ever. View the Interim Final Rule on PPP Forgiveness.
Other programs include Economic Injury Disaster Loan (EIDL), EIDL Advance, Targeted EIDL Advance, Supplemental EIDL Advance, Restaurant Revitalization Fund, Shuttered Venue Operators Grant, and SBA Debt Relief program. To learn more about these programs, please visit www.sba.gov/relief.
The Turlock Chamber has been working closely with CSUS to better
understand our economic future here in the Central Valley.
Please view this presentation for a full recent update on the state of affairs.
A special Thank You to
Dr. Gokce Soydemir, Foster Farms Endowed Professor of Business Economis.
understand our economic future here in the Central Valley.
Please view this presentation for a full recent update on the state of affairs.
A special Thank You to
Dr. Gokce Soydemir, Foster Farms Endowed Professor of Business Economis.
A big Thank You to our latest Chamber Champions! With your generous support, we can provide local scholarships to our students and offer business education to our community along with specialized digital marketing for your business. We believe that business and community go hand in hand. If you are interested in investing in your community, give us a call! 209-632-2221 or email info@turlockchamber.com
Balanced Books, LLP
Nathan Dabulewicz Insurance Agency
The Strategic Legal Group
Thorsen's-Norquist Plumbing , Heat & Air
StateFarm Insurance Agent- Dee Hernandez
Turlock Chrysler Dodge Jeep Ram
Turlock Direct
GDI Insurance
US Cold Storage
JKB Living/Energy
Oak Valley Community Bank
Garton Tractor
Kirkes Electric
Allen Mortuary
Winton-Ireland, Strom & Green
Hamilton Farms
UPCOMING EVENTS & INFORMATION
The coronavirus bottom line: As of Wednesday, California had 4,441,390 confirmed cases (+0.2% from previous day) and 67,928 deaths (+0.2% from previous day), according to state data. CalMatters is also tracking coronavirus hospitalizations by county.California has administered 48,813,863 vaccine doses, and 69.6% of eligible Californians are fully vaccinated.
Plus: CalMatters is tracking the results of the Newsom recall election and the top 21 bills state lawmakers sent to Newsom’s desk.
Plus: CalMatters is tracking the results of the Newsom recall election and the top 21 bills state lawmakers sent to Newsom’s desk.
State Sets Up Employer Vaccination Toolkit
California has created an Employer Vaccination Toolkit, a website designed to help employers make COVID-19 vaccinations more convenient for their employees.
California has created an Employer Vaccination Toolkit, a website designed to help employers make COVID-19 vaccinations more convenient for their employees.
How to apply for EIDL and EIDL Reconsideration
In response to COVID-19, small business owners, including agricultural businesses, and nonprofit organizations in all U.S. states, Washington D.C., and territories can apply for the COVID-19 Economic Injury Disaster Loan (EIDL).
On Friday, October 1st at 11:00am PST, join the SBA for a FREE webinar on EIDL and EIDL Reconsideration!
During this webinar with SBA experts, you will learn:
- WHEN to apply for EIDL and EIDL Reconsideration
- HOW to apply and what the loan process is
- WHICH forms to fill out based on the specifics of your loan
- LOAN terms, interest rates, loan amounts and more will be discussed
- WHAT documentation you will need
This webinar will be hosted on Microsoft Teams and no advance registration is required to participate in it. You can view it on your phone if you have installed the Teams app, or watch it on your computer.
Click on the link below at 11:00 am PST on Friday, Oct. 1st to participate.
CLICK HERE to join webinar!
The Small Business Development Center
is here for you!
The Central California SBDC Regional Network is doing everything in our power to help your business get through the economic hardship and prepare for a stronger reopen.
is here for you!
The Central California SBDC Regional Network is doing everything in our power to help your business get through the economic hardship and prepare for a stronger reopen.
We might be biased, but we’re big fans of Stanislaus County.
It’s full of well-kept secrets and we’re here to spill the beans. New businesses are choosing Stanislaus County every day and with good reason. Why Stanislaus? Click the link below and find out!
Opportunity Stanislaus
Check out the services and resources for your business!
It’s full of well-kept secrets and we’re here to spill the beans. New businesses are choosing Stanislaus County every day and with good reason. Why Stanislaus? Click the link below and find out!
Opportunity Stanislaus
Check out the services and resources for your business!
UPDATED: COVID-19 Vaccine: A safe and effective COVID-19 vaccine is one of the most important tools in ending the COVID-19 pandemic.
http://www.schsa.org/coronavirus/vaccine/
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