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The original item was published from 5/21/2020 1:00:09 PM to 7/5/2020 12:00:03 AM.

News Flash

Economic & Community Development News

Posted on: May 21, 2020

[ARCHIVED] 05/21/20: Look What's Happening Around the Region

Trumbull Economic Development

Gov. Lamont releases Phase 2 & 3 reopening plans

Phase 1 of the reopening of Connecticut began on Wednesday, and stat officials released plans for Phases 2 and 3.

Governor Ned Lamont announced that Phase 2 reopening will begin approximately June 20, which will get the state even closer to what it looked like before the pandemic.

The Phase 2 businesses that are expected to reopen on June 20 are:

  • Hotels (no bar areas)
  • Gyms, fitness, and sports clubs
  • All personal services
  • Outdoor arts, entertainment and events (up to 50 people)
  • Outdoor amusement parts
  • Movie theaters
  • Bowling alleys
  • Social clubs, pools
  • All museums, zoo, aquariums
  • Restaurants (indoor, no bar)

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SBA and Treasury Release Paycheck Protection Program Loan Forgiveness Application

The Small Business Administration (SBA), in consultation with the Department of the Treasury, have released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application.

The form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). SBA will also soon issue regulations and guidance to further assist borrowers as they complete their applications, and to provide lenders with guidance on their responsibilities.

The form and instructions include several measures to reduce compliance burdens and simplify the process for borrowers, including:

  • Options for borrowers to calculate payroll costs using an "alternative payroll covered period" that aligns with borrowers’ regular payroll cycles
  • Flexibility to include eligible payroll and non-payroll expenses paid or incurred during the eight-week period after receiving their PPP loan
  • Step-by-step instructions on how to perform the calculations required by the CARES Act to confirm eligibility for loan forgiveness
  • Borrower-friendly implementation of statutory exemptions from loan forgiveness reduction based on rehiring by June 30
  • Addition of a new exemption from the loan forgiveness reduction for borrowers who have made a good-faith, written offer to rehire workers that was declined

The PPP was created by the CARES Act to provide forgivable loans to eligible small businesses to keep American workers on the payroll during the COVID-19 pandemic. The documents released today will help small businesses seek forgiveness at the conclusion of the eight week covered period, which begins with the disbursement of their loans.

Click here to view the application and instructions.

Business Resources 

Re-Open CT Protocols and Assistance Updates - Offices, restaurant outdoor dining, and retailers that wish to re-open starting today can find their rules at Sector Rules for May 20th Reopen. Before they re-open, however, these businesses MUST self-certify at Self Certification that they have followed the rules. These businesses also can get guidance from the Centers for Disease Control and Prevention (CDC) at CDC Re-Open Guidance on how to disinfect their workplaces, and small businesses can get similar information from the state’s Small Business Re-Opening Resource Guide.

The State of Connecticut, in partnership with the Connecticut Business and Industry Association and CONNSTEP, has announced that it will distribute a free infrared thermometer to eligible small businesses, nonprofits, and places of worship to help them to re-open. To request a thermometer, please visit Request a Thermometer.

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