PPP Loan Program Re-Opens for First and Second PPP Loans

Paycheck Protection Program (PPP) loans – both first and second loans – have been extended through March 31, 2021 or until funding runs out. First-time PPP borrowers at community development financial institutions may begin submitting applications this week, with second loans and additional lenders soon to follow.

Small businesses must apply for PPP loans through a qualified financial institution, not through the SBA. Both the first and second loans are eligible for forgiveness when the loan’s funds are used according to the terms and conditions of the program.

First PPP Loan

Eligibility:
  • 500 or fewer employees (including sole proprietor, independent contractor, or self-employed individual)
  • Been in business prior to February 15, 2020
SBA Documents:

Second PPP Loan

Eligibility:
  • 300 or fewer employees (including sole proprietor, independent contractor, or self-employed individual),
  • 25% or more reduction in gross receipts in Q1, Q2, Q3, Q4 of 2020 compared to same quarter in 2019 or 25% reduction in annual receipts in 2020 compared to 2019.
  • Used all the funds from the first PPP loan (not required to have applied for forgiveness yet)
  • Been in business prior to February 15, 2020
SBA Documents:


Loan Amount Calculation

Loan amount is based on 2.5x the average 2019 monthly “payroll” costs, 2020 monthly “payroll” costs, or measured over the 12 months preceding the loan. Businesses in hospitality and restaurants (NAICS Code 72) are allowed 3.5x average monthly payroll.

For more information on the PPP as well as EIDL and other business-friendly changes passes in the federal government’s December COVID-19 recovery package 2.0, see NFIB’s Recovery 2.0 Fact Sheet, join in NFIB’s COVID-19 webinar series or go to NFIB’s Coronavirus Resources hub.

PPP Round 2 Application Step-by-Step and Vaccine Updates for Small Businesses

Join NFIB’s next COVID webinar for in-depth discussion of the rules for a second PPP loan. We will also be joined by Jessica Brown, Esq., an employment attorney from the law firm of Gibson Dunn to address common employer questions related to the COVID vaccine.
  • The NEW SBA PPP Guidance Application
  • Steps to determine eligibility for a second PPP
  • Steps to calculate the amount of a second PPP
  • Employer considerations for mandating vaccinations and required exceptions
  • The latest on the CDC’s vaccine prioritization plan

This webinar was held on Wednesday, January 13 but the recording is available here.
SBA Emergency Loan Webinar: Process for applying and FAQs

SBA Emergency Loan Webinar:
Process for applying and FAQ's

Thursdays, 9 a.m. - 10 a.m.

Do you have questions about the SBA Emergency loan (2nd Round) for small business owners? This no-cost webinar is designed to provide our small business clients with answers to help you understand:

  1.  Who is eligible for an SBA Emergency 2nd round loan
  2.  What you need to have in hand before filing your application
  3.  Understand realistic timelines for approval/closing on your loan
  4.  Helpful guides to help you estimate your economic loss to SBA

Facilitating the call is PASBDC Director of Capital Acquisition, Marcia McGavisk. Marcia brings over 25 years of commercial SBA 7A lending experience and she has experience as VP of Operations with one of the largest SBA 504 lenders in the Commonwealth. Because of the anticipated number of people on this webinar, we will take questions through chat and we will try to address as many questions as possible in the one-hour time slot that we have available. Please recognize that we may not have all of the answers to questions about the eligibility for the second round PPP. But we will address as many questions as we have correct information to share.

Participants will receive more common screenshots of the SBA Emergency loan application. You will receive an FAQ about COVID-19 and other documents related to the loan application process.

A Zoom link will be provided upon registration.


FREE Workshop: Attend A New Way to Look at Marketing

WHEN: Thursday, January 21, 2021 from 5:30 to 7:30 p.m.

Marketing is likely the "second science" proposed and studied in business schools. Most people will agree that accounting and numbers were the "first science", but few will dispute that you cannot generate numbers for a company if you don't market the product. Marketing has long been recognized as part science and part magic.
There are many facets to marketing...some would call it to sales, others would say that it's advertising. In fact, marketing is sales, advertising, and much more. This workshop A New Look At Marketing will cover the following topics:

 
1.     Brand & trademark development
2.     Using a website & controlling SEO
3.     Online company listings (other than your website)
4.     How to use email marketing
5.     Using social media
6.     How to use print marketing

 
The workshop covers both the traditional aspects of marketing, but also offers a no nonsense look at the new media. The purpose of the workshop is to give you the opportunity to reassess your marketing strategy or to refresh your current strategy.

