KENTUCKY ANNOUNCES HEALTHCARE PARTNERSHIP, FIRST TASK FORCE MEETING, FUNDING ALTERNATIVES & MORE UPDATES
GLI’s COVID-19 Renewal Task Force convened for the first time today and I am excited to announce that Kerry Stemler of K.M. Stemler Co., Inc. has agreed to chair the initiative. I’ve been asked a few times why this initiative is called the “Renewal” Task Force. The term “renewal” means “to make new, fresh, or strong again,” and that is exactly the reason for its name. We will emerge from this stronger and more united than before. We will be renewed. The meeting today focused on short-term relief efforts such as testing capacity, PPE acquisition, and financial relief. The group will provide guidance on business response efforts to COVID-19 and I will continue to keep you updated on its progress through these emails.
Some of our speakers today included leaders who facilitated a groundbreaking initiative with the Commonwealth of Kentucky. Kentucky, in collaboration with the University of Louisville Christina Lee Brown Envirome Institute and the Louisville Healthcare CEO Council has developed a partnership with three large hospital systems – Baptist Health, Norton Healthcare and University of Louisville Health – that will help healthcare workers understand whether they were unknowingly exposed to COVID-19, determine how much immunity was generated by such exposure, and identify those with the best immune responses as donors of high quality plasma for rescue treatment of patients with advanced COVID-19. In addition, data collected will be informative as scientists worldwide work to determine whether quantitative antibody measurements that can be used to predict immunity in the overall workforce.
Because we know that testing is a critical need right now, UPS and Gravity Diagnostics have also joined the Commonwealth of Kentucky and Kroger to provide drive-thru testing with a 48-hour turnaround test time. This partnership is a key step in the state’s effort to flatten the curve and reduce the overall spread of COVID-19
WE NEED YOUR HELP
- GLI is partnering with the Federal Reserve Bank of St. Louis to conduct a confidential survey of business leaders for businesses with 50-500 employees in the seven-state region of the Eighth Federal Reserve District. The survey will directly assist monetary policymakers and regional leaders in making decisions that impact the employment and financial situations of businesses in our region. The survey does not require a firm name, and individual responses will be accessible only by a few economists at the Federal Reserve. The aggregate results will be analyzed and complied into a report for the public. If you have questions regarding this survey, please contact Charles Gascon, Regional Economist at the St. Louis Fed or Deana Epperly Karem at GLI.
- Now that the original funds of PPP and EIDL have been exhausted, businesses are looking for funding alternatives until another package is approved. Here are some options that we have come across:GLI, Louisville Forward, Render Capital and LHOME have announced a Small Business Continuity Loan Program. Small businesses with 10 or fewer employees that can show an emergency connected to COVID-19, located in Jefferson County in good standing with the Louisville Metro Revenue Commission are eligible. In this time of need, we would like to show solidarity in support for our business community. As such, we are issuing a challenge to the business community for each business to give $1,000. If we can all give a little, we can make an enormous impact. Will your company help? If you would like to donate, please click here.
- Facebook is offering $100 million in cash grants and advertising credits for up to 30,000 eligible small businesses. Eligible businesses interested in applying must be for-profit, have 2-50 employees, have been in business for at least a year, have experienced changes related to COVID-19 and be in or near a location where Facebook operates.
- The Newton Award for Transformative Ideas During the COVID-19 Pandemic will be presented to a single investigator or team of up to two investigators that develops a transformative idea to resolve challenges, advance frontiers, and set new paradigms in areas of immense potential benefit to DoD and the nation at large.
- The Omidyar Network COVID-19 Economic Response Advocacy Fund plans to infuse 501(c)(4) funding into national, state, and local advocacy and organizing efforts aimed at passing economic stimulus to address the immediate toll of the COVID-19 pandemic on working people while reshaping our economic structure to ensure they are less vulnerable in the future. Omidyar Network will award $1.5 million to groups working to realign this nation’s economic policies and systems so that they work better for everyone. The majority of the grants from the Fund will be for $75,000 or less.
- The Emergency Relief Program provides emergency funding to restaurant and bar owners and employees, as well as restaurant supplier employees, who are facing unforeseen expenses that cannot or will not be covered by insurance.
- The Save Small Business Fund is a grantmaking initiative funded by contributions from corporate and philanthropic partners. It is providing $5,000 in short-term relief to employers across the United States. These one-time supplemental cash grants are for businesses that have between 3 and 20 employees and operate in an economically vulnerable community. The grant application will go live on Monday, April 20 at 12:00 PM PT/3:00 PM ET.