SBA Wyoming District Office Newsletter - June 2020

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Wyoming District Office - June 2020

u s small business administration

Rural Healthcare and PPP: How the Program is Helping
Providers Serve their Communities

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Rural communities across America offer a certain appeal – access to prime outdoor recreation, tight-knit relationships and a slower pace. These communities also face their own unique set of challenges, and often find creative ways to overcome them.

A smaller town means a smaller population, and businesses and organizations rely heavily on recruitment to bring the best, most-qualified professionals to their area. That’s only half the battle, though, as retention is key to economic survival.

This challenge is no more prevalent than it is in the healthcare sphere, where rural hospitals and clinics depend on talented, qualified medical professionals that are willing to relocate to their community. Losing these workers due to an economic downturn – such as the one our country is facing due to the effects of COVID-19 – can be catastrophic.

“It’s certainly a challenge recruiting people to a small town because we are so remote,” said Margie Molitor, CEO of Hot Springs County Memorial Hospital in Thermopolis, Wyo. “And, though we’re thankful this hasn’t happened yet, if our community is severely impacted by COVID-19, we’ll need those professionals here to take care of everyone.”

In addition to the hospital, Molitor’s organization includes three rural health clinics in Worland, Basin and Thermopolis and employs roughly 160 people. Molitor says by adhering to CDC guidelines, her institution experienced a 60 percent reduction in revenue in April.

“To be clear, eliminating elective surgeries and changing our operations in an effort to preserve PPE (personal protective equipment such as masks) was absolutely the right thing to do for our country,” Molitor explained. “But, it definitely had an impact, and we were faced with the possibility of furloughing employees, as salary and benefits account for about 50 percent of our expenses. If we had to furlough folks, we may very well have lost them for good.”

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Additional Headlines

Paycheck protection program, PPP

PPP Saves Over 127,000 Jobs in Wyoming

As of June 6, the SBA had approved 12,830 Paycheck Protection Program loans in Wyoming. This volume of loan approvals equates to roughly 10 years of annual loan approvals in Wyoming made in less than three months. An estimated 127,410 jobs have been saved by the PPP in Wyoming – nearly one-fifth of the state's total population. The average size of each PPP loan is $104,000.

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Writing an Effective Capability Statement for Government Contractors

By Janean Forsyth Lefevre, Procurement Specialist
Wyoming Procurement Technical Assistance Center

Small businesses in every industry can potentially expand their markets by selling their products or services to government agencies and a big part of this is developing an effective capability statement. A capability statement is essentially a “resume” for your business — giving contracting officers, small business specialists and other agency representatives a good idea of who you are, what you do and how you differ from your competitors. You can hand out paper versions of your capability statement at conferences, tradeshows and matchmaking events. You can post it on your website and/or email it directly to contracting officers or even prime contractors you hope to sub-contract with.

A critical marketing tool in contracting, a good capability statement effectively and concisely communicates with potential government customers. If you are thoughtful and creative, you can create a capability statement that grabs attention and interest — potentially leading to exciting contracting opportunities.

Capability statements should be brief and to-the-point. One single-sided page is ideal. Consider using graphics, logos and other visual elements but be sure that it is a high-quality, searchable PDF so you can easily email it to contracting officers and other contacts.

Your capability statement should include:

  • Title: Something as simple as “Capability Statement”
  • Core competencies: What are you REALLY good at? Keep this focused- don’t try to be all things to all people.
  • Past performance: Who have you worked with in the past? What kinds of jobs?
  • Differentiators: What sets you apart from your competitors? What can you do that no one else does? Or, how do you do it better?
  • Company data: Contact information, website, NAICS/PSC codes, DUNS number and CAGE code
  • Logo and graphics

Once you have a good draft, be sure to solicit feedback from others, including your Wyoming Procurement Technical Assistance Center! We are available to review capability statements and provide tips to increase their effectiveness.

For assistance with your capability statement, reach out to your local advisor for no-cost, confidential assistance at WyomingSBDC.org/sign-up.

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Upcoming Events

June 10: PTAC Lunch and Learn: Finding Opportunities on Public Purchase (Free Online Meeting)

Andi Lewis, Wyoming PTAC Program Manager will walk you through setting up and making the most of a free Public Purchase account, a great way to find and bid on state, county, and municipal solicitations. Attendees are encouraged to participate, so bring your questions, success stories, and tips for other businesses! Register here.

June 16: Protect your IP from Hackers (Free Webinar)

Cybersecurity is important for every small business, but it is especially important for high-tech companies that rely on intellectual property for business value. This webinar will provide information on how you can protect your data, systems, and intellectual property from threats, respond to events and recover quickly when cybersecurity related events occur. Register here.

June 17,18: SBIR/STTR Phase I Proposal and Cost Accounting Workshop (Free Webinar)

Do you have an idea for an innovation and need money to complete the research and development? If yes, then this two-day workshop is for you. Did I mention you get sample proposals? Yet another reason to learn how to get up to $1.5 million in seed funding without any equity dilution. Learn more and register here.


Around the State

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PPP Helps Evanston Entrepreneurs Get Back to Business

Fawn Powell, a U.S. Navy veteran and Mike Gatewood, a U.S. Army veteran purchased Flex Fitness, a 24-hour gym in Evanston, Wyo. when the former owner moved out of state. Powell, a personal trainer and nutritionist, and Gatewood, a self-defense instructor, didn’t want to see their home gym close.

“We had a tremendous opportunity to purchase the gym, so Mike and I partnered to make it happen, and it has been great,” Powell said.
Recent health and economic impacts from COVID-19 forced the business to close for 44 days, however.

“It was pretty scary as business owners, but our banker called and let us know about the Paycheck Protection Program (PPP),” Powell said. “Thanks to her, we got in on the first round of funding and had those funds a few days after submitting an application.”
Powell says PPP funds allowed their employees to come back to work and receive paychecks.

“We were closed to the public, but we still got a lot of work done,” Powell said. “We did a lot of deep cleaning and got the gym ready to go. When we were able to open, we were slammed, and the PPP funds helped us cover those extra hours we needed from our staff.”

Powell says while she understands that some people won’t be comfortable coming back to a gym just yet, the Flex Fitness staff will be there when they are.

“We’ve expanded our cleaning guidelines to ensure a safe, clean environment, and we’ll continue to do all we can to support our customers throughout this challenging time.”