COVID-19 Program Updates

SBA Interim Final Rule for Paycheck Protection Program
The Department of Treasury just released a new   Interim Final Rule   on additional eligibility criteria and requirements for the SBA's Paycheck Protection Program (PPP). Additionally,   updated FAQs were released last night which provide more insight on how our industry can access the program. We will continue to alert you as new information is released. 

US Department of Labor Logo Temporary Rule: Paid Leave under the Families First Coronavirus Response Act  
On April 1, 2020, the U.S. Department of Labor announced new action regarding how American workers and employers will benefit from the protections and relief offered by the Emergency Paid Sick Leave Act and Emergency Family and Medical Leave Expansion Act, both part of the Families First Coronavirus Response Act (FFCRA). The Department's Wage and Hour Division (WHD) posted a temporary rule issuing regulations pursuant to this new law, effective April 1, 2020.  For more information, see  

HEDCO logo COVID -19 Business Response Program Line of Credit   
HEDCO, Inc. has partnered with Governor Lamont, State of Connecticut, the CT Department of Economic & Community Development (DECD) and the CT Minority Business Initiative to provide financial relief to minority-owned and women-owned small businesses negatively impacted by the coronavirus pandemic.

Under the COVID-19 Business Response Program, a qualifying small business with 20 or fewer employees may apply for a zero-interest Line of Credit for up to $20,000.

This $2 million program will be allocated to minority-owned and women-owned small businesses. The program will be administered and underwritten by HEDCO, Inc. Read More