Connecticut Bankers Association Provides Update on Paycheck Protection Program
Last week, the Connecticut Bankers Association made the most recent Connecticut-specific Paycheck Protection Program data available for public view. As of last Friday, 34,629 loans and $2,725,531,573 have been approved for Connecticut businesses.
In addition, the nationwide burn rate of dollars available for PPP loans has slowed dramatically, and there should be enough operational funding to keep the program running for several more months. This should come as a relief to small business owners who feared the program would run out of money quickly. If you were considering submitting an application, it’s not too late. If you did apply and were disappointed in the determination, now would be a good time to consult your banker and, using what you learned in an earlier application, try again.
For more information on PPP loans and to learn more about the application process, click here to be directed to the US Small Business Administration’s website.
DECD Launches Self-Certification for Businesses Opening on May 20
The Connecticut Department of Economic and Community Development (DECD) has launched the online self-certification tool for businesses that are opening on May 20 under state’s Phase 1 reopening process.
In order to open, businesses must self-certify and commit to comply with the sector rules established by the Reopen Connecticut Advisory Group to keep their employees and customers safe. Once complete, businesses will be provided with signage and a badge that they can voluntarily post on premises or on their website.
Please click here to be directed to the self-certification tool.
Reopen Connecticut Advisory Group’s Business Committee Holds Roundtable
The Reopen Connecticut Advisory Group’s Business Committee held a roundtable discussion yesterday to answer questions about the state’s phased reopening plan.
Click here to watch the video, which was streamed on CT-N.
While this meeting answered many business-related questions, my colleagues and I still have concerns about the transparency of the governor’s Reopen Connecticut Advisory Group. Most of the committee’s work is not available for public comment, nor is it subject to Freedom of Information Act statutes. Unfortunately, this means that the group is conducting business on behalf of Connecticut residents behind closed doors.
On Wednesday, it was also reported that the governor awarded a $2 million no-bid contract to a Massachusetts-based consulting firm to advise in the state’s reopening process. In a crisis that has upended the lives of nearly every resident and business owner in Connecticut, we should expect better from our government.
I will continue to voice these concerns and advocate that the state’s reopening process become more inclusive and transparent.
OLR Special Reports on COVID-19 Executive Orders
The Connecticut Office of Legislative Research (OLR) has released several useful summaries of executive orders signed by Governor Lamont throughout the COVID-19 pandemic. Click below for sector-by-sector OLR reports: