SBA disaster loans available in Vermont

first_imgThe US Small Business Administration’s Regional Administrator for New England, Jeanne Hulit is encouraging survivors affected by Tropical Storm Irene in the State of Vermont to register for assistance with the Federal Emergency Management Agency (FEMA) and return completed SBA disaster loan applications to get the help they need.   The SBA’s low-interest disaster loan program is the primary source of federal funds for long-term   recovery for uninsured damages caused by a declared disaster. ‘We are coordinating recovery efforts with our SBA Resource Partners along with federal, state and local stakeholders  in the declared disaster area to ensure affected survivors receive proper assistance from the SBA. Taking time to complete and return the loan application package to the SBA is an important part of the recovery process,’ Hulit said.Disaster loans up to $200,000 are available to homeowners to repair or replace disaster damaged or destroyed real estate.  Homeowners and renters are eligible up to $40,000 to repair or replace disaster damaged or destroyed personal property.  Businesses and private non-profit organizations of any size may borrow up to $2 million for physical losses and working capital needs.  Interest rates are as low as 2.5 percent for homeowners and renters, 3 percent for non-profit organizations and 4 percent for businesses with terms up to 30 years.   ‘The SBA District Office and the Small Business Development Center (SBDC) Network in Vermont are reaching out to local businesses to make sure they have access to federal resources to help them recover from the disaster,’ said SBA Vermont District Director, Darcy Carter.  ‘We encourage all small businesses affected by the disaster to stop by the Disaster Recovery Centers where they can ask questions specific to their situation and get answers right on the spot from the disaster center staff.’ Area advisors from the VtSBDC network are available to assist business owners evaluate their  situation and prepare documents needed for disaster loan applications.  In Vermont, call 1-800-464-7232 or visit www.vtsbdc.org(link is external) and click on ‘location’ to find the advisor in your area. ‘Our team of experienced business professionals can help devastated individuals examine the overall condition and health of their business, and review options for the future,’ said VtSBDC State Director, Lenae Quillen-Blume.  ‘The local advisor is in contact with Disaster Recovery Center staff and has an understanding of programs available and requirements of them.’ The disaster declaration covers the counties of Addison, Bennington, Caledonia, Chittenden, Orange,  Rutland, Washington Windham and Windsor in Vermont, which are eligible for both Physical and Economic Injury Disaster Loans from the SBA.  Small businesses and most private non-profit organizations in the following neighboring counties are eligible to apply only for SBA Economic Injury Disaster Loans: Essex, Franklin, Grand Isle, Lamoille, and Orleans in Vermont; Berkshire and Franklin in Massachusetts; Cheshire, Grafton and Sullivan in New Hampshire; and Clinton, Essex, Rensselaer and Washington in New York.  To be considered for all forms of disaster assistance, call the Federal Emergency Management Agency (FEMA) at 800-621-FEMA (3362), (TTY) 800-462-7585 for the deaf and hard-of-hearing. Additional information on the loan application process and the locations of Disaster Recovery Centers can be obtained by calling the SBA Customer ServiceCenter at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to disastercustomerservice@sba.gov(link sends e-mail). Those affected by the disaster may also apply for disaster loans electronically from SBA’s website at https://disasterloan.sba.gov/ela/(link is external). The filing deadline to return applications for physical property damage is October 31, 2011.The deadline to return economic injury applications is June 1, 2012.last_img read more

Rank Group preparing for ‘difficult trading conditions’ following COVID-19 lockdown

first_imgShare StumbleUpon Related Articles Better Collective cautious on quick recovery as COVID drags growth momentum August 25, 2020 John O’Reilly – Erratic orders have placed UK casinos on life support August 4, 2020 Rank Group extends support for Carers Trust July 28, 2020 Share Amid COVID-19 disruptions, Rank Group has revealed that it is ‘preparing for difficult trading conditions’ when it reopens its venues.Publishing a trading update for the quarter to 31 March 2020, Rank’s like-for-like net gaming revenue was down 4% for the quarter, while total NGR saw an increase of 5%. Rank Group has predicted that annual underlying operating profit will amount to somewhere between £48 million and £58 million, based on the assumption that its venues remain closed for the rest of the financial year.The Group’s digital division saw the largest increase in NGR, with a 21% increase for the quarter. Grosvenor Digital NGR grew by 27% in Q3 which Rank says was largely ‘driven by continued growth in new players and strong levels of returning players’.Mecca Digital also performed strongly with NGR up 20%, whilst a series of senior management and operational changes undertaken during Q2’ had a positive impact on Spanish asset Yo’s performance, reporting NGR growth by 9% during Q3.In its update, Rank revealed that its monthly cash outflow during the coronavirus pandemic enforced closures will be £10 million per month from May 2020. The figure has decreased from the previously expected £17 million per month, as a result of the HM Treasury’s support measures.The Group has also benefited from approximately £1 million per month from the business rates holiday.John O’Reilly, CEO of Rank, commented: “With the tremendous support we have received from HM Treasury and HMRC, together with our own mitigations, we have established a robust financial position to address and withstand an extended period of economic turmoil.“Given the uncertainty we face and continued social distancing measures likely to be in place for some time to come, we continue to work to protect cash and to prepare for the reopening of our venues in as safe a way as possible.“I am enormously proud of our colleagues and how they have responded to the decisions we have had to take as well as their selfless response and contribution to the national effort. We know how important our venues are in many local communities and we’ve answered the call to contribute by stepping up to help those who need it most right now.”Rank Group also confirmed that it had requested repayment from HMRC of £25.2 million in relation to VAT paid on slot machine revenue between 2002 and 2005 to maximise its liquidity and this was received in early AprilMitigating the short-term effects of the COVID-19 lockdown, circa 7,000 colleagues, out of a UK workforce of 7,600, have been furloughed by the Group, with all colleagues receiving 80% of their salary under the UK Government’s Coronavirus Job Retention Scheme which has been topped up by Rank.Issuing a response to the Government’s call for contributions during the COVID-19 lockdown, Rank stated: “The Rank Group’s Board and our colleagues are conscious of the need to contribute to the wider societal effort at this time of national crisis.“Our customers know that our venues are community hubs and far more than just places to gamble, and our non-furloughed colleagues have stepped up to ensure we are able to use our venues, wherever and however possible within Government guidelines, to support key workers and vulnerable people in our communities.“We have launched a new charity initiative in collaboration with Blue Light Card, the UK’s number one discount service for the NHS, Emergency Services, Social Care workers and Armed Forces. Rank colleagues are providing free meals to these key workers from some of our UK venues’ kitchens.“We are also collaborating with a number of MPs and local councils to ensure whatever capacity we have in our kitchens is maximised to provide vulnerable people, including the homeless and elderly, with hot meals, cooked in Rank venues and distributed by our teams. Our colleagues are also calling our regular Mecca customers to check in on their wellbeing.“We are acutely aware of the need for heightened vigilance in identifying any signs of gambling-related harm in our digital business, and have redoubled our safer gambling efforts, incorporating the Betting & Gaming Council’s ’10 pledge action plan’ and bolstering resource in our safer gambling teams.” Submitlast_img read more