COVID-19 Business News
President Signs $900 billion Relief Package

Last week, the President signed the nearly $900 billion COVID-19 relief package passed earlier by both houses of Congress. The package includes continuation of the Paycheck Protection Program (PPP), new funding for Economic Injury Disaster Loans (EIDL) and Grants, extension of the Employee Retention Tax Credit, extended unemployment insurance benefits, and individual checks to certain taxpayers, and more. An effort to increase the size of checks sent to most Americans from $600 to $2,000 did not succeed.

Highlights of the package includes:

  • $325 billion allotted to help small businesses including $284 billion for first and second forgivable PPP loans and dedicated set-asides for very small businesses and lending through community-based lenders. (Note: These loans are made by private institutions, so members interested in applying for a first or second PPP should contact their bankers.)

  • Provision to allow businesses that received PPP loans to take tax deductions for the expenses covered by forgiven loans. 

  • $15 billion in dedicated funding for live venues, independent movie theaters, and cultural institutions.

  • Extension of the Employee Retention Tax Credit (ERTC) and expansion to make available to PPP recipients.

  • A $300-a-week federal subsidy for unemployed workers, including, gig workers and others who don’t ordinarily qualify for benefits, available through March 14, 2021.

As more details emerge, GSSCC will provide updated and expanded information.
Regal Paint Center Successful Business Pivot Story

A mixture of economic concerns and reluctance to have someone inside their homes during a pandemic led many consumers to put painting projects on hold or canceled outright. At the same time, many consumers stuck at home found the time to start home-improvement projects like painting. To serve this need and compensate for canceled professional painting services, Regal Paint Center of Silver Spring pivoted with a new website offering e-commerce and started a free home delivery service, resulting in consumer sales up over 40% since the site launch on May 1. Congratulations to Regal Paint Center!

Want to see your business successful pivot story here? Email your story to Jane here.
January Events
Start looking for your best Hawaiian shirt for the Young Professionals Network Virtual Beach Party Business After Hours, sponsored by CCI Health & Wellness Services!

There will be a cocktail demonstration by All Set Restaurant & Bar, a cooking demonstration by Corcoran Caterers, networking in breakout rooms, and a beach-themed trivia competition.

Thursday, January 28
5 p.m. - 6:15 p.m.
Latest News
Companies are Renewing Their Chamber Membership!

Thanks to these organizations for continuing to support the Chamber by renewing their membership during the past month. We're pleased to link readers to these businesses and the products and services they provide.
* NIH Federal Credit Union has announced that Zelle is now live in its secure online banking and mobile app platforms which enables convenient digital payments for its more than 41,000 NIHFCU members. Read the news release here

* Businesses interested in gaining access to a new and diverse talent stream with skills that match labor needs as well as the potential to increase performance and retention in some high-turnover, entry-level positions can turn to SEEC’s internship program, Project SEARCH. Contact Nancy Eaby, Program Director, Project SEARCH, or Pamela Toole, Lead Employer Outreach Consultant, for more information.


See your company's news here! Send us your news releases and news items by noon on Friday for publication in the following Monday's edition. Click here for guidelines on submitting Member News.
Does Your Business Need PPE?

As businesses re-open and employers are tasked with providing PPE for their returning employees, GSSCC launched a “Back to Business Products” page on our website for members looking to purchase PPE products, signage, and more. If your business is selling PPEs and you would like to be on this page, please complete this form and send it to Julie at jpawlikowski@gsscc.org.
Upcoming Committee/Network Meetings

* Small Business Owners Network Virtual Meeting - 12 Noon on Thursday, January 7. Topic: Getting Ready for Tax Season. (Advance registration required here.)

* Non-Profit Team Virtual Meeting - 9 a.m. on Tuesday, January 12.

* Membership Development Committee Virtual Meeting - 9 a.m. on Tuesday, January 26.

* Economic Development Committee Virtual Meeting - 9 a.m. on Wednesday, January 27.
OUR MISSION:
Working to enhance the economic prosperity of greater Silver Spring through robust promotion of 
our member businesses and unrelenting advocacy 
on their behalf.
Thank you to our 2019-2020 GSSCC Partners

Corporate Partners - Downtown Silver Spring; Lee Development Group; Montgomery College; Joseph W. McCartin Insurance;
Adventist HealthCare White Oak Medical Center

 Business Partners - Andalman & Flynn, AFI Silver Theatre; Apex Home 
Loans; Atlantech Online; Digital Industry; EagleBank; Holy Cross Hospital; The Fillmore Silver Spring; Lerch, Early & Brewer Chtd.; Linowes and Blocher, LLP; Revere Bank; The Tower Companies (The Blairs); United Therapeutics Corporation; Washington Property Company.

 Partners - Adam Lowe Creative; Bell Flowers; EBA Ernest Bland Associates; Image360.
Greater Silver Spring Chamber of Commerce
8601 Georgia Avenue Suite 203
301-565-3777
info@gsscc.org