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LIC Update: June 4, 2020
As We Move Toward New York Forward, Continue to #SupportLICLocal
*We just added a new category for open parking garages, be sure to check out whose open if you're driving into the neighborhood!*
COVID-19: New Updates
Congress Passes PPP Fixes – We are happy to bring you the news that Congress has passed a bill that makes the Paycheck Protection Program more flexible. The key changes include:
  • Covered Period extended to 24 weeks, from 8 weeks previously
  • Reduced payroll ratio to 60%, from 75% previously
  • Extended rehiring deadline to December 31, 2020, from June 30 previously
  • Increase loan repayment period to 5 years, from 2 years previously, interest rate remains at 1%
  • Allow payroll tax deferral for PPP recipients
  • Allow certain recipients to be exempt from loan forgiveness exemption due to compliance with certain government requirements related to COVID-19

NY Forward Loan Fund Pre-Application Now Open - NYS has launched a new loan program for small businesses, non-profits, and small landlords who have not received funds from PPP or EIDL. The loan maximum is the lesser of $100,000 or average revenues in any 3-month period from 2019 or Q1 of 2020. The loans will carry a 3% interest (or 2% for non profits) and amortize in 5 years. Repayment includes an interest-only period during the first 12 months. Please visit the NYS website for  more information and the  pre-application form

Open Letter from MTA Chairman and CEO Patrick J. Foye to New York’s Business Community – The Open Letter includes public transportation recommendations for businesses planning their reopening. The MTA is also interested in contacting individual employers to understand their public transportation needs during Phase I reopening (sign up here ). For the latest information on MTA Service During the Coronavirus Pandemic, please visit this page .

We recently released a COVID-19 Business Recovery Survey to help us get a further understanding of how your business or organization’s recovery efforts and the challenges you anticipate facing as we begin to reopen LIC. Please fill out this survey to help us learn more about how we can best help you!

Small Group Webinars to Address PPP Questions - We are hosting a number of Small Group Webinars focus on helping businesses understand the PPP application process and address questions related to the loan forgiveness. Interested businesses can sign up for the webinars via SBS Connect.
LIC in the News
Featured Updates
NYC Office of Nightlife Recommendations for Takeout/Delivery
NYC Office of Nightlife has released recommendations for Social Distancing Guidelines for Restaurants and Bars offering Pickup/Delivery.

City & States upcoming webinar on June 9th at 2pm on NY's Reopening of the Economy and Recovery will feature panelists Lieutenant Governor Kathy Hochul, Congressman Thomas Suozzi and Parkside Group's Evan Stavisky.

Complete the 2020 Census
The  2020 Census  is of critical importance to New York, as tens of billions of dollars come to our neighborhoods based on how many people are living in our communities. 
We strongly encourage you to take 10 minutes of your time today to fill out the 2020 Census.

NYC Small Business Services
'Neighborhood Challenge: Connect & Recover'
  NYC Department of Small Business Service s is re-launching their Neighborhood Challenge program as "Neighborhood Challenge: Connect & Recover". The re-launched neighborhood challenge program is an online open innovation platform.

Initial submissions are now due by June 8th. Click here for more information.
Spotlight on #LICLocal
Photo by @licmarket
Photo of the Week

Use  #SupportLICLocal  or  #LICLocal  on Instagram or Twitter to submit your photo of the week. 
Thank you to our 2020 Annual Sponsors