Redstone Federal Credit Union

Summer 2020 Newsletter

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r e d f c u.o r g | 5 stimulus check because she said she could make do without it, to the disabled elderly man who gave a volunteer his last mask. "is community has shown its heart, its courage, and its tenacity,'' she said. Nourish needs the Rutherford County community to continue supporting its work through volunteerism, by telling others about them, through food donations, and with monetary donations. You may reach Nourish at nourishfoodbanks.org or 615-426-2463. SMALL BUSINESS RESOURCES AVAILABLE Many small businesses remain on a roller coaster of uncertainty due to COVID-19 economic aftershocks. e agencies in place to help them have been busier than ever since March. "Our workload almost tripled when this initially began," said Chris Swoner, director of the Small Business Development Center (SBDC) at Middle Tennessee State University, recalling the rush by business owners to apply for the Small Business Administration Paycheck Protection Program Loans and Economic Injury Disaster Loans. "By mid-May, those types of calls were slowing down," he said, "and we're getting more nuanced questions from people waiting on guidance on the loan forgiveness criteria." e forgiveness criteria are among the top three things business owners are asking about these days, according to Hilary Claybourne, director at University of Alabama in Huntsville's SBDC/Procurement Technical Assistance Center. e other two top questions include: • When can I operate at full capacity? • With the unemployment enhancement, how do I hire back employees who are making more money by staying home and collecting unemployment? Claybourne said businesses can either "longingly wish for things to be the way they were, or they can pivot, innovate, and be on the cutting edge of 'the next big thing.'" e UAH and MTSU centers have an extensive online library of resources that address various business topics. In addition, Redstone's business members can contact their business relationship officer or call 256-327-1104 for assistance. Resources: UAH SBDC: www.uah.edu/sbdc • Middle Tennessee SBDC: www.tsbdc.org/mtsu

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