As we await an announcement from the government about a relief bill that would replenish funds for programs like PPP and EIDL, we want to offer some information that we’ve gathered from landscape companies that have been through the application process.

If you were unable to secure funds in the first round of applications or if you are just considering it for the first time, it is important to be ready to apply the moment new funds are made available. Take this time to prepare yourself with these tips:

Talk with your bank. Stay in touch with your bank and maintain a good relationship with your contact. Be sure that they are aware of your intention to apply for relief funds and ask them for any advice they might have. Most importantly, make sure that your bank is an approved 7A lender, has the capacity to accept your PPP or EIDL application, and will be available to help you.

If your current bank is not able to help you, you might consider contacting other banks. We spoke with some company owners who had to take their application elsewhere when their existing bank was not cooperating with them. Be sure that other lenders you approach are accepting applications from new customers; some banks have restrictions on handling relief loans for customers that have not had a previous relationship with them.

Get your paperwork in order. Don’t wait until the funds are announced to begin the process of applying. Talk with your lender and find out what they will need to process your application. Get all of the necessary documents ready to move quickly. When the process reopens, you should already have digital copies of all documents on standby for sending. This is a digital, online process; the pandemic’s restriction and the volume of applications expected mean that this is not the time to complete the process on paper. Don’t slow yourself down by trying to print and mail a handwritten paper application.

Beware of scams. The pandemic has created a new crop of scams. Many scams or phishing emails can look incredibly convincing and can prey on your desire to complete the funding process quickly. Note that the SBA will not email you directly about your application. If you receive such an email, pick up the phone and call your bank. Before giving out any sensitive information by phone or email, take a moment to call your lender directly to confirm that the call or email is legitimate.

ALCC has put together a number of resources related to PPP and EIDL on our blog. To learn more, we also recommend the following organizations:

• Small Business Administration is the government agency that administers the relief funds. To find a counselor or other help near you, use the SBA local assistance finder at https://www.sba.gov/local-assistance/find/
• Colorado Small Business Development Center offers a number of resources, including upcoming and recorded webinars about the relief application process.
• Small Business Majority has a variety of resources, including recorded webinars, including Ask a Lender & a State Agency: COVID-19 Funding in Colorado and COVID-19 Disaster Relief: Resources and funding options for impacted small businesses.

Please follow our blog for breaking news and visit www.alcc.com/covid for helpful resources. You can also keep up with our latest blog posts by following us on Facebook, Twitter, or LinkedIn.

Let us know how your experience with the relief application process is going. Your feedback lets us know where we need to focus our advocacy efforts in order to support you.

Warm regards,

John

John McMahon | Chief Executive Officer
Associated Landscape Contractors of Colorado