The Daily Edition for Monday, April 13, 2020 |
To view this Daily Impact online, click here. |
Welcome to your daily Impact newsletter! |
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As a valued member of the Maine State Chamber of Commerce, we plan to stay in touch with you every afternoon, through emails like this one and on Facebook and Twitter, until the pandemic passes. We intend to provide you with the latest state and federal information, as well as highlighting the creativity and innovation that is occuring here in Maine during this unpredictable and rapidly changing time. To assist you in navigating the uncertainties ahead, we have created a diverse and comprehensive collection of web-based resources to help you take care of yourself and your family, your employees, your business, and your community. |
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Do you have a question? ASK THE EXPERTS. |
We are here to help in any way we can! |
$1.87 Billion in Paycheck Protection Program Loans Approved for 11,088 Maine Small Employers |
U.S. Senator Susan Collins announced today that 11,088 small employers in Maine have been approved for $1.87 billion in forgivable Paycheck Protection Program loans. Dozens of Maine lending institutions are currently participating in the program and working around the clock to disburse this funding as quickly as possible. "As of this morning, $1.87 billion in forgivable Paycheck Protection Program loans have been approved for 11,088 Maine small employers. This critical relief will help more than 100,000 Maine employees who will receive paychecks even if they have been temporarily laid off due to a decline in business resulting from the pandemic," said Senator Collins. "The immense value and high demand for the program makes it imperative that Congress act quickly to provide additional funding. Otherwise, it will run out of money. SBA has also indicated that a separate program, the Economic Injury Disaster Loan Program, needs to be replenished as well. I am working with my colleagues in the Senate to deliver this urgently needed funding to help meet the strong demand for both of these programs in Maine and across our country." Mike Tammaro, President of V.L. Tammaro Oil Company, a second generation oil/propane delivery business in Calais, is just one Maine employer already benefiting from the Paycheck Protection Program. He tells Senator Collins that his company applied for the program on Friday, April 3rd, and with the help of his bank, First National Bank in Calais, he received the funds one week later. "My employees over 40 in number are my family, many of whom have been here over 15 and 20 years," said Mr. Tammaro. "As a result of the Paycheck Protection Program, now we at least have a fighting chance of protecting my people and surviving financially to fight another day. I am so thankful for receiving this lifeline for me, my employees, my customers, and my community!" Paycheck Protection Program loans were created by the Keeping American Workers Paid and Employed Act, which was authored by Senator Collins along with Senators Marco Rubio (R-FL), Ben Cardin (D-MD), and Jeanne Shaheen (D-NH) to help small employers continue to keep paying their workers for an 8-week period during the COVID-19 pandemic. These loans will be forgiven so long as employers keep their workers on payroll. Certain overhead expenses, including utilities, are also included. Their legislation was included in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which passed the Senate 96-0 and was signed into law on March 27, 2020. Specifically, the Keeping American Workers Paid and Employed Act: * Creates the Paycheck Protection Program, a nearly $350 billion program to provide eight weeks of cash-flow assistance to small businesses through 100 percent federally guaranteed loans to employers who maintain their payroll during this emergency. If employers maintain their payroll, the loans would be forgiven, which would help workers to remain employed and affected small businesses and our economy to quickly snap-back after the crisis. * Allows the Paycheck Protection Program to cover payroll costs, including employee wages and salaries, paid sick leave, plus rent, mortgage interest payments, and utilities to provide immediate access to capital for small businesses who have been impacted by COVID-19. * Provides $265 million for grants to offer counseling, training, and related assistance to small businesses affected by COVID-19 to SBA resource partners, including Small Business Development Centers and Women's Business Centers and $10 million for the Minority Business Development Agency's Minority Business Centers and Minority Chambers of Commerce.
