HARTFORD, Conn. — Governor Ned Lamont, along with a number of other state officials, held a phone conference Thursday afternoon to discuss resources available to small businesses during the COVID-19 outbreak.
Officials went over several programs and initiatives including the Paycheck Protection Program, or PPP, which is available to small businesses and non-profits in Connecticut.
“This is the most important program for small businesses in Connecticut,” DECD Commissioner David Lehman said. “You can pay employees and manage payroll in this difficult time.”
According to the state, this program authorizes up to $349 billion toward job retention and certain other expenses. Click here to find out how this resource works.
Insurance Commissioner Andrew Mais also spoke about a number of programs available to help with health and other types of insurance including one opportunity for small and medium sized businesses offered by the IRS.
To learn more click here.
Commissioner Mais also said he sent a notice to insurers earlier this week about lowering auto premiums as less people drive during this time.
“They haven’t had much time to comply frankly, but the companies I’ve spoken to are doing it, or are in the process of doing it, or have already done it,” Commissioner Mais explained.
During Governor Lamont’s press conference Wednesday, he announced a partnership, which would help minority and women business owners who have less than 20 employees on staff.
Officials spoke about the initiative on Thursday’s call and said this program is targeted toward “mom and pop,” type businesses.
They said it would help with cash flow so they can sustain their business operations during this pandemic.