American Institute of CPAs Releases Summary of Recent Changes to PPP
The Paycheck Protection Program (PPP), under the newly legislated Coronavirus Aid, Relief, and Economic Security (CARES) Act, provides small businesses with forgivable loans. Administered through the Small Business Administration (SBA), the PPP loan proceeds are to be expended on payroll, rent, mortgage payments, or utilities. Funding spent on covered expenses qualify for PPP loan forgiveness. The Paycheck Protection Program Flexibility Act of 2020, enacted June 5, provides borrowers flexibility in their PPP loan. New options include a 24-week covered period, payroll expenditure requirement reduced to 60 percent, and, for those loans not forgiven, a repayment plan of 5 years.
Download the summary here.
Business Recovery: Progressing Through Change
Join the Business Recovery Taskforce and the Arapahoe/Douglas Workforce Development Board from 8 a.m. to noon June 11 as they host a virtual conference that will help you navigate the best practices for your business recovery.
Betsey Markey, Executive Director- Office of Economic Development and International Trade
Joe Barella, Executive Director - Colorado Department of Labor and Employment
Registration is limited to the first 300 businesses. To RSVP, register here or learn more at adworks.org.
Polis Issues Order Allowing Temporary Shared Outdoor Dining Areas for Restaurants with Liquor Licenses
Governor Jared Polis has issued a new executive order allowing more flexibility in outdoor dining. The order allows restaurants to temporarily serve alcohol and food within a communal outdoor dining area within 1,000 feet of the participating restaurants with approval from local and state licensing authorities. If you are a restaurant interested in applying for this type of temporary modification of your liquor license, or have additional questions, please contact the City of Centennial’s City Clerk’s Office at firstname.lastname@example.org or 303-325-8000.
Join the 'Think Local Centennial' Contest
To encourage Centennial’s residents to support local businesses, Centennial has launched the Think Local Centennial Contest. People who post selfies with an item they purchased from a Centennial business or in front of a Centennial business and tag them with #ThinkLocalCentennial will be entered to win a $50 gift card to a Centennial restaurant. Learn more.
Coming Soon: Movie Night at The Streets at SouthGlenn
Join the City of Centennial at The Streets at SouthGlenn for the first Centennial Wheels and Reels summer movie series! Bring the family along for an exclusive movie showing from the safety and comfort of your vehicle.
The first movie in the series, 'Sonic the Hedgehog' (rated PG), will be shown at 7:30 p.m. June 18 at The Streets at SouthGlenn. Get tickets here.
Our goal is to offer residents a fun and safe experience. The City is following all CDC and social distancing guidelines. Learn more.
SBA to Send Invites to Businesses That Did Not Receive EIDL Advance
Starting June 4, SBA Office of Disaster Assistance began to issue e-mail invitations to applicants that did not receive the COVID-19 EIDL Advance because the SBA was unable to verify/validate their business and/or bank account information. They will be invited to the portal to resubmit their COVID-19 EIDL advance request. They do not need to be approved for a COVID EIDL to qualify. It may take 2-3 weeks for the e-mails to be sent to all who may be affected.
General Business Resources
Aurora - South Metro Small Business Development Center | Business Licensing & Registration | Arapahoe/Douglas WORKS! | Arapahoe Libraries Business Support Services
WANT TO KNOW MORE? Contact Centennial's Economic Development Division
Neil Marciniak, Economic Development Director | 303-754-3351 | email@example.com
Stewart Meek, Economic Development Specialist | 303-754-3410 | firstname.lastname@example.org
City of Centennial, 13133 E. Arapahoe Road, Centennial, CO 80112 | 303-325-8000