* Requires SBA to pay all principal, interest and fees on all new and existing SBA loan products including 7(a), Community Advantage, 504, and Microloan programs for 6 months, and provides $17 billion for this purpose. |
PPP Loan Forgiveness: Further Guidance on the Math |
You may have seen Verrill's earlier introduction to the complexities of Paycheck Protection Program math. This updated article provides an even deeper look into the loan forgiveness portion of that math. Thousands of companies have submitted applications for loans under the Paycheck Protection Program (PPP), and those funds are beginning to hit bank accounts across the country. Now that the money is here, or on its way, it is time to think about doing everything you can to ensure the highest possible forgiveness amount. As of this writing, we still do not have the final Small Business Administration rules on how the forgiveness provisions will work, but we do have the statute to give us some level of guidance. Here is a detailed look at the math, as best we know it, with key terms defined. If you have any questions, please contact attorney Greg Fryer, Benjamin Ford, or another member of Verrill's COVID-19 Response Team. |
Senator Collins Announces Maine Colleges and Universities to Receive More Than $41 Million |
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On Monday, April 13, U.S. Senator Susan Collins, a member of the Education Committee, announced today that Maine institutions of higher education will receive a total of $41,092,834 in the first round of funding for colleges and universities through the CARES Act. Of that amount, at least $20,546,425 must be used for emergency financial aid grants to students. With the additional funds, colleges and universities will offer direct aid to students to help them pay for items such as food, housing, course materials, technology, health care and child care. They may also use their funding to purchase technology to expand remote learning and to defray costs associated with lost revenue. Some of the Maine institutions of higher education that received the first installment of CARES Act funding are below. The full list of schools can be found online. |
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School |
Total Allocation |
Minimum Amount for Emergency Financial Aid Grants to Students |
Bates College |
$953,516 |
$476,758 |
Bowdoin College |
$1,123,660 |
$561,830 |
Central Maine Community College |
$1,882,719 |
$941,360 |
Colby College |
$1,244,996 |
$622,498 |
College Of The Atlantic |
$303,385 |
$151,693 |
Eastern Maine Community College |
$1,426,773 |
$713,387 |
Husson University |
$2,674,616 |
$1,337,308 |
Kennebec Valley Community College |
$979,695 |
$489,848 |
Maine Maritime Academy |
$876,568 |
$438,284 |
Northeast Technical Institute |
$303,535 |
$151,768 |
Northern Maine Community College |
$655,429 |
$327,715 |
Saint Joseph's College |
$649,094 |
$324,547 |
Southern Maine Community College |
$2,897,298 |
$1,448,649 |
Thomas College |
$762,266 |
$381,133 |
Unity College |
$822,158 |
$411,079 |
University of Maine |
$7,603,694 |
$3,801,847 |
University of Maine - Augusta |
$1,351,526 |
$675,763 |
University of Maine - Farmington |
$2,158,052 |
$1,079,026 |
University of Maine - Fort Kent |
$626,037 |
$313,019 |
University of Maine - Machias |
$293,556 |
$146,778 |
University of Maine - Presque Isle |
$610,998 |
$305,499 |
University of New England |
$1,365,831 |
$682,916 |
University of Southern Maine |
$4,616,245 |
$2,308,123 |
Washington County Community College |
$341,449 |
$170,725 |
York County Community College |
$556,529 |
$278,265 |
SERIES SPONSOR: Maine Economic and Community Development Additional webinars will be forthcoming, and sponsorship opportunities are available. Questions can be directed to Angela S. Arno, director of programs and events for the Maine State Chamber of Commerce, by emailing [email protected] or calling (207) 623-4568, ext. 104. |
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Wednesday, April 15 | Starting at 10:00 a.m. NAVIGATING THE LEGAL AND FINANCIAL ISSUES The Maine State Chamber of Commerce, the Associated General Contractors of Maine, and the Maine Aggregate Association have come together to offer a comprehensive webinar for the construction industry on navigating the legal and financial programs available during the pandemic. This webinar will bring together leading construction industry legal advisors and representatives from the financial industry to explain the newly-enacted programs and to answer industry-specific questions that pertain to the construction industry. If you are a Maine construction company, you won't want to miss this important event. Sponsored by Rudman & Winchell; TD Bank; and, Albin, Randall and Bennett |
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Wednesday, April 22 | Starting at 11:00 a.m. THE INTERSECTION OF WORKERS' COMP AND COVID-19 The impact of the COVID-19 pandemic on employers, their employees, and our state and national economies has been remarkable. Across the state, businesses large and small are struggling with how to adjust to this new and dramatically different paradigm. Like many other groups, the Maine State Chamber has worked to bring our members and employers all around the state the latest and most accurate information on changes to our unemployment insurance system, paid sick leave, paid FMLA leave, the CARES Act, and the accompanying Paycheck Protection Program and EIDL assistance. However, forgotten up to this point is how another important aspect of the cost of doing business may be impacted by the pandemic workers' compensation insurance. Like so many other business factors, there are a significant number of unknowns surrounding workers' comp going forward, including the compensability of COVID-19-related claims, claims that may arise while employees are working remotely from their homes, and how a shrinking statewide payroll may impact premium rates, and therefore, overall premium costs. Register here | Sponsored by MEMIC, MaineHealth, and United Insurance |
