As the country begins the process of re-opening and returning to work we wanted to provide an update on state and local programs that support small businesses and the Paycheck Protection Program (PPP).
State and Local Support for Small Businesses
Due to its extreme popularity the Paycheck Protection Program has again distributed almost the entirety of its funds. This has led the Small Business Administration (SBA) to drastically reduce the number of PPP applications they are currently accepting.
With the PPP and other federal programs now slowing down we wanted to provide our members with resources from their state and local governments. As local governments begin to re-convene, we have seen an increase in programs established to assist small businesses during the fallout of the COVID-19 pandemic.
Click here to view a list of various programs that are being offered in each state. We are also encouraging our members to check with their county and state economic development departments if they are in need of assistance.
We are expecting these programs to be in high demand so if you’re hoping to utilize one of them, we urge you to begin the process as soon as possible.
Paycheck Protection Program Update
While additional PPP funding has not been approved by Congress, the Treasury Department and SBA has adopted a policy that all businesses who borrowed less than $2 million are automatically considered to have made the certification in good faith and will not be subject additional scrutiny.
The deadline to return PPP funding with no penalty or interest has also been extended to May 18th.
We at NGWA would again like to thank our members for their service during this time. We are here for you and we are Better Together.
NGWA will continue to keep you informed and encourages you to visit the NGWA COVID-19 Information page on our website.
Want to connect with other groundwater professionals in real time? We have a Facebook Group called “COVID-19 Discussion Group” that has all our latest news and updates about the coronavirus. The group also provides a space for contractors, drillers, owners, and other professionals to seek advice on social distancing practices or how to better serve clients during this time. Click here to join the Facebook Group.