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Paycheck Protection Program taking applications again
The Small Business Administration began accepting Paycheck Protection Program applications from participating lenders again on Monday, according to a news release from the Bucknell University Small Business Development Center.
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.
SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest or utilities, the Bucknell University Small Business Development Center's website said.
Business owners can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. Business owners should consult with local lenders as to whether they are participating in the program.
State defers payments for volunteer fire companies
The Wolf Administration announced Friday that it will extend the maturity dates of loans offered to volunteer fire departments under the Volunteer Loan Assistance Program and temporarily defer payments for the months of April, May, and June.
"As the effects of the coronavirus and the necessary government response ripple their way through our state, it should be no surprise that our volunteer fire departments are feeling the pain," said State Fire Commissioner Bruce Trego, according to a news release. "Our office is here to help our commonwealth’s fire fighters, and that hasn’t changed as we telework during Governor Wolf’s stay-at-home order. We’re committed to working very hard with departments to assist them with the resources they need to ensure they can meet their financial obligations during these difficult times."
The Volunteer Loan Assistance Program provides loans to volunteer fire companies, ambulance services and rescue squads for the purpose of purchasing and modernizing apparatus, facilities and equipment. There will be no interest or penalties assessed for borrowers who accept this deferment.
Since its inception, the program has approved more than $500 million in loans for the commonwealth’s volunteer emergency services community, the news release said.
Office of State Fire Commissioner staff provide technical assistance and regulatory guidance to applicants; receives, analyzes and approves loan applications; supplies loan closing services; maintains financial and historical files and services all accounts until they are closed. For those borrowers who wish to decline deferment and continue to make payments, please notify Office of State Fire Commissioner staff.
Tioga County raffle conducted by phone
Because of the coronavirus crisis, tickets for Trout Unlimited Tiadaghton Chapter’s annual "Blast and Cast" raffle are only available by calling or emailing Dave Cahill, raffle chair.
"Our local TU chapter uses all proceeds from our Blast and Cast Raffle to fund conservation and educational projects in Tioga County, such as stream habitat improvements, youth fishing and water quality monitoring," Cahill said, according to a news release.
"Since mid-March, no public events have been held where we can sell our raffle tickets due to COVID-19, a highly contagious disease," Cahill noted.
"With no idea how long it will take to contain the spread of COVID-19 through social distancing, I am offering people the opportunity to purchase raffle tickets directly from me," Cahill said.
The names of three prizewinners will be drawn, the news release said. To win, ticket holders do not need to attend the Blast and Cast drawing on Saturday, June 20.
Tickets will be mailed to those who provide Cahill with their name, street address, including zip code, and the number of tickets they want by emailing him at lapdoc2000@yahoo.com or by calling him at 570-439-5276.