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Wednesday, April 29 | Starting at 11:00 a.m. WEBINAR FOR SOLE PROPRIETOR BUSINESSES: This webinar will focus on the short- and long-term issues arising from the pandemic for sole proprietors with suggested solutions. Topics covered will include a review of up-to-date federal and state legislative opportunities, tax issues to discuss with your accountant, insurance liability, health insurance options, credit protection, and steps for sole proprietors to take with customers. There will also be a brief review of pertinent estate planning options during the pandemic. Regiser here | Sponsored by Lambert Coffin |
Wed., May 13 | Starting at 11:00 a.m. RECENT STATE AND |
This webinar will focus on federal tax changes contained in the CARES Act and changes made at the state level that provide support for businesses during this pandemic. Additional topics also include a look at the ever-changing landscape at the federal level for additional stimulus funds and what those changes might look like. |
Tuesday, April 28 | Legislative Strictly Social Virtual Coffee Hour |
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The Maine State Chamber of Commerce and the Kennebec Valley Chamber of Commerce invites you to attend our Legislative Strictly Social Virtual Coffee Hour. We invite you to grab a cup of coffee at 9:00 a.m. on Tuesday, April 28, and hear from legislators about current issues. Normally, our annual series of statewide receptions is an ideal way for you, the Maine business leader, to interact with business associates, new and prospective Maine State Chamber members, and state representatives in a relaxed setting. This year, due to the COVID-19 situation, we will be hosting this event online as a coffee hour. We will have a panel of Maine Legislators open the hour and there will be an opportunity for questions through the Zoom chat feature. Please join us for this presentation. A participation link will be sent to you after you have completed registration. Learn more or register here. |
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Thank You To Our Generous Sponsors! |
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SERIES SPONSORS: Casella Waste Systems, Inc.; Central Maine Power Company; |
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PREMIER SPONSOR: AT&T |
SPOTLIGHT SPONSORS: Backyard Farms, LLC; Brookfield Renewable Energy |
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PRESENTING SPONSORS: Altria Client Services LLC; American Chemistry Council; Bank of America; Dead River Company; Emera Maine; Finance Authority of Maine; Hannaford Supermarkets; MaineHealth; Merrill's Investigations & Security; Mitchell Tardy Jackson Government Affairs; PhRMA; Preti Flaherty, LLP; Spectrum Healthcare Partners; The Sheridan Corporation; Unitil Corp. |
OFFICIAL SPONSORS: Bangor Savings Bank; Charter Communications; Cross Insurance; E.A. Scribner Insurance Agency, Inc.; Elanco; Enterprise Holdings; IDEXX Laboratories, Inc.; Maine Better Transportation Association; MEMIC; Maine Primary Care Association |
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Sponsorship opportunities are still available for this event. Questions can be directed to Angela S. Arno, director of programs and events for the Maine State Chamber of Commerce, |
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Webinar | How-To's for Family Business |
The Institute for Family-Owned Business will host a webinar on Thursday April 16, from 8:00 a.m. to 10:00 a.m., on how to respond to coronavirus-related challenges in legal, HR and communication areas. It's free for members, and a donation suggested for others. Register here. Linda Varrell of Broadreach Public Relations will address critical communication needs, how communication should be handled, and how to create a consistent and compliant message. Peter Lowe and Dan Stockford of Brann & Isaacson will then go over the new and update laws around the coronavirus. David Ciullo of Career Management Associates will moderate the presentation and will wrap up with additional HR information from the front lines.The majority of the webinar will address specific audience questions. For more information, please contact Brooke Stewart by calling (207) 281-2414 or by emialing mailto:[email protected]?subject=How-To Webinar on April 16. |
Maine Congressional Leaders Have Mixed Views On Infrastructure Bill |
According to Maine Public, congressional leaders of both parties and President Donald Trump are calling for a fourth package to help restart the economy after the COVID-19 pandemic - this one aimed at infrastructure. But Maine's delegation differs on priorities and timing. "Anyone who travels around the state as much as I do knows that there is still a lot of work to be done on our roads, our bridges in particular," says U.S. Sen. Susan Collins. "Although we have made a lot of progress on our seaports, more needs to be done three as well also our airports." Collins says every state, including Maine, has a backlog of transportation projects, ranging from roads and bridges to ports and airports, and she says tackling those with a big federal investment will put a lot of people back to work. Independent Sen. Angus King agrees with that need, but adds that the millions of people working from home, as well as the millions of students learning online, demonstrates a need to invest in broadband internet. "We have thousands of people working from home, but you can't work from home if you