·During the Monday, June 8 press conference, Governor Andrew Cuomo announced the deadline for small businesses to file a property tax abatement is being extended by 90 days. ·A new Executive Order has been signed that allows places of worship to reopen in Phase 2 at a 25% capacity basis, with social distancing precautions in place. Guidance on how to clean and disinfect houses of worship can be found HERE. The Executive Order can be found HERE. ·The Executive Order also permits commercial building owners, retail store owners, and those authorized on their behalf to manage public places within their […]

WASHINGTON –SBA Administrator Jovita Carranza and U.S. Treasury Secretary Steven T. Mnuchin issued the following statement today following the enactment of the Paycheck Protection Program (PPP) Flexibility Act: “We want to thank President Trump for his leadership and commend Leader McConnell, Leader Schumer, Speaker Pelosi, and Leader McCarthy for working on a bipartisan basis to pass this legislation for small businesses participating in the Paycheck Protection Program. “We also want to express our gratitude to Chairman Rubio, Ranking Member Cardin, Senator Collins, Congressman Roy, Congressman Phillips, and other members of Congress who have helped to create and guide our implementation of this critical program that has provided over 4.5 million small business loans totaling more than $500 billion to ensure […]

 The Paycheck Protection Flexibly Act of 2020 provides adjustments to the original loan program, and extends the timeframe for PPP loan recipients to spend the money and qualify for forgiveness. The full piece of legislation can be found HERE. The highlights of the bill are: ·     An extension of the 8-week “covered period” to calculate loan forgiveness to 24 weeks or the end of the year, whichever comes first, for new PPP loans. ·     Current PPP borrowers can elect to extend the 8-week “covered period” to 24 weeks or the end of the year. ·     The deadline to restore employment/wage levels […]