Comments Open on Paycheck Prevention Program (PPP)
Urgent Response Needed:
The Window on PPP Forgiveness Rules is closing fast.
We just learned that the Small Business Administration (SBA) is accepting comments on the Payroll Protection Program (PPP) for a limited time. Please let them know your concerns with the onerous forgiveness provisions of the program. Here are sample draft comments you can use.
To file your comments go to https://www.regulations.gov/comment?D=SBA-2020-0015-0001. and in the search bar enter SBA-2020-0015 and place your comments in the appropriate section.
After you have submitted your comments, send a letter to your Senators and Congressmen letting them know your concerns. Find contact information for your elected officials here.
The time to act is now - Don't delay. This may be our only opportunity to effect change in the PPP forgiveness guidelines!
NEFA Covid-19 Resources
Please note these resources are sent to us by reliable sources, but we are not responsible for the accuracy of the information contained. We provide these resources as general information, and to help our members navigate the complex landscape of doing business today.
In light of the recent pandemic and the incredible stress it has put on many of our member's business, we are compiling a list of resources to aid drycleaners cope with the hardship. We will add more as they become available:
SBA Loan Information and Applications are here!
Very Good Explaination of the Paycheck Protection Program
Click Here for a Cares Act Synopsis including new loans details -- from Venable, LLP
Click Here for a Preview of the CARES Act Resources for Workers and Families
CT Offers Emergency No-Interest Loans Click Here for Detail
- First Come/First Serve Basis
- Loan maximum of (a) $75,000 or (b) three months operating expenses, whichever is less
- 0% interest rate
- 12-month term, with 6-month extension available per request
- Freely pre-payable
- Working capital loan
- Personal guarantee and credit score required
Massachusetts Business & Employment Info: Updates on Unemployment changes for employers and employees, Small Business relief & Loan applications
FAQ On Families First and DOL Info -- From Lewitt Hackman
SEAY Management Alert: Families First Coronavirus Response Act. Update on Sick Leave, Family and Medical Leave, a summary of employee benefits, tax credits for Employers, Unemployment Benefits.
DLI Facebook Group (Join Here) -- NEFA, SEFA, MAC and CCA started a Facebook Group to provide a forum for members to share questions, concerns, and experiences as we all try to adapt to the new reality in face of the pandemic. Due to the success of the Group -- and the need for every member to get as much information as possible -- we have expanded it to a DLI Facebook Group. This is a MEMBERS ONLY forum.
Your membership at work!
For more information on any of these service or programs contact Peter Blake 603-635-0322 or email@example.com