|PPP Improvements: The Paycheck Protection Flexibility Act was signed into law Friday. The Act makes several important changes to the Paycheck Protection Program (PPP).|
The new law eases some of the program’s restrictions, giving small businesses more time to use their loans and letting borrowers spend more of their loans on non-payroll expenses.
Key changes to the PPP include:
While demand for PPP loans has slowed, funding remains available. More information can be found on the SBA website, including a tool to find lenders that are still issuing PPP loans.
Ways to Learn More: Connecticut's Small Business Development Center will present a webinar this Wednesday, June 10, at 11 a.m. on the PPP program, and what the changes in the Flexibility Act will mean for businesses who have not applied yet as well as those who already have. Click here to register.
You are also invited to the Chamber's Virtual Roundtable, held every Monday at noon via Zoom. This is an opportunity to share how you're grappling with the Covid-19 crisis, get ideas from your peers, and support each other.
In addition, Chamber Executive Director Adam Gutcheon and Jim Burke from the Town of Windsor will review the current state of the crisis, state and federal business relief measures (including the Flexibility Act), and what the Town and Chamber are doing in response.
Are You Open? Let Us Know: As Connecticut gets into the swing of reopening, the Chamber is here to help you spread the word. Please let us know your reopening plans so we can share them with the public in our Windsor Open For Business guide, and with our state and regional partners. Our seven-question should take no more than five minutes to fill out. Click HERE to take the survey.