Paycheck Protection Program
The CAA bill authorized new rounds and additional funding for the Paycheck Protection Program (PPP), which opens starting this week for new borrowers and certain existing PPP borrowers. Loans under $150,000 will be forgiven via a simple one-page form. Key PPP updates include:
PPP borrowers can set their PPP loan’s covered period to be any length between 8 and 24 weeks to best meet their business needs;
PPP loans will cover additional expenses, including operations expenditures, property damage costs, supplier costs, and worker protection expenditures;
The Program’s eligibility is expanded to include 501(c)(6)s, housing cooperatives, direct marketing organizations, among other types of organizations;
PPP to Reopen January 11th
The U.S. Small Business Administration, in consultation with the Treasury Department, announced today that the Paycheck Protection Program will re-open the week of January 11th for new borrowers and certain existing PPP borrowers. This round of the PPP continues to prioritize millions of Americans employed by small businesses by authorizing up to $284 billion toward job retention and certain other expenses through March 31, 2021.
PPP/FFCRA Informational Webinar
Earlier this week ACCD hosted a webinar for Vermont businesses regarding updates to the Paycheck Protection Program (PPP) and the Families First Coronavirus Response Act (FFCRA). You can now view a recording of the webinar, which included ACCD leadership, the Vermont Department of Labor, the Vermont Bankers Association, and the Small Business Administration (SBA) Vermont District Office talking about updates to the program.
Fri, 01/08/2021 - 1:27pm tim
by Timothy McQuiston, Vermont Business Magazine Weekly unemployment claims last week increased to their second-highest level since the early weeks of the pandemic after three weeks of declining numbers. The holiday season typically results in several swings in the data. Claims increased by 703 to 1,800 last week (and up 1,120 from the same time last year, which was before the pandemic hit).
As for the week s ongoing jobless claims, for the week ending January 2, 2021, the Labor Department processed 13,994 claims, up 2,809 from the previous week and 7,879 more than the same time last year.
As for further comparison, initial Vermont claims for the week of March 21, 2020 (the first full week of the pandemic in Vermont), were 3,784, up 3,125 from the week of March 14.
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This file photo combo shows Vermont incumbent Republican Gov. Phil Scott, left, and Democrat Lt. Gov. David Zuckerman, candidates for Vermont governor in the Nov. 3, 2020, general election.
AP file photo
VERMONT JOINT FISCAL OFFICE
Molly Gray, a Democratic candidate for Lieutenant Governor, holds a rally at the Common in Brattleboro on Friday, July 24. Gray was elected to the post and will become the fourth woman in state history to hold the office.
KRISTOPHER RADDER â BRATTLEBORO REFORMER
Balint
KRISTOPHER RADDER â BRATTLEBORO REFORMER
Gov. Phil Scott was reelected to a third two-year term in 2020 after guiding Vermont through the COVID-19 pandemic.
Wed, 12/30/2020 - 12:01pm tim
Vermont Business Magazine On Sunday night, the President signed COVID-19 economic relief legislation which included provisions to extend the unemployment insurance (UI) programs created under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The Pandemic Unemployment Assistance (PUA) and Pandemic Emergency Unemployment Compensation (PEUC) programs have been extended, and the Federal Pandemic Unemployment Compensation (FPUC) program has been reinstated, providing an additional $300 weekly benefit until March 14, 2021.
As previously announced and separate from the federal action, Vermont s minimum wage rate will increase to $11.75 per hour from the current rate of $10.96 per hour, effective on January 1, 2021. The federal minimum wage is $7.25 per hour (as it has been since 2009). New Hampshire is the only New England state using the federal minimum wage.