UPDATE: Wells Fargo building to become county’s tax office
Business, News, Police & Government October 7, 2020
The former Well Fargo building will be turned into the new Murray County Tax Commissioner’s office, allowing customers to use the drive-through service. The building was purchased using CARES funding and SPLOST.
Murray County Sole Commissioner Greg Hogan announced the county’s purchase of the former Wells Fargo bank building for $385,000 to help expand county offices and give customers the option of driving through when they need to pay their taxes.
Hogan wanted to assure county residents that funding for the purchase comes from both the Coronavirus Aid, Relief, and Economic Security (CARES) Act which was signed into law on March 27, providing financial relief for communities and Special Local Option Sales Tax. Murray County received about $1.8 million in relief funding.
“We are not using tax dollars on this,” said Hogan.
He explained the purchase of the Wells Fargo building meets the conditions set forth in the act because the drive-through window allows for social distancing and limited in-person contact.
“During the shut down, we were still open,” said Hogan. “Many of the older residents just want to go to the office to pay the bill.”
The former Wells Fargo bank is located at the intersection of Ga. Hwy. 41 and Ga. Hwy. 52 Alternate and other than minor cosmetic changes, the building is move-in ready, he said.
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Billy Childers, tax commissioner, said the building will need about $6,000 of renovation, mostly customer interface partitions and the county will use inmate labor to make many of the renovations.
“This was much cheaper than building a place,” Childers said.
Hogan said the building would provide much needed room for city hall.
“About 12-percent of our population comes through the tax commissioners office every month. That’s about 3,500 people per month just for motor vehicle taxes and tags,” said Hogan.
The building offers 2,820 square feet including basement, main floor and an upper level. It comes with a safe and a working drive through, which the city plans to utilize.
“We expect many of our senior citizens to use it, ” said Tommy Parker, County Manager. “What we were surprised by was how many mothers wanted a drive-through option. It makes it easier when you children in a car seat and if they are napping, you don’t want to wake them.”
Gov. Kemp and UGA Provide Overview of CARES Act Funding
Business, News April 2, 2020
Atlanta, GA – Today Governor Brian P. Kemp and the University of Georgia Small Business Development Center (SBDC) provided an overview of the funding allocated by the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This critical funding will help small businesses keep workers employed during the current COVID-19 pandemic.
Through the University of Georgia’s 17 Small Business Development Centers (SBDC), in conjunction with the Georgia Department of Economic Development (GDEcD) and Department of Community Affairs (DCA), the state has launched an information website to provide guidance on accessing a variety of U.S. Small Business Administration (SBA) programs.
Beginning April 6, these state partners will host a series of web-based information sessions tailored to each region of the state. In addition, SBDC will be available to assist businesses, where necessary.
The CARES Act provides funds for SBA to aid small businesses through its network of private small business lenders. Georgia has more than 70 qualified SBA lenders, and detailed information about the following vital lending programs can also be found HERE.
“Small businesses are the engine of Georgia’s economy and provide economic opportunity for millions of Georgia families,” said Governor Kemp. “As we continue to fight the spread of COVID-19, this critical resource will provide a lifeline to small businesses across our state. I am encouraging all Georgians to support their local businesses in this difficult time. We will get through this together.”
“The Georgia Department of Economic Development is continuing to work with our partners statewide to confront COVID-19 and move forward together,” said GDEcD Commissioner Pat Wilson. “We thank Governor Kemp, DCA, and SBDC for working together with us to better and more efficiently serve our state’s small businesses at this time of great need.”
“DCA is proud to work with our state partners to support the small businesses that are such a vital part of the communities we serve,” said DCA Commissioner Christopher Nunn.
“The University of Georgia has a strong track record of helping to develop new small businesses across the state. Assisting these firms to navigate COVID-19 aligns perfectly with our land-grant mission,” said UGA President Jere W. Morehead.
Kemp and UGA’s SBDC released a list of SBA lenders.
Small Business Paycheck Protection Program (PPP)
A new $349 billion lending program under the existing SBA 7(a) program. The SBA guarantee of PPP loans will be 100 percent through the end of 2020. PPP loan payments will be deferred for a minimum of six and up to twelve months. Loans will be administered through local and regional banks; any federally regulated bank may become an SBA lender for this purpose. The Department of the Treasury will issue regulations for these loans quickly.
| ▪ | Eligibility: Small businesses as defined by SBA size standards, generally up to 500 employees, but up to 1,500 depending on the sector; sole proprietors, the self-employed, and independent contractors. |
| ▪ | The interest rate will not exceed 4 percent; currently fixed at 0.5 percent. |
| ▪ | Regulatory streamlining: SBA’s standard “no credit elsewhere” test is waived, no personal guarantee or collateral required, and no additional fees will be applied to these loans. |
| ▪ | Size of loans: Up to $10 million. Loan amount is based on recent payroll costs, compensation paid to individuals, including those who are self-employed. Compensation in excess of $100,000 per year to any individual is excluded. |
| ▪ | Requirements: The business must certify the loan will be used to retain workers, maintain payroll, make mortgage or lease payments, and pay utilities. |
| ▪ | Loans may be forgiven, up to an amount equaling eligible payroll, mortgage interest, rent and utility cost, incurred during the eight-week period starting from the loan origination. Compensation in excess of $100,000 a year to any individual will not qualify for forgiveness. Additionally, loan forgiveness is reduced by layoffs or pay reductions in excess of 25 percent, and loan forgiveness is not treated as taxable income. |
Emergency Economic Injury Disaster Loan (EIDL) Advance
| ▪ | Eligibility: Advances are available to small businesses, sole proprietors, independent contractors, tribal businesses, as well as cooperatives and employee-owned businesses in operation on January 31, 2020. |
| ▪ | For those that apply for the EIDL, an advance of up to $10,000 will be provided to small businesses within several days of applying for the loan. |
| ▪ | The advance does not need to be repaid, even if the grantee is subsequently denied an EDL. |
| ▪ | Funds can be used to provide paid sick leave to employees, maintain payroll, meet increased production costs due to supply chain disruptions, or pay business obligations, including debts, rent, and mortgage payments. |
Economic Injury Disaster Loan (EIDL)
| ▪ | Eligibility: Businesses with 500 employees or fewer. This includes sole proprietorships, independent contractors, cooperatives, ESPOs, and tribal small businesses with <= 500 employees. |
| ▪ | Up to $2 million can be provided to help meet financial obligations and operating expenses that could have been met if the disaster did not occur. |
| ▪ | Loans can be made based solely on credit scores. |
| ▪ | The interest rate on EIDLs will be 3.75 percent interest rate for small businesses. |
| ▪ | The first twelve payments will be deferred and not become due until one year after the original disbursement. Interest does not accrue during this time. |
| ▪ | The term of these loans will be up to thirty years. |
7(a) Loan Payment Relief
SBA will pay the principal, interest, and any associated fees owed on 7(a) loans as follows:
| ▪ | Existing borrower not on deferment: six months beginning with the next payment due on the loan; |
| ▪ | Existing borrower on deferment: six months of payments beginning with the next payment due on the loan after the deferment period; and |
| ▪ | New borrower: six months of payments beginning with the first payment due on the loan, but only for new loans made within the first six months starting from the date of enactment. |
Should you need assistance, the UGA Small Business Development Center offices across the state are open and available. Contact information for every office is available HERE.
Earlier today Kemp released details on Medicaid and Peachcare waiver.