The State of Connecticut is continuing to take major steps to protect our businesses and residents during the coronavirus crisis. Here are some updates:
•DECD's COVID-19 Business Emergency Response Unit: The Connecticut Department of Economic and Community Development (DECD) has created a COVID-19 Business Emergency Response Unit dedicated to assisting businesses navigate resources and develop new resources. A dedicated phone line is available at 860-500-2333 to provide assistance to Connecticut's small businesses for this purpose. •Connecticut Recovery Bridge Loan Program: To provide emergency cash flow relief to Connecticut small businesses and nonprofits that have been negatively impacted by the global spread of the COVID-19 pandemic, Governor Lamont created the Connecticut Recovery Bridge Loan Program. Administered by DECD, the program is for businesses and nonprofits that have fewer than 100 employees. Qualifying organizations can apply for zero-interest loans of up to $75,000 or three months of operating expenses (whichever is lesser). This $25 million short-term emergency loan program will be allocated on a first-come, first-served basis. The program is now accepting applications. •SBA assistance: On March 16, the U.S. Small Business Administration approved Governor Lamont's request to begin offering disaster-relief loans to Connecticut small businesses and nonprofits. Companies in the state can now apply for loans of up to $2 million through a special page on the SBA website. SBA also has more valuable information for businesses. •Tax filing extensions: The Department of Revenue Services has extended deadlines for filing and payments associated with certain state business tax returns. Details are on DRS’s website. •Unemployment assistance: Workers directly impacted by the coronavirus pandemic no longer must be actively searching for work to qualify for unemployment assistance. And employers who are furloughing workers can use the Department of Labor’s shared work program, which allows businesses to reduce working hours and have those wages supplemented with unemployment insurance. DOL has more information about these and other changes. •Business Interruption Insurance: A business interruption insurance policy should list or describe the types of events it covers. Events that are not described in the policy are typically not covered. It is important to review the policy exclusions, coverage limits, and applicable deductibles with your agent, broker or insurer. The Connecticut Insurance Department has an FAQ that provides more information. •Issues regarding supply chains, delivery of goods, or business continuity: The Connecticut Department of Consumer Protection is encouraging businesses in the state that are experiencing issues regarding supply chains, delivery of goods, or business continuity to contact the FEMA National Business Emergency Operations Center by emailing NBEOC@fema.dhs.gov. This is a 24/7 operation and they can assist in directing the inquiry to the proper contact. •Reimbursement of medical leave costs for small and medium-sized businesses: The Connecticut Department of Insurance reminds small and medium-sized employers of recent guidance from the Internal Revenue Service (IRS) on COVID-19 - related medical leave.