don't have decent broadband," says King. "We've got thousands of kids out of school who want to keep up with their schooling, but it is very hard for them to stay engaged with their school and teachers without a broadband connection." U.S. Rep. Chellie Pingree, a Democrat representing the state's First District, says infrastructure investments must be aimed at the future and, too often, money is spent on old technology and not invested in the future. "I think we will be saying what's the right way to do it in the future so we are not rebuilding things in a way that are antiquated by the time it is done," Pingree says. And Democratic Second District Rep. Jared Golden says it is too early to discuss an infrastructure package, although he agrees one will be needed. "What good would doing a big infrastructure bill be right now? We can't even deploy our workforce," Golden says. "That's not going to stimulate the economy. But we should be talking about that once we get the all clear on this virus." Golden says Congress needs to help laid-off workers pay their bills and invest in the nation's health care system to handle this pandemic - and whatever the next health crisis may be. |
Maine Hospitals, Clinics To Receive Nearly $146 Million In Federal Aid |
The funding is part of a $30 billion aid package for health care providers across the country as part of the federal CARES Act. On Friday, April 10, the Portland Press Herald reported that Maine hospitals and other health care providers will receive an immediate infusion of $145.8 million to bolster their efforts in the fight against the coronavirus pandemic. U.S. Sens. Susan Collins and Angus King said in a joint statement last week that $30 billion of aid is being distributed immediately to health care providers in Maine and across the country as part of the federal CARES Act, which includes $100 billion for health care providers. Across the state, 1,681 health care providers will receive funding, which will be used to reimburse them for health care-related expenses or lost revenue attributable to coronavirus, and to ensure uninsured Mainers can get testing and treatment for COVID-19, the respiratory disease caused by the virus. |
Maine DECD Activates Maine's Startup And Early-Stage Technology Companies In Response To The COVID-19 Disaster |
The Maine Department of Economic and Commumity Development is identifying Maine startup companies with a product or service that may help in the response to the COVID-19 disaster in a variety of ways beyond immediate medical needs that are the focus of the MEMA COVID-19 Response Team, including economic disruption and recovery. Working with Village Capital, Maine DECD is building a list of startup companies actively responding to the COVID-19 crisis, along with a coalition of investors outside Maine who are actively looking for new opportunities. The Sorenson Impact Foundation is bringing its impact investor network to the table without geographic boundaries as part of the COVID-19 Coalition. * Does your startup have a solution that could be adapted to help Mainers or others during the COVID- 19 Emergency? * Would working directly with the State of Maine help you pay it forward? * Would additional investment allow it to be adapted or scaled? Please complete or update a profile in Abaca to be considered a part of the COVID-19 Coalition Startup pipeline. Abaca is the platform Maine DECD is using to gather information and share it with investors. It will also allow start-ups to benchmark their investment readiness and find matching sources of capital and other resources. For questions, please contact Martha Bentley. For technical assistance with Abaca, please contact Sean Siegrist. |
Governor Mills Issues Executive Order Moving Primary Election to July 14th |
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Order also allows for absentee ballot applications up to and including Election Day On Friday, April 10, as Maine implements strategies to mitigate the spread of COVID-19, Governor Janet Mills signed an Executive Order moving Maine's primary election from Tuesday, June 9, 2020 to Tuesday, July 14, 2020. The Order, which is effective immediately, also allows applications for absentee ballots to be made in writing or in person, without specifying a reason, up to and including the day of the election. It also extends the deadline for qualifying contributions under the Maine Clean Election Act to May 19, 2020. |
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The delay in the primary election will provide additional time for Maine people to request absentee ballots in order to minimize in-person interaction at the polls and will allow the Secretary of State's Office additional time to develop guidelines to help municipalities conduct in-person voting in as safe a manner as possible. In addition to rescheduling Maine's primary election, the Executive Order allows applications for absentee ballots may be made in writing or in person up to and including the day of the election in order to allow voters to obtain an absentee ballot and return it prior to the closure of the polls on July 14, 2020. Absentee ballots issued more than three months before June 9, 2020 remain valid for use in the July 14, 2020 election. The Order also extends the Maine Clean Election Act submission deadline for qualifying contributions to 5:00 p.m. on May 19, 2020 instead of April 21, 2020. To become eligible for Clean Elections funding, candidates must collect a minimum number of checks or money orders of $5. Governor Mills' Stay Healthy at Home Order effectively prevents candidates for public office from traveling door to door to collect such contributions. Candidates can and should obtain these contributions online. |
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