ACCD: PUA town hall Thursday, SBA financing town hall Friday

SBA Updates from Employer Financial and Technical Support Action Team

On Friday, April 24th at 2pm, Department of Economic Development Commissioner Joan Goldstein will host a virtual town hall to discuss the latest updates on the financial assistance programs available from the U.S. Small Business Administration (SBA). A portion of the event will include a Q&A with Darcy Carter, Director of the SBA Vermont District Office, as well as Thom Lauzon and other members of the Employer Financial and Technical Support Action Team.

SBA Issues Compliance Requirements for the Paycheck Protection Program

The Small Business Administration issued guidance for companies to follow to ensure compliance with the Payroll Protection Program (PPP) and maximize the amount of loan forgiveness. If you have been approved by your lender for a PPP loan or plan to apply when the program reopens, it is very important to review this guidance.

Department of Labor to Accept Unemployment Claims from Self-Employed and Others

The Department of Labor has announced that the Pandemic Unemployment Assistance (PUA) program (part of the federal CARES Act) is now available to accept unemployment claims from those not eligible for the regular Unemployment Insurance program (self-employed, sole proprietors, independent contractors). More information on the PUA application process and eligibility can be found at https://labor.vermont.gov/pua.

On Thursday, April 23rd at 2pm the Department of Labor will hold a virtual town hall with an update on the application process and implementation of PUA. Previous events may be viewed at the Department’s YouTube channel.

Relief for Students with Private Loans

Governor Scott and Department of Financial Regulation Commissioner Michael Pieciak announced a multi-state initiative to secure student loan relief options for thousands of Vermonters with privately held student loans. Under this initiative, many Vermonters with commercially owned Federal Family Education Loan Program loans or privately held student loans who are struggling to make their payments due to the COVID-19 pandemic will be eligible for expanded relief. Borrowers in need of assistance, including VSAC borrowers, must immediately contact their student loan servicer or lender to identify the options appropriate to their circumstances.

Vermont Emergency Management Offers Mask Buying Resource

The Department of Emergency Management has compiled a list of businesses where face masks can be purchased by the general public. Businesses offering masks for sale can be added to this list by contacting Vermont Emergency Management at [email protected].

Business Impact

ACCD wants to hear from all Vermont businesses impacted by the response to the COVID-19 virus. Please share these impacts via the ACCD Business Impact Form, which will help us assess the full impact as we work toward solutions.