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New Guidelines Released
Industries eligible to re-open under Phase 3 are food service and personal care. This includes indoor dining facilities, tattoo and piercing facilities, appearance enhancement practitioners, massage therapy, spas, cosmetology, nail specialty, UV or non-UV tanning, and waxing.
Go here for the full Phase 3 guidelines and safety plan templates.
Additional resources for preparing for your re-opening:
Printable Posters for your Business:
Cleaning & Sanitizing Supplies for your Business:
Cleaning Procedures – How do you prepare your business for customers, and keep it clean and safe throughout the day for employees? Follow the guidelines recommended by the CDC here, and use them as you develop your Business Safety Plan. |
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Town of Canton COVID-19 Recovery Loan Program
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Applications Now Available!
The Town of Canton has launched the COVID-19 Recovery Loan Program to provide businesses located in the Town of Canton with short-term relief and access to working capital in response to the COVID-19 pandemic.
Small businesses and non-profits with twenty-five or fewer full-time equivalent employees (FTE) that have been in business for at least six months are eligible to apply. The Program may provide loans for the greater of $10,000, or $1,000 per FTE with a maximum of $25,000, and can finance working capital, and expenses (supplies, equipment, etc.) related to adherence to precautionary guidelines to protect against the spread of COVID-19. Loans are for a term of five years at an interest rate of zero percent (0.0%) with no payments for the first six months.
For more information or to request an application, please contact Leigh Rodriguez, Director of Economic Development at lrodriguez@cantonny.gov. |
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Small Business Relief Grants
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Round 4 Applications Due June 17
The Local Initiatives Support Corporation (LISC) is providing grants to small businesses to help them keep functioning and remain vital facets of their local economies through this challenging period.
Round 4 applications are due by Wednesday June 17, 2020 at 11:59pm. To learn more and apply, go here. |
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Changes to SBA PPP Program
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Paycheck Protection Program Flexibility Act Signed into Law June 5, 2020
Summary of the PPP Flexibility Act:
- Extends the timeline to spend PPP funds and receive forgiveness from 8 to 24 weeks
- New deadline is December 31,2020, as opposed to the June 30, 2020 deadline established in the CARES Act
- Reduces the 75% payroll ratio requirement to 60%
- At least 60% of a PPP loan must be used for payroll costs to be eligible for loan forgiveness, overriding and replacing the 75% requirement established by the SBA. The remaining 40% can be used for non-payroll costs such as rent, mortgage interest, or utilities.
- Extends loan limit from 2 to 5 years
- This measure sets a five-year minimum repayment term for any forgivable portions of PPP loans, overriding the two-year repayment term established by the SBA.
- This provision only applies to loans issued after enactment of this bill, though borrowers and lenders would be allowed to modify existing loan terms.
- Allows a business receiving loan forgiveness to also defer payroll taxes, which was prohibited under the CARES Act.
- Extends the June 30 rehiring deadline and provides relief to businesses that are unable to rehire laid off employees.
- Under current law, businesses must rehire employees by June 30. Now, a loan could be forgiven if the business can demonstrate that it is:
- Unable to rehire a laid off employee;
- Unable to rehire a similarly qualified employee before December 31, 2020; or
- Unable to return to a pre-pandemic level of business activity due to compliance with social distancing, safety, or public health guidance related to the COVID-19 pandemic.
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Our Communities Rely on Your Response
Click the image below to fill out the Census today!
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Small Business Advising
Contact the SUNY Canton Small Business Development Center (SBDC) for an appointment - 315.386.7312 or online here.
COVID-19 Online Resources
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Canton Business Owners
We want to hear from you!
Email Jeni Reed, Economic Development Assistant, to share your thoughts, concerns, and stories. We will respond with content and information that is tailored to your interests and needs for this time of uncertainty.
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