Small businesses and not-for-profits in Putnam are now eligible to receive low-interest federal disaster loans for working capital if they have suffered substantial economic injury as a result of the Coronavirus (COVID-19). Because small businesses and not-for-profits are critical to our local economy and community services, we wanted to share this important information with our members. This first wave of assistance from the federal government is essential to provide some stability to our businesses and not-for-profits struggling with cash flow. The PCBC is grateful to the SBA for including us in the declaration. Access to EIDL funds will help businesses cover basic essentials, such as payroll and fixed costs, in the short term, and will bring much needed certainty and stability at a time when it’s needed most.
Putnam became eligible (along with Westchester and Dutchess Counties) because we are adjacent to Connecticut, which made an Emergency Declaration allowing us to apply for the funds.
Eligibility for Economic Injury Disaster Loans is based on the financial impact of the Coronavirus (COVID-19). The interest rate is 3.75 percent for small businesses. The interest rate for private non-profit organizations is 2.75 percent. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years and are available to entities without the financial ability to offset the adverse impact without hardship.
Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline to apply for an Economic Injury Disaster Loan is Dec. 16, 2020.
Because of the high volume of interest, we caution everyone to remain patient as the SBA is still working to get up to speed. With that in mind you can begin gathering information to start the process. We will share more information on this, as it becomes available.
Click here for more info on COVID-19 business preparedness and disaster loans
For more information about the Coronavirus, please visit http://www.Coronavirus.gov.
The Putnam County Business Council (PCBC), the county’s largest business advocacy group, announced today the appointment of three new board members who will help steer the organization and strengthen its leadership and support of local businesses.
The PCBC also unveils a new look and improved form and function with a redesigned logo and website to better serve the business community as an engaged up-to-date resource.
New Board Members
Michael Bucci is a financial planner with Ameriprise Financial Services. He also served as CEO of the Mahopac-Carmel Chamber of Commerce from 2013 to 2016. Mike and his family have been mainstays in the business community for decades and his father and brothers continue to operate Bucci’s Deli in Mahopac.
Nick D’Andrea is the assistant general manager at Park Ford of Mahopac.
“As a new board member of the Putnam County Business Council, I intend to grow our business member base and reinforce the importance of mutual support among our local businesses.”
John Kraus is a senior vice president of Tompkins Mahopac Bank. John was, until recently, the senior commercial loan officer of Tompkins Mahopac Bank before being appointed program administrator of Commercial Lender Development for all four Tompkins affiliate banks, and executive director of the bank’s Business Development Board.
“As a commercial banker active in Putnam County for the past 29 years, I have significant experience working with business owners across many industries. My purpose is to share and apply my knowledge and understanding of key issues critical to the local business community to promote economic development and business advocacy in Putnam County.”
Putnam County Business Council Gets a Makeover
“In addition to bringing new talent to our board, we have been evolving the image and brand of the PCBC for some time now,” said Jennifer Maher, chairwoman, PCBC. “Last year, we changed our name from Putnam County Chamber of Commerce to the Putnam County Business Council as a way to better define our role as a resource and advocate for county-based businesses. Now, we have completed our rebranding with a new logo and website that more aptly represents the spirit of our mission.”
The new website may be accessed at putnamcountybusinesscouncil.com. Local businesses are encouraged to visit the site for updates on policy, legislation, advocacy, resources, and networking events. The site currently features a COVID-19 Business Prep article, including links to disaster relief options through the SBA.
