On Friday, May 8th - The Greater New York Chamber of Commerce hosted Small Business Friday, a free, online conference celebrating Small Business Day that was sponsored by NYRX Card and Atlantic Westchester HVAC Solutions. This complimentary conference consisted of a day of online networking events, workshops, resources & assistance to help connect and grow small businesses.

The celebration started with an Online Speed Networking Reception. Followed by informative webinars ranging from "Adapting Your Business Environment to The New Normal" hosted by ConnectMeVoice, Michael Einbinder from the law firm of Einbinder & Dunn LLP spoke about Rent Relief and "How to Update Outdated Corporate Documents". During the noon time hour New York State Comptroller - Thomas P. DiNapoli spoke about NY City's Budget along with updates by Peter Fehnel of the U.S Small Business Administration, Brenda Luke from the IRS and Shari Rosen Ascher representing the Office of the Westchester County Executive. The afternoon session began with Peggy Beldon from Sandler Training talking about "How to Succeed in Uncertainty" which was followed by Valerie Ferrier of Martin Clearwater & Bell LLP who presented important employment law considerations for returning to work amid Covid. That was followed by "How to create multiple streams of income from home that are flexible & lucrative" hosted by Drew Beran of ibuumerang. We closed "The Small Business Celebration" with another online speed networking reception.

On April 15th the SBA and Dept of Treasury announced that the funding for the Payroll Protection Program ("PPP") had been exhausted. A survey of our membership indicates that no one got any money. This has us concerned!

The applications were supposed to be processed on a first-come, first-serve basis. Many of our members filled out their applications the first day; but have nothing to show for it. Where did the money go?



.

Celines Cisneros, Mass Mutual Financial Services talking about college planning, cash flow retirement estate planning tax strategies during the GNYCC online "Happy Hour". She was joined by: Airlogix, AlphaGraphics Stamford, Coorva, Farmers Insurance, Latin Insights, NewYorkNames.com, Opstack Inc, Paragon Partners, Peak Power Metro, PrestigePEO, Sandler Training, Uvietech Software Solutions Inc., Willow Path Consulting, LLC and Young Living Essential Oils

Due to COVID-19, many employers are now asking their employees to work from home. This new situation presents many challenges, including how to work from home both securely and productively. The GNYCC asked Dan to give helpful tips on how to work remotely.The main point is that one cybercrime, in a matter of minutes, can take away years of hard work that people have put into creating and building their businesses.

Chamber member Augusto Castillio from Coorva Software participates at the GNYCC weekly "Speed & Pitch" Networking Receptions all the way from Argentina to stay connected with businesses. He pitched that his software platform services can help anyone around the world.These popular online networking are so popular that they get closed out.

Others that attended were: NewYorkNames.com, Everleagues Inc., SAIPR, Mike Greenly Marketing, Inc., City National Bank, Furgang & Adwar, LLP, Sita Tours, Axelon Services, Dr. Steven Hoody, American Software LLC, Mass Mutual, D&D Elevator, Batra Real Estate
Infolytx, Inc., EMRG Media, Cipher Cybersecurity, The Keyes Company and the host Joe Rojas from Red Sapiens.

On Friday April 3rd, the Greater NY Chamber hosted an SBA online conference about Disaster Relief Loans (including: paycheck protection, economic injury disaster loans & advance grants). Over 1000 people registered. They were the first to learn about the important changes in the economic disaster injury loans (EIDL) application and the $10,000 advance loan/grant process. Therefore; we are advising everyone who applied for the EIDL Loan before March 30th - to resubmit the new EIDL loan application and get a new confirmation number. GO TO :https://covid19relief.sba.gov/#/
Again; if you or anyone you know needs help with loan applications, unemployment, health insurance or prescription drug information; please contact the Chamber (212 CHAMBER) and we will assign someone from the Chamber's Legal Center or an economic development specialist to help you.

Small Business Continuity Fund

Businesses with fewer than 100 employees who have seen sales decreases of 25% or more will be eligible for loans of up to $75,000 to help retain employees and ensure business continuity. The loan can be deployed for a variety of uses, including working capital, inventory, or other investments.

Businesses who would like to apply for the loan must meet the following requirements:
Be located within the five boroughs of New York City
Demonstrate that the COVID-19 outbreak caused at least a 25% decrease in revenue
Employ 99 employees or fewer in total across all locations
Demonstrate ability to repay the loan
Have no outstanding tax liens or legal judgement

As part of the application, businesses will be required to demonstrate a revenue decrease by providing documentation such as: point-of-sales reports, bank statements, quarterly sales tax filings, 2019 tax returns, or CPA-certified profit & loss statements.