Business

Business

COVID-19

Danbury Businesses, we want you to know that there are resources available to you. The City of Danbury understands the difficult circumstances that you are going through due to COVID-19. We want to make sure you understand the resources available to you during this difficult time. We are stronger together and will get through this as a community.

Please check back regularly as information is updating rapidly. If there is something else you need assistance with, please contact Roger Palanzo, the Director of Economic Development & Business Advocacy.
[email protected]

Recent Message from DECD

The federal government just approved a $900 billion stimulus package to deliver economic relief to small businesses and Americans impacted by the pandemic. The package includes the following support for businesses and employees:

  • $325 billion for small businesses, including $284 billion in loans through the Paycheck Protection Program (PPP)
  • Direct payment checks of up to $600 per adult and child
  • Enhanced unemployment insurance benefits of $300 per week
  • Extension of the eviction moratorium and $25 billion for rental assistance
  • Extension of the tax credit for employers offering paid sick leave

The new round of PPP funding provides a great opportunity for companies that did not receive a forgivable PPP loan earlier this year. It also allows businesses with 300 or few employees that experienced more than 25% revenue loss over comparable 2019 quarters to secure a second forgivable PPP loan.

The PPP will continue to be managed by the U.S. Small Business Administration (SBA), and loans will once again be secured through an SBA-approved bank, credit union or fintech. Here is a list of participating lenders.

I recommend you begin working with an approved lender now as there could be high demand for this program. For those companies applying for a second PPP loan, working with the same financial institution could speed up the application process for your business.

More information should be available on the SBA website soon, but in the meantime, the Connecticut Small Business Development Center (SBDC) will host multiple webinars to help you understand what information you may need to apply for a PPP loan. Click here to register for one of the webinars.

The PPP has been a huge boost to Connecticut businesses that continue to struggle under the economic realities brought on by this pandemic. To date, Connecticut companies and nonprofits have secured almost 65,000 PPP loans worth approximately $6.7 billion.

I strongly encourage businesses and nonprofits to remain aggressive and take advantage of this worthwhile program without delay.

Sincerely,

David Lehman, Commissioner
[email protected], (860) 500-2310

El gobierno federal acaba de aprobar un paquete de estímulo de $900 millones para proveer alivio económico a los pequeños negocios y a americanos impactados por la pandemia. El paquete incluye el siguiente apoyo para empresas y empleados:

$325 billones para pequeños negocios, incluyendo $824 billones en préstamos a través del PPP - Programa de Protección de Salarios
Cheques de pagos directos de hasta $600 por adulto y niño
Beficios de seguro por desempleo de $300 por semana
Extensión de notificación de desalojo y $25 billones para asistencia de renta
Extensión del crédito de impuestos para empleadores ofreciendo pago por enfermedad
La nueva ronda de fondos PPP provee una gran oportunidad para las empresas que no han recibido un préstamo PPP perdonable, a principios del año. También permitirá a los negocios con 300 o menos empleados que hayan experimentando más del 25% durante trimestres comparables de 2019 asegurar un segundo fondo perdonable de PPP.

El PPP continuará siendo manejado por la Administración de Pequeños Negocios de Estados Unidos (SBA) y los préstamos serán asegurados por un banco o entidad financiera aprobada por SBA. En este enlace, está la lista de entidades participantes.

Recomiendo empezar a trabajar con su entidad bancaria aprobada, desde hoy mismo, pues hay alta demanda por este programa. Para esas compañías solicitando un segundo préstamo de PPP, el trabajar con la misma institución financiera puede acelerar el proceso de la solicitud para su negocio.

La página web de SBA tendrá disponible más información pronto. Mientras tanto, el Centro de Desarrollo de Pequeños Negocios (SBDC) realizará varios seminarios web para ayudarlo a entender qué información necesita para solicitar un préstamo PPP. Regístrese aquí para uno de los seminarios web (https://ctsbdc.com/federal-relief-funding-updates-multiple-dates/).

