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Business

COVID-19 Business Update 2021


The Southbury Office of Economic Development has put together a resource information page for local businesses to better understand the available assistance programs on the Town, State, and Federal level.

LOCAL BUSINESS HOTLINE: Call (203) 262-0683 or e-mail: EcoDevDirector@southbury-ct.gov to reach Economic Development Director, Kevin Bielmeier for questions or assistance.


Southbury COVID-19 Business Updates

View all the previous business updates.


Guide to the ERTC

The Employee Retention Tax Credit (ERTC) is designed to incentivize businesses to keep employees on their payroll during the COVID-19 pandemic. Read this GUIDE to see if your company is eligible, how you can get it and types of employees who can receive it.

SBA and Treasury Announce PPP Re-Opening; Issue New Guidance

The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced today that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers.

Read the SBA press release.

CT Business Recovery Grant

Summary:

  • $35 million in grants focused on 2,000 of Connecticut’s hardest hit businesses including restaurants and hospitality.
  • Grant sizes will range from $10,000 to $30,000.
  • No application process – Businesses which meet criteria will be sent a check directly from the Department of Revenue Services (DRS) in early January 2021.

For more information go to https://portal.ct.gov.

Small Business Update: PPP loans and Employee Retention Tax Credit

"So now, if you took out a PPP loan in 2020, you can take advantage of the ERTC in 2021 and may be able to apply part of it looking backward for 2020." — Neil Bradley, executive vice president and chief policy officer, U.S. Chamber of Commerce, updates business owners on details of the new stimulus bill.

Watch the recording & read key takeaways here: https://www.uschamber.com.


For the list of COVID-19 related information we posted in 2020 go to COVID-19 Business Update 2020 page.