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COVID-19 Small Business Resource News
 
Posted on Wednesday June 24, 2020
 
June 24, 2020: Green Phase guidance for businesses from Montgomery County and Pennsylvania. Keep an eye out for Small Business COVID-19 financial assistance by reaching out to Community Development Financial Institutions -- $225M expected to be available on or about June 30, 2020.
 
June 24, 2020 -- Montgomery County provides Green Phase Reopening Guidance for businesses and Pennsylvania provides answers to Frequently Asked Questions from businesses about COVID-19.


June 16, 2020 -- In late June, applications for COVID-19 relief to small businesses will be made available by the Pennsylvania Department of Community & Economic Development  through Community Development Financial Institutions (CDFIs). Approximately $225 million will be made available through this program. More information can be found on DCED's P A COVID-19 Relief Statewide Small Business Assistance Program webpage.


June 10, 2020 -- The Cheltenham Township Board of Commissioners adopted Ordinance No. 2410-20, an Emergency Ordinance temporarily granting restaurants the ability to have outdoor seating during Yellow Phase of the Pennsylvania Process for Reopening. For information about how your restaurant can add temporary outdoor seating, please contact the Planning & Zoning Department.


June 8, 2020 --The Paycheck Protection Program (PPP) Flexibility Act was signed into law on June 5, 2020. This Act provides more flexibility to the previous PPP by:
  • Extending the 8 week period borrowers have to spend the loan proceeds to 24 weeks
  • Reducing the payroll spend requirements from 75% to 60%
  • Extending the loan repayment period from two years to five years
  • Allowing businesses to delay paying payroll taxes even if they took a PPP loan
  • There are new exceptions for borrowers to obtain full forgiveness even without fully restoring their workforce.
If you have not applied for a PPP loan, money is still available and conditions are more advantageous. Follow the links for more information about the  Paycheck Protection Program and to find a Qualified Paycheck Protection Plan Lender.


June 7, 2020: The  video from the Economic Development Task Force's May 28, 2020 Virtual Town Hall for Cheltenham Township Small Businesses and updated resources for businesses have been posted on the  COVID-19 Business Resources Page.


May 31, 2020:  Yellow Phase Reopening Guidance from Montgomery County -- Montgomery County provides guidance for Yellow Phase business and social restrictions when Southeast Pennsylvania moves to the Yellow Phase on June 5, 2020.


The following Tax Deadlines have been extended:
The Township and County Real Estate Tax Discount Period deadline is June 3, 2020.
Penalties will be assessed on or after August 4, 2020.
The deadline for the 2019-2020 Mercantile and Business Privilege Taxes is now July 15, 2020.


 For a comprehensive list of business resources, please visit
   COVID-19 Business Resources.
 
 
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