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UPCOMING EVENTS Cyber Security Summit
November 20, 2020
Online Networking Reception "Being Thankful for Business"
November 24, 2020
Online Networking Cocktail Reception
December 3, 2020
Greater New York Chamber Virtual Business Expo
December 8, 2020
Online Networking Coffee with the Stamford Chamber
December 15, 2020


Paycheck Protection Program Reform Bill Passed - Helping Small Businesses

June 4, 2020

The Senate tonight passed by voice vote a House-passed clearing it for President Donald Trump's signature.

The legislation would give small businesses more time to use emergency loans under the program by extending the eight-week period in which they must use the money to qualify for loan forgiveness to 24 weeks.
The bill would also give small businesses more flexibility by changing the so-called 75/25 rule, which requires recipients of funds under the program to use three-quarters of the money for payroll costs and to limit other costs to no more than 25% in order to be eligible for loan forgiveness. The new ratio would be at least 60% on payroll and no more than 40% on other costs.