The Central CT Chambers of Commerce is committed to bringing you the most up-to-date business news regarding COVID-19.
Archived information can be found by clicking here.
Archived information can be found by clicking here.
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CDC's Twitter Page
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Governor Lamont's Twitter Page
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Central CT Chambers Emails:
9/15: https://conta.cc/33BThTY 9/24: https://conta.cc/330VaKO 9/25: https://conta.cc/3ctZMvO 10/16: https://conta.cc/3dy80Uh 10/20: https://conta.cc/3dIvIND 10/21: https://conta.cc/3kwei9T 10/28: https://conta.cc/3k7KZRet 11/02: https://conta.cc/35Tzali 11/03: https://conta.cc/3mQKc1A 11/06: https://conta.cc/36a3vfp |
11/12: https://conta.cc/3eVY1sQ
11/17: https://conta.cc/38UlYj0 11/24: https://conta.cc/37c9VeG 12/02: https://conta.cc/2Vooarc 12/29: https://conta.cc/3hvtEuy 01/11: https://conta.cc/2LAov8t 02/23: https://conta.cc/37YdaaP |
PPP Loan Portal Reopens January 11th
SBA, in consultation with the U.S. Treasury Department, will open the Paycheck Protection Program loan portal TODAY and will initially accept First Draw PPP loan applications from participating CFIs, which include Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), Certified Development Companies (CDCs), and Microloan Intermediaries.
Second Draw PPP Loans will open on Wednesday, January 13. The PPP will open to all participating lenders shortly thereafter. Updated PPP guidance outlining Program changes to enhance its effectiveness and accessibility was released on January 6 in accordance with the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act.
This round of the PPP continues to prioritize millions of Americans employed by small businesses by authorizing up to $284 billion toward job retention and certain other expenses through March 31, 2021, and by allowing certain existing PPP borrowers to apply for a Second Draw PPP Loan.
Key PPP updates include:
SBA, in consultation with the U.S. Treasury Department, will open the Paycheck Protection Program loan portal TODAY and will initially accept First Draw PPP loan applications from participating CFIs, which include Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), Certified Development Companies (CDCs), and Microloan Intermediaries.
Second Draw PPP Loans will open on Wednesday, January 13. The PPP will open to all participating lenders shortly thereafter. Updated PPP guidance outlining Program changes to enhance its effectiveness and accessibility was released on January 6 in accordance with the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act.
This round of the PPP continues to prioritize millions of Americans employed by small businesses by authorizing up to $284 billion toward job retention and certain other expenses through March 31, 2021, and by allowing certain existing PPP borrowers to apply for a Second Draw PPP Loan.
Key PPP updates include:
- PPP borrowers can set their PPP loan’s covered period to be any length between 8 and 24 weeks to best meet their business needs
- PPP loans will cover additional expenses, including operations expenditures, property damage costs, supplier costs, and worker protection expenditures
- Eligibility is expanded to include 501(c)(6)s, housing cooperatives, destination marketing organizations, among other types of organizations;
- Greater flexibility for seasonal employees
- Certain existing PPP borrowers can request to modify their First Draw PPP Loan amount
- Certain existing PPP borrowers are now eligible to apply for a Second Draw PPP Loan
Fines for Businesses Violating COVID-19 Rules Increase To $10,000 Effective 12:01 a.m. Thursday, November 26th
Governor Ned Lamont today announced that he has signed an executive order increasing the amount that businesses can be fined for violations of the state’s COVID-19 sector rules and capacity limits to $10,000 per violation. The Governor said he is taking this action as the result of feedback he has received from municipal leaders, public health officials, and people from within the business community. Previously violations were accessed a $500 fine.
Click here for more information.
Governor Ned Lamont today announced that he has signed an executive order increasing the amount that businesses can be fined for violations of the state’s COVID-19 sector rules and capacity limits to $10,000 per violation. The Governor said he is taking this action as the result of feedback he has received from municipal leaders, public health officials, and people from within the business community. Previously violations were accessed a $500 fine.
Click here for more information.
Connecticut PPE for Small Business Qualified Vendor List
DECD has identified a need for sources for Personal Protective Equipment (PPE) for small businesses – that offer a reliable supply of quality product at reasonable and stable costs. Through a group of volunteers, led by the Capital Region Council of Governments, a Request for Qualifications was sent out and vendors were evaluated on various criteria and selected based on price, website availability and reputation to be a part of a purchasing agreement.
Click here for the Suppliers guide.
DECD has identified a need for sources for Personal Protective Equipment (PPE) for small businesses – that offer a reliable supply of quality product at reasonable and stable costs. Through a group of volunteers, led by the Capital Region Council of Governments, a Request for Qualifications was sent out and vendors were evaluated on various criteria and selected based on price, website availability and reputation to be a part of a purchasing agreement.
Click here for the Suppliers guide.
Connecticut CARES Small Business Grant Program: $50M Grant Program for Small Businesses and Nonprofits
The state has created the Connecticut CARES Small Business Grant Program to help small businesses and nonprofits that continue to be negatively impacted by COVID-19.
Small businesses and nonprofits in Connecticut with a 2019 payroll of less than $1.5 million OR 20 or fewer employees can apply for a one-time grant of $5,000. DECD will administer the program and online applications are estimated to begin the week of November 9. All funding will be disbursed by the end of the year.
Half of the funds will be allocated to small businesses and nonprofits located in towns and cities that have been designated as distressed municipalities. The program is funded from Connecticut’s portion of the federal CARES Act.
Click here to learn more.
The state has created the Connecticut CARES Small Business Grant Program to help small businesses and nonprofits that continue to be negatively impacted by COVID-19.
Small businesses and nonprofits in Connecticut with a 2019 payroll of less than $1.5 million OR 20 or fewer employees can apply for a one-time grant of $5,000. DECD will administer the program and online applications are estimated to begin the week of November 9. All funding will be disbursed by the end of the year.
Half of the funds will be allocated to small businesses and nonprofits located in towns and cities that have been designated as distressed municipalities. The program is funded from Connecticut’s portion of the federal CARES Act.
Click here to learn more.
Simplified PPP Loan Forgiveness Form
The Small Business Administration and Treasury Department released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans under $50,000.
Click here for the form.
Click here for the instructions.
The Small Business Administration and Treasury Department released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans under $50,000.
Click here for the form.
Click here for the instructions.
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