Our 2020 Annual Raffle Dinner Event happened on Tuesday, March 3rd.
The room was filled with excitement with more than 190 guests gathered for the dinner and raffle. The evening started with cocktail hour sponsored by Members Plus Credit Union followed by a dinner and our program. Spinelli’s outdid themselves with a fabulous 5 course dinner. We had lots of prizes with the help and generosity of our business members and we thank them for all they do to support the chamber.
Thank you to Members Plus Credit Union, Exelon Generation, Cataldo Ambulance, National Grid, Costco, Eagle Bank, Elm Street Bakery, Everett Bank, GTA Co/. Inc., Law Office of Joseph Cataldo, Law Office of Paul A. Delory, McDonald’s/The Brewster Co., Messinger Insurance, Vincent Panzini, Ray Lepore, Schnitzer Steel Industries, Silverstein & O’Neil, Sky Zone, Texas Roadhouse Everett, The Square Deli, Walgreens Everett.
Also thanks to our raffle committee and volunteers that helped make this possible: Marge White, Colin Kelly, Vin Panzini, Cheryl Smith, Rosemary Hughes, Maria Sgambati, Carmela Vitale, Janis Caines, Taylor Kelly, Erica Barney and Samantha Romboli. Special thanks to our President, Colin Kelly for being the MC for the evening and Vin Panzini as the runner. Hope to see you all again next year!
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SMALL BUSINESS PAYCHECK PROTECTION PROGRAM
The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.
Fully Forgiven
Funds are provided in the form of loans that will be fully forgiven when used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.
Must Keep Employees on the Payroll—or Rehire Quickly
Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.
All Small Businesses Eligible
Small businesses with 500 or fewer employees—including nonprofits, veterans organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors— are eligible. Businesses with more than 500 employees are eligible in certain industries.
When to Apply
Starting April 3, 2020, small businesses and sole proprietorships can apply. Starting April 10, 2020, independent contractors and self-employed individuals can apply. We encourage you to apply as quickly as you can because there is a funding cap.
How to Apply
You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating. All loans will have the same terms regardless of lender or borrower. A list of participating lenders as well as additional information and full terms can be found at www.sba.gov.
The Paycheck Protection Program is implemented by the Small Business Administration with support from the Department of the Treasury. Lenders should also visit www.sba.gov or www.coronavirus.gov for more information.
CONTACT YOUR LOCAL SBA LENDER
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Watch your emails for upcoming events!
Health Connector for Business – TBD
Government Business Breakfast, Wednesday, May 6th, BNY Mellon, 7:30-9:00AM
Annual Golf Tournament – Wednesday, June 3rd, Gannon Golf Club Lynn