The 2021 Healthcare Challenge for Employers

For a large number of employers, the exceptional economic pressure placed on them during 2020 has only heightened the annual challenge of managing costs relating to their company’s benefit programs. Although various vaccines and treatments are on the near-term horizon, the long-term impacts of the COVID-19 pandemic remain largely unknown. Virtually everyone expects health care premiums to increase in the months ahead, but the severity of increase is less known. Of course, even if health care premiums remained relatively flat, employers may still not be able to comfortably fit them in their budget with revenues mostly down over the past several months. 

With so many uncertainties, many business owners are struggling to come up with a way to prepare for the coming year. From our perspective, the following three strategies can prove pivotal for employers when developing effective, long term strategies in the current climate:

1.       Incorporate a painstakingly thorough approach to employee benefits
2.       Take advantage of any available digital healthcare technologies
3.       Incorporate new and creative strategies will be best able to manage the predicted volatile trends in health care costs and their impact on insurance premiums.

The Huntingdon County Chamber of Commerce offers its members access to My Benefit Advisor as a solution for employee benefits, including voluntary offerings. For more information about My Benefit Advisor, visit our website at hccc.mybenefitadvisor.com or contact Mycal Jones at (800) 377-3539.
Annual Adjustments to OSHA Penalties Effective Jan. 15

Did You Know?

On Jan. 15, 2021, OSHA's civil penalty amounts for workplace safety and health violations will increase based on cost-of-living adjustments for 2021. Read the Federal Register notice and visit the OSHA Penalties webpage for more information.
U.S. Chamber COVID-19 Vaccines FAQ

As you know, the U.S. Food and Drug Administration (FDA) recently granted emergency use authorization for COVID-19 vaccines developed by Pfizer and Moderna. As states begin to prioritize, allocate, and distribute the first doses, the U.S. Chamber has created a new COVID-19 Vaccines FAQ one-pager to answer the common questions being asked by Americans—and especially business leaders.

Click here to view the one-pager with accurate and current information about the vaccine allocation process, expected timelines, and what it all means for the road to recovery. The U.S. Chamber will continue to update this resource as new information becomes available.

Please click here for an outline on prioritization on groups to receive the vaccine in PA.
Reminders
2021 Relief Funds Explained

While information is continuing to be release, I will share with you what we know at this point.

Paycheck Protection Program Funds 2.0
A second round of Paycheck Protection Program Funds is now available to businesses that received a first round. Businesses with 300 or fewer employees, including sole proprietors, independent contractors and self-employed, that have used or will use their first PPP (don’t need to have applied for forgiveness yet) AND can show a 25% gross revenue decline in any 2020 quarter compared with the same quarter in 2019. Businesses must have been in operation on or before February 15, 2020.

We are being told that the SBA has not released everything to the banks yet so they can start to administer the funds. Regulations specify that at least 60% must be used for payroll expenses. Applicants can choose a coverage period up to 24 weeks. The other 40% of the forgivable portion of the loan can be used for additional expenses this round. Expenses: Utilities (gas, electricity, water, telephone, internet), Rent (real and personal property), Mortgage Interest, Operations expenditures, Property damage costs, Supplier costs, and Worker protection expenditures.

Organizations like the Chamber, which are 501(c)6 non-profit organizations, qualify for this new round of funding. If you did not already receive a PPP loan, you can receive an initial loan under the new guidelines.

PPP 2.0 – Forgivable Payroll Expenses
➢ Employees’ cash compensation (only employees whose principal place of residence is the United States) in the form of salary, wages, commissions, or similar compensation; cash tips or the equivalent (based on employer records of past tips or, in the absence of such records, a reasonable, good-faith employer estimate of such tips);
➢ payment for vacation, parental, family, medical, or sick leave;
➢ allowance for separation or dismissal;
➢ payment for the provision of employee benefits consisting of group health care coverage, including insurance premiums, and retirement; and
➢ payment of state and local taxes assessed on compensation of employees.

PPP 2.0 - Forgivable Non-Payroll Expenses (Expanded!)
➢ Worker protection expenditures (PPE) covers worker protection and facility modification expenditures, including personal protective equipment, sanitizer, plexiglass, and other expenses incurred to comply with COVID-19 health and safety guidelines.
➢ Property damage costs due to public disturbances that occurred during 2020 that are not covered by insurance.
➢ Supplier costs pursuant to a contract, purchase order, or order for goods in effect prior to taking out the loan that are essential to the recipient’s operations at the time at which the expenditure was made. Supplier costs of perishable goods can be made before or during the life of the loan.
➢ Operations expenditures for software, cloud computing, and other human resources and accounting needs.
The application deadline March 31, 2021 (or until $284 billion funding runs out).

Tax Deductibility: It has been determined that business that receive the PPP or EIDL (Economic Injury Disaster Loan) can deduct business expenses, that they are normally able to deduct, that are paid with these loans. This is a change to what was previously in place.

