Governor Lamont just announced a new partnership with SoFi and Equifax to help expedite the approval of previously submitted Connecticut Recovery Bridge Loan Program applications. DECD received over 5,000 applications in less than 48 hours and doubled the amount of the program as a result.
We know these are uncertain times for Connecticut small businesses and non-profits and our goal is to get this money out of the door as soon as possible. The $50 million program will provide some cash flow relief to those negatively impacted by the coronavirus.
Additional Resources and Updates:
- The Governor has created the Reopen Connecticut Advisory Group to focus on restarting the State’s economy. Indra Nooyi, co-chair of AdvanceCT and former chairman and CEO of PepsiCo, and Albert Ko MD, professor of epidemiology and medicine at the Yale School of Public Health, are leading the group comprised of top health, labor and business experts.
- A new website, www.ctcovidresponse.org, has launched to connect Connecticut manufacturers and suppliers with health care institutions to produce the medical supplies and PPE our first responders need.
- The Department of Revenue Services (DRS) launched a one-on-one customer service program to help businesses and individual taxpayers understand what resources are available to them if they can’t meet their current collections obligations.
- AdvanceCT partnered with CBIA and DECD to release the second iteration of its business survey to gather feedback directly from Connecticut businesses that will help inform how we restart our economy.
- Finally, wanted to provide you with a quick update on the federal Payroll Protection Program (PPP). More than 18,000 loans totaling more than $4.1 billion were approved for Connecticut businesses. Governor Lamont and DECD continue to work with our federal delegation and advocate for additional funding for this program.
I encourage you to regularly check Governor Lamont’s YouTube page for detailed daily updates, as well as the state’s coronavirus website which is updated with useful information. You can also get the latest news on our Twitter, Facebook and LinkedInchannels.
David Lehman, Commissioner
email@example.com, (860) 500-2310