EL PPP ha sido un gran impulso para los negocios de Connecticut que continúan luchando bajo la realidad económica que ha traido la pandemia. A la fecha de hoy, las empresas y organizaciones sin fines de lucro de Connecticut han asegurado cerca de 65,000 préstamos PPP, en un valor aproximado de $6.7 billones.

Recomiendo encarecidamente a toda empresa y organización que tomen ventaja de este programa lo más pronto posible.

Sinceramente,
Comisionado David Lehman
[email protected], (860) 500-2310

COVID-19 Resources for Businesses

On Sunday, Governor Lamont asked the U.S. Small Business Administration to begin offering disaster-relief loans to Connecticut small businesses and non-profits. The SBA approved his request. Companies can now apply for loans of up to $2 million through a special page on the SBA website. SBA also has more valuable information for businesses.

Learn More

Workers directly impacted by the coronavirus pandemic no longer must be actively searching for work. And employers who are furloughing workers can use the Department of Labor’s shared work program, which allows businesses to reduce working hours and have those wages supplemented with unemployment insurance. DOL has more information about these and other changes.

Learn More

Your business may be effected by Governor Lamont's recent executive orders. Please read them in full.

Learn More

SBA Launches Portal to Begin Accepting
Shuttered Venue Operators Grant Applications on April 8
National informational webinar to review application process on March 30

WASHINGTON – The U.S. Small Business Administration is launching a splash page for the Shuttered Venue Operators Grant (SVOG) application portal today in anticipation of opening applications for the much-anticipated critical economic relief program on Thursday, April 8, 2021.

“Help is here for venue operators hit hard by the COVID-19 pandemic. The SBA has worked diligently to build the Shuttered Venue Operators Grant program from the ground up to assist and address the diverse eligibility requirements of each type of applicant and we will open for applications on April 8,” SBA Administrator Isabella Casillas Guzman said. “The SBA knows these venues are critical to America's economy and understands how hard they've been impacted, as they were among the first to shutter. This vital economic aid will provide a much-needed lifeline for live venues, museums, movie theatres and many more.”

Prior to the official SVOG application opening, the SBA will host a national informational webinar to highlight the application process for potential eligible entities from 2:30 to 4 p.m. ET on Tuesday, March 30, 2021. Those interested in participating can register here.

The SVOG program was established by the Economic Aid to Hard Hit Small Businesses, Nonprofits and Venues Act, which appropriated $15 billion for it. The American Rescue Plan Act, signed into law by President Joe Biden on March 11, 2021, appropriated an additional $1.25 billion, bringing the program funding to a total of $16.25 billion, with more than $16 billion allocated for grants.

To ensure eligible venues do not miss a window to receive assistance through the Paycheck Protection Program, the American Rescue Plan Act also amended the SVOG program so entities that apply for a PPP loan after Dec. 27, 2020, can also apply for an SVOG, with the eligible entity’s SVOG to be reduced by the PPP loan amount. The PPP loan applications have been updated to reflect this.

As the SBA builds and prepares to open the program, the dedicated SBA website, www.sba.gov/svogrant, which includes frequently asked questions, video tutorials and other SVOG details, is the best source for information for those looking to apply for a grant. To prepare in advance of the SVOG application portal opening on April 8, potential applicants should get registered in the federal government’s System for Award Management (SAM.gov), as this is required for an entity to receive an SVOG, and reference the preliminary application checklist and eligibility requirements.

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About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start and grow their businesses. It delivers services to people through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

Danbury's Pro-Business Climate

Ranked the best small city in Connecticut to start a business, Danbury is the place where your company will shine. Local businesses are leveraging our unique combination of assets to gain a competitive advantage in today’s global marketplace.  These assets and resources include a pro-business climate, a creative, educated and talented workforce, an excellent education system, transportation advantages, a superior quality of life, and much more!