PPP Forgiveness of EIDL Grant: The recovery legislation repealed the requirement that an EIDL emergency grant (advance) be deducted from the PPP forgiveness amount. The SBA Administrator is required within 15 days of when this legislation is enacted (12/27/20) to “ensure equal treatment” for borrowers whose loans have already been forgiven and who had their grants subtracted from the forgiven amount.

Forgiveness Application: A new one-page forgiveness application for loans of $150,000 or less is to be released by the SBA.

Changes to the Employee Retention Tax Credit Program
The Employee Retention Tax Credit has been extended to July 1, 2021 and Increases the fully refundable portion of qualified wages from 50% to 70%. Employers may now take a tax credit of up to $14,000 per employee, $7,000 for each of the first two quarters of 2021. Employers able to take the Employee Retention Tax Credit and participate in the PPP, but cannot use them for the exact same expenses.

Economic Injury Disaster Loan Advance Change:
(Important if you have fewer than 10 employees)
A change to the Economic Injury Disaster Loan Advance now allows those that received less than $10,000 and that are in low-income communities to receive the full $10,000. It looks like much of Huntingdon County qualifies. Here is the best mapping tool that I found. https://connect.bakertilly.com/nmtc-lihtc-mapping-tool I have not been able to find the process to apply for this additional amount, but will let you know when it is made available.

Optional FFCRA Leave Tax Credits Extended to 3/31/21
➢ Families First Coronavirus Response Act (FFCRA), effective 4/1/20, required employers with fewer than 500 employees to provide paid sick and family leave to employees for COVID-19 related reasons. FFCRA provides private employers with a refundable dollar-for-dollar payroll tax credit for the mandated leave. The tax credits and mandated leave requirements were originally set to expire on 12/31/20.
➢ Mandated FFCRA Leave Expired 12/31 - The recovery legislation does not extend the FFCRA’s requirement that covered employers must provide leave benefits. So as of 12/31/20, FFCRA-covered employers may dispense of the FFCRA leave scheme entirely.
➢ Voluntary FFCRA Participation Allows Tax Credits Until 3/31/21 - FFCRA-covered employers that elect to extend FFCRA-like benefits voluntarily may continue to reap the tax benefits associated with the program through 3/31/21. Self-employed individuals may use their average daily self-employment income from 2019, rather than 2020, for purposes of computing these credits. What other aid is available for small businesses?

Additional information:
➢ Pandemic unemployment benefits for the self-employed and independent contractors is extended.
➢ Payment relief for eligible SBA loans will be extended. That means the SBA will cover the payment on eligible SBA loans—including interest, for up to a total of $9000 per payment—for the next 3-8 months, depending on the borrower’s industry code and the type of loan.
➢ Live venues, independent movie theaters, and cultural institutions may be eligible for $15 billion in dedicated grants. (Note that these organizations will have to choose between these grants and the new PPP loans – they can’t get both.)
➢ Landlords may benefit from the rental assistance program.
➢ Childcare businesses may be eligible for part of the $10 billion allocated.

Click here to watch a recording of the NFIB webinar about the changes mentioned above
.
Click here to watch a recording of the U.S. Chamber webinar on PPP Loans and Employee Retention Tax Credits. The slides can be found here.

Click here to view the U.S. Chamber's new Guide to Small Business COVID-19 Emergency Loans with the latest information and answers to FAQs about the changes that have been made to the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loans (EIDL) Program as part of the end-of-year pandemic relief package Congress has passed.

Click here for the recording of the “COVID-19 Relief Bill: What PA Businesses Need to Know About the Latest Round of PPP” webinar hosted by the PA Chamber.
We Need Your Help

As we mentioned previously, Governor Wolf vetoed H.B. 1737 which included comprehensive, temporary, pandemic-related liability protections legislation. Again, we thank Representative Irvin, Senator Ward and Senator Corman for their votes to pass this legislation.

The Chamber community is not ready to give up on our push to have pandemic related liability protections for businesses that are following the guidelines. To continue this effort the Pennsylvania Chamber of Business and Industry is compiling a collection of short videos (30ish seconds) of employers explaining their support for legislation to provide temporary liability protections for those working in good faith to comply with public health guidelines, why they’re concerned, etc.
 
We have been asked to recruit one of your business members to participate. Your video (mp4 taken horizontally is preferred but we can work with anything) can either be emailed to me or we can schedule a quick zoom call. Please let me know ASAP if you are willing to be the business representing Huntingdon County.
Policy Guidelines, Updates, and Events from the U.S. Chamber

U.S. Chamber experts have been busy convening groups from across the country to discuss what's happening now for American business and to keep you updated on what's coming next. See below for policy guides and event recaps:

Hometown Heroes Banner Applications Being Accepted

The Huntingdon County Chamber of Commerce and Huntingdon Borough are proud to present the Hometown Heroes Banner Program. This program is a tribute to soldiers from the Huntingdon Borough area who served or are serving our Country in a branch of the military. 

