REGISTER for the 1st Putnam Countywide Virtual Networking Event on May 21 at 5PM
In addition to keeping you informed, we know how important it is to connect with colleagues, associates, and business prospects. So, we’re kicking isolation to the curb and hosting a virtual networking reception!
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As we begin to re-open, it’s time to start engaging with fellow business professionals, exchange ideas, and promote your brand without leaving the comfort of your home or office.
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Join the Putnam County Business Council, Brewster, Mahopac/Carmel, Kent, and Cold Spring Chambers of Commerce, as well as the Putnam Valley Business Network, and future members to meet and connect at this virtual networking extravaganza!
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REGISTRATION IS REQUIRED — Register BELOW before we reach capacity!
We are looking for guest speakers for the PCBC “Leadership Webinar Series”
We kicked off our Leadership Webinar Series last week in response to the business community’s questions and interests pertaining to reopening Putnam and getting back to business. We would like to feature local business leaders in the coming weeks who have solid advice, educational wisdom or an inspirational message to share with our members and your business colleagues.
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If you’re interested in being a guest, please email info@putnamcountybusinesscouncil.com and submit the following information.
- Name, title
- Business
- Location
- Topic
- Contact information
SBA Updates
The SBA have released the following updates as we wait for guidance on the Paycheck Protection Program loan forgiveness to be issued. p
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- An updated FAQ has been released today addressing how SBA will evaluate the good faith certification regarding the necessity of the PPP loan request. CLICK HERE to see the updated FAQ’s
- The safe harbor deadline for businesses to return PPP funds if they determine that they were ineligible has been extended until tomorrow, 5/14, pending publication of the procedures for returning the funds. If the guidance for loan forgiveness is not ready by then, there could be another extension of the deadline. SBA has been receiving a lot of questions from PPP borrowers about the “economic uncertainty” certification and any constituent questions should be directed to an SBA regional office.
- There are no updates to the 8-week forgiveness period, and we can’t speculate on any legislative or regulatory changes to this. Businesses should plan based on the rules as they are now.
- The first PPP Interim Final Rule requires that 75% of the use of proceeds be used for payroll costs. This is distinct from the rule that 75% of the forgivable expenses must be payroll. ** See page 4 of the Interim-Final-Rule-Additional-Eligibility-Criteria-and-Requirements-for-Certain-Pledges-of-Loans document.
- On May 5th, Senator Gillibrand sent, along with a bi-partisan group of her Senate colleagues, a letter to the Secretary of the Treasury and the SBA Administrator requesting that at least 50% of PPP loan proceeds be allowed for non-payroll expenses. (See attached.)
- The EIDL Advance has no reporting requirements and does not have to be repaid. It is designed to provide immediate economic relief. This is independent from the EIDL Loan and not part of the Loan’s terms and conditions. Any Advance funds will be deducted from PPP forgiveness, however.
- The EIDL Loan funds may only be used for working capital expenses. Business expansion or acquiring fixed assets are not eligible uses of proceeds.
Updated PPP and EIDL Advance numbers:
In Round Two of the Paycheck Protection Program (April 27 – May 8, 2020), the SBA has guaranteed 2,571,167 loans. For more information on Round Two loan activity, CLICK HERE
COVID-19 Update
NEW
Business Supply Page Launched
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As New York State begins to reopen its economy and businesses start to open their doors, some employers will be in need of PPE and other safety products to meet state requirements. We have launched a web page to connect our members with businesses selling safety and sanitary products.
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If you are a seller of safety or sanitary equipment and you’d like to be listed on this page, please contact Patrick Bailey.
Ita M. Rahilly joins Tompkins Financial Corporation Board of Directors
Tompkins Financial Corporation is pleased to welcome Hudson Valley resident Ita M. Rahilly to the Tompkins Financial Corporation Board of Directors. Ms. Rahilly was officially elected at the Annual Meeting of Shareholders held on Tuesday, May 5, 2020. Ms. Rahilly will continue as a director of Tompkins Financial’s affiliate, Tompkins Mahopac Bank, where she has served since 2018.
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CLICK HERE for the full announcement
