> Covid-19 Update: Changes to PPP and Events This Week

Covid-19 Update: Changes to PPP and Events This Week

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:
  • Extends the period to use PPP funds from 8 weeks to 24 weeks
  • Reduces the minimum payroll spend to 60% (from 75%)
    Borrowers can now use the 24-week period to fully restore their workforce levels and wages (December 31 instead of June 30)
  • Businesses now have five years to repay the loan, instead of two
The new legislation also includes a number of updates and exceptions related to loan forgiveness, the rehiring of employees, and the payment of payroll taxes.

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.


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Events

WHS Reusable Shopping Bags
Dec 31, 2020 at Windsor High School Project Graduation
Tourism Committee Meeting
3rd Tuesdays at online
Windsor Women In Business
Third Wednesdays at online
Lunch Program - 60+ Delivery/PickUp
Weekdays at The Senior Center
Winter Tree ID Hike
Jan 25 at Northwest Park
Oscar Nominee Series
Jan 26 at Windsor Public Library
Young Naturalists Winter Hike
Jan 26 at Northwest Park
Cold Blooded Hibernators
Jan 27 at Northwest Park
Full Moon Hike
Jan 28 at Northwest Park
Virtual Nature Trivia
Jan 29 at Northwest Park
Ice Harvesting in New England
Jan 30 at Northwest Park
Tickborne Illness Support Group
Jan 30 at LP Wilson Community Center, 599 Matianuck Ave. Windsor, CT
Virtual Business Roundtable
First and Third Mondays at online
National Frozen Yogurt Day
Feb 2 at 1095 Kennedy Rd Suite 7B Windsor, CT
Oscar Nominee Series
Feb 2 at Windsor Public Library
Alzheimer's Support Group
Feb 9 at Kimberly Hall North 1 Emerson Dr. Windsor CT 06095 (via zoom)
Board of Directors Mtg
Feb 9 at online
Oscar Nominee Series
Feb 9 at Windsor Public Library
Tickborne Illness Support Group
Feb 13 at LP Wilson Community Center, 599 Matianuck Ave. Windsor, CT
Programs Committee Mtg
Feb 15 at online
Virtual Business Roundtable
First and Third Mondays at online
Oscar Nominee Series
Feb 16 at Windsor Public Library
Tourism Committee Meeting
3rd Tuesdays at online
Windsor Women In Business
Third Wednesdays at online
Tourism Committee Meeting
3rd Tuesdays at online
Windsor Women In Business
Third Wednesdays at online
Virtual Business Roundtable
First and Third Mondays at online
Board of Directors Mtg
Feb 9 at online
Programs Committee Mtg
Feb 15 at online
Virtual Business Roundtable
First and Third Mondays at online
Tourism Committee Meeting
3rd Tuesdays at online
Windsor Women In Business
Third Wednesdays at online
WHS Reusable Shopping Bags
Dec 31, 2020 at Windsor High School Project Graduation
Tourism Committee Meeting
3rd Tuesdays at online
WHS Reusable Shopping Bags
Dec 31, 2020 at Windsor High School Project Graduation
Tourism Committee Meeting
3rd Tuesdays at online
Windsor Women In Business
Third Wednesdays at online
Lunch Program - 60+ Delivery/PickUp
Weekdays at The Senior Center
Winter Tree ID Hike
Jan 25 at Northwest Park
Oscar Nominee Series
Jan 26 at Windsor Public Library
Young Naturalists Winter Hike
Jan 26 at Northwest Park
WHS Reusable Shopping Bags
Dec 31, 2020 at Windsor High School Project Graduation