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UPDATES ON COVID VACCINES --MORE PEOPLE WILL START BEING ELIGIBLE FOR VACCINES
Governor Cuomo plans to widen the groups of people eligible to receive the coronavirus vaccine to include persons over 75 and essential workers. High-risk residents of nursing homes and health care workers will still be prioritized after this change. Eligibility will widen on Monday, January 11th. New York State has indicated that they will update their vaccine webpage, available at the following link, to provide for vaccine sign-up.
New York State’s vaccine webpage is available here: https://covid19vaccine.health.ny.gov/
Those eligible to receive the vaccine will receive a notification when vaccine appointments are available if they complete the following form. As a reminder, wait times may be longer than 20 weeks due to exceedingly high demand: https://www.surveymonkey.com/r/JFX97LP
Governor Cuomo proposed legislation which would extend the statewide moratorium on rental evictions until May 1. Penalties for late residential rent payments will also be extended through May 1.
The Paycheck Protection Program (PPP) will re-open on January 11th for new borrowers and certain existing PPP borrowers. Only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13, but the PPP will open to all participating lenders shortly thereafter.
Changes to the program include:
· PPP borrowers can set their PPP loan’s covered period to be any length between 8 and 24 weeks to best meet their business needs
· PPP loans will cover additional expenses, including operations expenditures, property damage costs, supplier costs, and worker protection expenditures
· The Program’s eligibility is expanded to include 501(c)(6)s, housing cooperatives, direct marketing organizations, among other types of organizations
· The PPP provides greater flexibility for seasonal employees
· Certain existing PPP borrowers can request to modify their First Draw PPP Loan amount
· Certain existing PPP borrowers are now eligible to apply for a Second Draw PPP Loan.
Additionally, borrowers are usually eligible for a Second Draw PPP Loan if the borrower:
· Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses;
· Has no more than 300 employees; and
· Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.
Additional information on the PPP is available here: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program