Fresh off the Business Conference call with the Governor and Head of the Department of Economic and Community Development
Here is what's up:
1. SBA Loans are the prime way to ease the impact on businesses. CT first state. - see www.westportwestonchamber.com/sba for info and links.
2. CT will be putting together low interest, short term, "bridge loans" to small businesses to help with short term expenses. The package is to be announced next week.
3. Business Taxes will be extended by the state. The extension could be into May, so 3 months extra time to pay.
4. The Governor is looking to the medical insurers to allow extensions of payments during this period. This will aid in meeting that fixed cost.
5. They will be relaxing rules for applying for and receiving unemployment benefits.
6. The Governor has secured that utilities will not shut off services for non payment until May 1.
7. Sick leave of 2 weeks is to be paid for by the Federal Government. Now currently to be a credit, he is looking for this to be covered in cash. This will aid in keeping the ill home and not coming to work as well.
8. While Westport has already closed salons and barbershops etc..., this will become a state mandate by the end of today. He has no immediate intention of full state shut down at this time.
9. Property taxes are not a state issue and it will up to each municipality.
10. He said CT was directly sourcing hospital equipment to aid in this.
11. They may relax rules to allow take home alcoholic beverages from restaurants to aid them further. I could use a Margarita.
The DECD has set up an Emergency Covid-19 team. To contact them with questions:
Phone 860-500-2333
Email covid19.jic@ct.gov
Take their Survey - Help them understand your needs as business people. click here
Overall the Governor said he was pleased with the response from our businesses. He said that CT was ahead of the curve compared to our fellow states. He was encouraged by what has happened lately in China, but we could still be looking at a 3-9 month horizon to full recovery, economically. He also warned of a second wave at some point and we need to continue to be vigilant. He spoke of the need to convince the "invincibles" the Millennials, (which actually are the Gen Zs as the youngest Millenial is 23 and those on spring break are 21) to have them understand the need to be socially distant. The answer relies of decreasing the spread of the disease to allow our hospital infrastructure to survive what is coming.
There will be future calls and more information will be forthcoming.
W