Overview of State Programs, New & Existing


Hello All,
The below is an overview of programs available with links. Note the Paycheck Protection Program begins tomorrow 4/3/20.



PAYCHECK PROTECTION PROGRAM (PPP) Beginning April 3rd: Authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. All loan terms will be the same for everyone. The loan amounts will be forgiven as long as the loan proceeds are used to cover payroll costs, and most mortgage interest, rent, and utility costs over the 8-week period after the loan is made; and employee and compensation levels are maintained.  Payroll costs are capped at $100,000 on an annualized basis for each employee. Due to likely high subscription, it is anticipated that not more than 25% of the forgiven amount may be for non-payroll costs. Loan payments will be deferred for 6 months.

Starting April 3, 2020, small businesses and sole proprietorships can apply. Starting April 10, 2020, independent contractors and self-employed individuals can apply. You are encouraged to apply as quickly as you can because there is a funding cap. Contact your current lender to apply.  For more information, please read the Paycheck Protection Program Information Sheet 

MORTGAGE RELIEF: Over 60 banks and credit unions have agreed to mortgage relief homeowners and businesses facing hardship caused by the pandemic. These institutions may offer a 90-day grace period for all mortgage payments, relief from fees and charges for 90 days, no new foreclosures for 60 days, and no credit-score changes for accessing relief. More information on Mortgage Relief


TAX-FILING EXTENSIONS: The Department of Revenue Services has extended deadlines for filing tax and room occupancy tax returns for some businesses. Taxpayers that have $150,000 or less in annual sales-tax liability qualify for an automatic extension of time to file and pay. Similarly, taxpayers that have $150,000 or less in annual room-occupancy tax also qualify for this relief. A taxpayer that collects both sales tax and room occupancy tax must evaluate each tax separately to determine eligibility for relief. Tax Filing Extensions Information and Sales Tax & Room Occupancy Tax Information


UNEMPLYOMENT ASSISTANCE: Workers directly impacted by the coronavirus pandemic no longer must be actively searching for work to qualify for unemployment assistance. 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  

BUSINESS INTERRUPTION INSURANCE: A business interruption insurance policy should list or describe the types of events it covers. Events that are not described in the policy are typically not covered. It is important to review the policy exclusions, coverage limits, and applicable deductibles with your agent, broker or insurer. The Connecticut Insurance Department has a FAQ page that provides more information


REIBURSEMENT OF MEDICAL LEAVE COSTS FOR SMALL & MEDIUM SIZED BUSINESSES: The Connecticut Department of Insurance reminds small and medium-sized employers of recent guidance from the Internal Revenue Service (IRS) on COVID-19 related medical leave. Guidance from the IRS


DECD's COVID-19 BUSINESS EMERGENCY RESPONSE UNIT: The Connecticut Department of Economic and Community Development (DECD) has created a COVID-19 Business Emergency Response Unit dedicated to assisting businesses navigate resources and develop new resources. A dedicated phone line is available at 860-500-2333 to aid Connecticut's small businesses for this purpose.


SMALL BUSINESS OWNER’S GUIDE TO THE CARES ACT: On March 27, 2020, the United States Congress approved the Coronavirus Aid, Relief, and Economic Security (CARES) Act to provide the country with relief from the impact of COVID-19. Small Business Guide to the CARES Act


SBA ASSISTANCE: On March 16, the U.S. Small Business Administration approved Governor Lamont's request to begin offering disaster-relief loans to Connecticut small businesses and nonprofits. Companies in the state can now apply for loans of up to $2 million through a special page on the SBA website  SBA also has more information for businesses


National Coronavirus Response - A Roadmap to Reopining: A report, prepared by the American Enterprise Institute, that provides a roadmap for navigating through the COVID19 pandemic in the United States.

Roadmap to Reoping PDF




STAY SAFE, STAY HOME: The Governor signed an executive order directing Connecticut residents to "Stay Safe, Stay Home." It orders all nonessential businesses statewide to prohibit in-person functions. This remains in effect until April 22, unless modified. Guidance has been issued to the state’s businesses  


TRAVELERS: Any person coming into Connecticut by any mode of transportation for any reason is strongly urged to self-quarantine for 14 days.


GATHERINGS: All social and recreational gatherings of more than 5 people are prohibited. This includes things such as sports, parades, concerts, festivals, live performances, and conventions. Religious, spiritual, and worship gatherings of more than 50 are prohibited. This remains in effect through April 30, unless modified.


FOOD ESTABLISHMENTS: Restaurants and bars that serve food are required to provide take-out and delivery services for off-premise consumption only. These establishments must limit entrance of customers to the minimum extent necessary to pick up and/or pay for orders and use touchless payment if available. This order remains in effect through April 30, unless modified.


RETAIL ESTABLISHMENTS: Stores that are permitted to stay open under the "Stay Safe, Stay Home" executive order must follow "Safe Store Rules" that several requirements, such as a cap on occupancy at 50% capacity, and floor markings measuring 6 feet must be at checkout lines, among other items. Safe Store Rules


GYMS, MOVIE THEATERS, HAIR & NAIL SALONS: All gyms, fitness centers, and similar sports venues; theaters and cinemas; and hair salons, barbershops, nail salons, spas, and tattoo parlors are closed until April 30, unless modified.


SCHOOLS: Classes at all public schools are canceled through April 20, unless modified.

CARES Act Information
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