Each banner will honor a specific individual. They will be 30 x 60 all-weather banners. They will include his/her photo, branch of service and era of service. Banners will be displayed on poles throughout Huntingdon Borough. 

This program is non-political and non-artisan. These banners will serve as a reminder of those individuals who have proudly served our Country. The banner cost will be $150. Banners will be hung before Memorial Day 2021 and remain up until Veteran's Day 2021. 

Applications are being accepted between November 1 and March 20. Applications will not be accepted after March 20. 

Please click here for the application.   
Help us help you!
Click here to take our educational needs survey.
New Coronavirus Guidance and Citations
New guidance provides compliance assistance for frequently cited standards related to COVID-19 inspections. Click here to read the news release.

Holiday Workplace Safety
As the holiday shopping season approaches, train workers on job hazards and establish safe work practices to prevent exposure to the coronavirus.Click here to read more.
Partners In Excellence
 
Platinum
Fulton County Medical Center

Gold
Stern Insurance Agency
 
Silver
Community State Bank
Mutual Benefit Group
 
Bronze
Bumgardner & Flasher Oil, Inc.
Orbisonia Hardware, Inc. 
 
Royal
BottomLine Pros LLC
FirstEnergy Corporation
Helpmates, Inc.
Jeff Tate Paving, Inc.
Juniata College
Keller Engineers
Lincoln Caverns, Inc. and Whisper Rocks
McDonald's
MDB Drafting & Design
Stiffler, McGraw and Associates, Inc. 


Interested in learning about becoming a Partner in Excellence?

Contact Yvonne at  ymartin@huntingdonchamber.com  or 814.643.1110

Packages range from $125 to $1,000.
Chamber Events
Business After Hours
SPE Federal Credit Union
March 17, 2021
5:00 - 7:00 p.m.

Spring Jam
Huntingdon Country Club
April 11, 2021
5:00 - 8:00 p.m.

Administrative Professionals Luncheon
Huntingdon Country Club
April 21, 2021
12:00 - 1:00 p.m.

Highway to Rock!
Beside Lincoln Caverns
May 22, 2021
4:00 - 9:00 p.m.

Business After Hours
Huntingdon Rotary &
Huntingdon County Foundation
Gage Mansion Bed & Breakfast
May 26, 2021
5:00 - 7:00 p.m.
Annual Golf Tournament
Huntingdon Country Club
June 16, 2021
11:30 a.m. Registration
1:00 p.m. Shotgun Start

Business After Hours
Lincoln Caverns
June 24, 2021
5:00 - 7:00 p.m.

Family Fest & Car Cruise
Huntingdon Presbyterian Church
July 3, 2021
6:00 p.m. Car Cruise
6:30 - 8:30 p.m. Family Fest

Sporting Clay Tournament
Shenecoy Sportsmen Club
September 15, 2021
September 22, 2021 Rain Date
2:15 p.m. Registration
3:00 p.m. Shoot

Annual Awards Gala
Huntingdon Country Club
October 7, 2021
5:30 p.m. Reception
6:00 p.m. Dinner

U.S. Chamber of Commerce Foundation Wellbeing in the Workplace: A Practical Guide for Employers

Just recently, the coalition released its Practical Guide for Employers—a toolkit providing actionable steps to help businesses of all sizes take measures to prioritize mental health and emotional wellbeing in the workplace. Click here to view the toolkit.


Free Re-opening Signage

As Pennsylvania businesses begin to reopen, each business owner will need to examine their operations and make changes to meet public safety guidelines. PASBDC has created signage to address common health concerns. All images are completely free to use, so please share, download, print and distribute as you wish!

Click here for access to timely resources.
Office Hours

Following the Governor's guidance, staff is once again working remotely and only going to the office as necessary. If you need to reach us, please call 814-643-1110 and leave a message for us or email ymartin@huntingdinchamber.com or mhuntsman@huntingdonchamber.com
Huntingdon County Strong:
Business and Community Resources

Click graphic below.
Quick Connect Coaching Sessions
Weekly, Tuesdays at 8:30 am

Looking for a quick answer to a question related to disaster recovery, reopening, stabilizing, or projecting for growth? Then attend a "Quick Connect" session to get your questions answered. Each week a consultant will address answers related to a specific topic.

Contact Us

Yvonne Martin
President/ CEO


MacKenzie Huntsman
Program Director



Phone: 814-643-1110
Fax: 814-643-1115
    
Stay Connected

Looking to start an endowment or to support community efforts? Click the logo above to learn more about the Huntingdon County Foundation.