The COVID-19 Relief Bill: What PA Businesses Need to Know About the Latest Round of PPP

The recently approved COVID-19 relief and stimulus package includes $284 billion in forgivable, federally backed loans for hard-hit small businesses, non-profits, and live venues across the nation – including those in Pennsylvania.

The PA Chamber invites businesses statewide to hear directly from U.S. Small Business Administration Administrator Jovita Carranza and U.S. Chamber of Commerce Executive Vice President and Chief Policy Officer Neil Bradley as they share key insights into the latest round of Paycheck Protection Program (PPP) loans, including important changes to PPP guidelines, eligibility, forgiveness and more.  

Webinar Highlights

  • SBA Administrator Jovita Carranza and U.S. Chamber EVP and Chief Policy Officer Neil Bradley provide key guidance for businesses on the latest round of PPP loans, including eligibility, forgiveness, and the application process
  • Businesses have an opportunity to engage in Q&A with the guest speakers and PA Chamber President and CEO Gene Barr

This one-hour webinar will be held on Thursday, January 7th from 11 a.m.- noon and is FREE and open to Pennsylvania’s business community at large – including PA Chamber members and non-members – as part of the PA Chamber’s Bringing PA Back initiative.

Relevant to this webinar, on December 30th,  McKonly & Asbury Partners, David Blain and Mark Heath discussed the COVID and tax-related sections, including: stimulus checks, Paycheck Protection Program (PPP) loans, expansion of the Employee Retention Credit, during their webinar-Latest COVID Relief Bill and What’s in it for Business.  The webinar is available here

Member News- December 30, 2020

State Grant Awarded for Construction of HUB at Mills in Bloomsburg

Community Strategies Group (CSG) was awarded a $1,000,000 grant through the Redevelopment Assistance Capital Program (RACP) to assist in the construction of the HUB at Mills, according to Senator John R. Gordner (R-27) and Representative David R. Millard (R-109).

The funds will be used to help construct commercial office space for agencies providing services to neighboring Mulberry Mills Apartments for low-income seniors. This will ultimately include a community park, featuring Bloomsburg’s first dog park, exercise stations for senior citizens and more. The Columbia Montour Chamber of Commerce is also planning on relocating its offices in the building.

“This is a great project that will be an asset to many citizens of downtown Bloomsburg,” said Senator Gordner. “I want to congratulate CSG for its excellent vision and a successful application.”

“This will be a fantastic addition to our town and residents of all ages will benefit from it,” added Representative Millard.

The Redevelopment Assistance Capital Program (RACP) is a Commonwealth grant program administered by the Office of the Budget for the acquisition and construction of regional economic, cultural, civic, recreational, and historical improvement projects. RACP projects are authorized in the Redevelopment Assistance section of a Capital Budget Itemization Act, have a regional or multi-jurisdictional impact, and generate substantial increases or maintain current levels of employment, tax revenues, or other measures of economic activity. RACP projects are state-funded projects that cannot obtain primary funding under other state programs.


How to Successfully Start a Business During a Pandemic

Are you interested in opening your own business? Are you wondering how it is possible to do during a time of uncertainty? The pandemic doesn’t mean that you have to postpone starting a business. Join the members of the Wilkes University Small Business Development Center for a free five-week series to learn how you can successfully begin a business and rise to meet the new demands of the market. 

 

Advancing Forward Amid Crisis

Attorney Julie Steinbacher, the founding shareholder of Steinbacher, Goodall & Yurchak, gave this presentation on December 8th, on looking ahead to 2021 from a small business perspective in light of all that has happened in 2020. Among the topics discussed are COVID-19 vaccinations from an employer standpoint, caring for employees and the importance of procedures, grants, PPP loan forgiveness, and the Families First Coronavirus Response Act (FFCRA).  Watch it here.

CareerLink Providing Opportunities for Your Business

From PA CareerLink

The PA CareerLink is providing virtual opportunities for businesses all throughout the month of January.  

Weekly Virtual Job Fairs
Register now to secure your spot in our weekly job fairs!

Choose the dates you want to attend!

If you have any questions, please email [email protected] or call Theresa Kohler at 570.337.5474.


New Hire Reporting
Did you know that new hire reporting is required by law within 20 days of the start date?

This seminar will help you understand:

• Why, how, and when you must report new hires
• Reporting of newly hired, rehired, recalled, and temporary employees
• How to utilize the PA CareerLink site to report new hires
• Your impact, and the importance of participation in the PA New Hire Reporting Program

January 12th session, click here!
January 14th session, click here!


Employer Seminar
Learn how to Connect with Your Future Workforce on Wednesday, January 20th, 2021.

Luke Zeigler of the Central PA Workforce Development Corporation, will share information about Path to Careers and how to include your company profile on the website to strengthen your connection with educators and students.

Register for this virtual seminar today!

 

OMB Releases Long Awaited 2020 Compliance Supplement Addendum

From McKonly & Asbury

Just in time for the holiday season, the Office of Management and Budget (OMB) released the long-awaited addendum to the 2020 Compliance Supplement on December 22, 2020. This addendum provides important updates to COVID-19 related federal funding and the impact to Single Audits. This addendum, along with the original Compliance Supplement issued earlier in the year, is effective for fiscal years beginning after June 30, 2019 (i.e. June 30, 2020 fiscal years and later).

For audited entities whose Single Audits have been delayed, the addendum provides for a 3-month audit submission extension for Single Audits of 2020 year-ends through September 30, 2020. This extension is only available if the recipient entity received COVID-19 funding. There is no approval required for the extension, but documentation must be maintained for the reason of the delay. For those entities with June 30, 2020 year-ends, with COVID-19 funding, the deadline for submission of the Single Audit is now June 30, 2021 (as opposed to March 31, 2021).

Other items addressed in this addendum include:

  • An updated matrix of compliance requirements subject to audit
  • Updated agency requirements for new COVID-19 programs, existing programs impacted by COVID-19, and some non-COVID-19 additions
  • Reporting of provider relief funds (expenditures and lost revenues) on the schedule of expenditures of federal awards (SEFA)
  • Treatment of the receipt of donated personal protective equipment on the SEFA

The addendum also clarifies that for existing federal programs that received funding under the CARES Act that are not included in the addendum, auditors should perform reasonable procedures to ensure the compliance procedures included in the 2020 Compliance Supplement are current.

A copy of the full addendum can be found here.

The 2020 Compliance Supplement issued in August 2020 can be found here.

If you have any questions regarding the 2020 OMB Compliance Supplement, or this recent addendum, and how they may impact your nonprofit organization, contact Jim Shellenberger, Principal, at [email protected].

Learn the Benefits of Being a Chamber Member at Upcoming Orientation

Has your organization recently joined the Chamber of Commerce? Or perhaps you have been a member for longer but would like a refresher on what benefits are available to and what the Chamber is doing on a daily basis on behalf of its members? Or maybe you’re not a member and are interested in learning more about what the Chamber can do for your organization?  Whatever the case, anyone is welcome to attend The Columbia Montour Chamber’s Member Orientation, which will be held virtually, Thursday, January 28th from 8:30-9:30 a.m.  This orientation will help you discover the multitude of benefits and marketing opportunities offered through the Chamber, as well as its ongoing initiatives aimed at economic and community development.  

Register today online or by calling 570-784-2522.  A Zoom meeting link will be sent upon registration.

Member Orientations are sponsored by USGKawneerBloomsburg UniversityFirst Columbia Bank & Trust Co.SEKISUI KYDEXPPL Electric Utilities, Geisinger, and First Keystone Community Bank.