1/7 CHBA Member Resources & Info

Upcoming Events
  • Annual Winter Sales Friday-Sunday, January 15-17
  • Chestnut Hill on Ice Friday and Saturday, January 29 and 30
 
Government Regulations
  • Small Business Tax Benefits Reminder from the Office of US Representative Dwight Evans. Click HERE to view.
  • Mayor Kenney has allowed museums, gyms, and libraries to re-open.
  • Sidewalk Cafe, Streetery, and Extension License Updates: "Subject to limitations, all Temporary Sidewalk Café/Streetery Licenses issued as of December 31, 2020 will be automatically renewed and remain valid until December 31, 2021. All Extensions recognized as part of a license issued prior to January 1, 2021 expire as of that date. To continue to operate an Extension after that date, a new Extension approval must be issued. Current license holders may apply for a new extension by submitting an amendment to their current license." See HERE for full updated regulations.

Marketing and Events
  • Spirit of Small Businesses Program w/76ers: Through the Spirit of Small Businesses initiative, the 76ers will have a local small business announce the game, opponent, jersey, and where to watch the game. Participating businesses will also be given the opportunity to promote their business via 76ers digital channels (e.g., Twitter, Instagram, etc.). You can see the first business highlighted (Down North Pizza), HERE. Any business who is interested can apply to be featured through this FORM.
  • Google Content Request Form Reminder: Don't forget to make use of the Google Content Request Form, created by En Route Marketing, to make sharing your announcements or promotions as easy as possible on Chestnut Hill’s Facebook page. Click HERE to submit your requests.
  • November Monthly Report: View En Route's monthly report for November 2020 HERE
  • OMC Shopping Day Update: OMC Shopping Day will be Sunday, January 24th. Thank you to everyone who replied with your input. Please email Cache if you would like to participate so we can send you additional information.

Crime and Safety
  • Emergency Planning: On a call with the local economic development organizations today, the City's Office of Emergency Management recommended that small businesses visit the department's Make A Plan webpage (link HERE). The page offers guidance and resources that can assist business-owners in planning for evacuation and immediate response to emergency situations, as well as planning for longer-term business continuity in a variety of scenarios.
  • Crime Reporting Procedures: If your business is the victim of a crime, remember not to delay in calling 911 and reporting it to the Police as soon as possible. This ensures that you receive police assistance when it is required, and results in the incident being catalogued in the 14th District's crime statistics and mapping, which can affect deployment of police resources. Detailed reports can also help connect a perpetrator to multiple crimes. Once you report the incident to the police, you can contact the CHBA office at 215-247-6696 or inquiry@chestnuthillpa.com to share any descriptions, photos, or footage that you believe may be useful to your fellow merchants.  The CHBA will then issue an alert via email and voice/text messaging to apprise member businesses of the incident.
  • City of Philadelphia Mental Health Resources: Click HERE to view resources.

Member Offers

Educational Resources
  • Goldman Sachs 10,000 Small Businesses: Click HERE to learn more

Webinars

Upcoming Meetings
  • Currently all meetings are virtual, and CHBA members are sent links by email. You can also click on the meeting title below to join the Zoom session at the time of the meeting. Any member who is having difficulty accessing an upcoming meeting should email koneill@chestnuthillpa.com for assistance.


ICYMI

Stimulus Bill Passed by Congress Promises Another Round of PPP Loans

The stimulus bill which was passed by both houses of Congress last night, and which the President is expected to sign, includes $284.5 billion to reauthorize the Paycheck Protection Loan program. There are several details for businesses to be aware of with this new round. First, it includes restrictions intended to focus the assistance on smaller businesses, with 300 employees being the upper limit for eligibility; loan amounts are capped at $2 million. Second, it seems there will be a focus on those businesses who have not yet received money in previous rounds of the PPP; however, previous recipients will have "a second chance at PPP money if they can show losses of 25% or higher in 2020 over their 2019 revenue" (per Forbes), which should make most small businesses eligible. Thirdly, it is being reported that the new legislation reverses a previous unpopular restriction which had prohibited businesses from including normally-deductible expenses on their taxes if they were paid for with PPP funds; as always, consult your tax professional for individual advice. Finally, there will be a simplified process for applying and for seeking forgiveness for any loan under 150K. Loans will be available through the same banks and CDFIs as the past rounds, so it is wise to engage with your preferred lender in the coming days and keep an eye on when applications open.
Additional information:
Restaurants may take out an initial or second PPP loan for a larger amount than before. The previous amount was 2.5x the monthly payroll, but now they can get a loan for 3.5x the monthly payroll.
The SBA Debt Relief program payments, which cover the principal and interest due for 7(a), 504, or Microloan borrowers, are no longer considered gross income and are tax exempt