Message from the president
June 25, 2020
Quickly Evolving News
June 23, 2020
- Self-employed and have no employees; OR
- Did not reduce the salaries or wages of their employees by more than 25%, and did not reduce the number or hours of their employees; OR
- Experienced reductions in business activity as a result of health directives related to COVID-19, and did not reduce the salaries or wages of their employees by more than 25%.
June 12, 2020
June 6, 2020
June 4, 2020
- Extending the eight-week loan term, now allowing borrowers 24 weeks to use the PPP funding in order to be eligible for loan forgiveness
- Lowering the threshold of the required loan forgiveness payroll percentage from a 75/25 ratio to 60% or more of payroll and up to 40% on other costs.
- Extending the covered period from June 30 to December 31
- Extending the loan repayment period from two years to five years
- Allowing borrowers whose loan is forgiven to be able to defer payroll taxes
A Brief Pause for In-Person Programming
All around us, our region is taking action to minimize the spread of COVID-19. In congruence with the guidance of Governor Baker as well as the actions of other chambers and organizations, the Springfield Regional Chamber will pause in-person programming until May 1, at which point we will determine next steps.
We intend to reschedule our current events, including Fire & Ice, the Mayors' Forum and our Beacon Hill Summit, when it is safe to do so. Just like you, we are taking this situation seriously and day-by-day.
BUSINESS DOESN'T STOP... AND NEITHER DO WE
Business hasn't stopped, and your Chamber hasn't either. Our legislative advocacy work in Boston continues. Board and Committee meetings will continue virtually. And our staff will continue to work, be it in the office or from home, to serve our members during this challenging time.
A NEW STRATEGY
New developments call for a new strategy. To that end, we're refocusing some of our resources to support digital member and community engagement.
Be on the lookout for webinars, our regular newsletters, as well as exciting member stories and engagement opportunities on our social platforms. We will continue to build community and support commerce, even "from home.”
We will be processing refunds for anyone who has already purchased admission to events previously scheduled in the near future: Multi-Chamber Speed Networking Breakfast, Mayor's Forum 2020, Fire & Ice, Beacon Hill Summit 2020.