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COVID-19 UPDATE FOR LOCAL BUSINESSES (4-6-20)

April 6, 2020

Enhanced Unemployment Insurance Benefits

The UI program has been enhanced to provide more benefits and to cover more impacted workers and employees. See updated program information here:

https://www.bcnys.org/sites/default/files/2020-04/NYSDOLUIBenefitsGuidance.pdf

Payroll Protection Program (PPP)

The SBA’s Payroll Protection Program is up and running and accepting applications.  $349 billion is available to help small businesses retain and pay employees and cover some operating expenses in addition to payroll costs. These are forgivable loans.

Additional information including the PPP application form can be found below.  Please contact your business banking or credit union contacts to access this program.

Payroll Protection Program Overview

Payroll Protection Program Borrower Information

Payroll Protection Program Application Form

 

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