SBA Connecticut's July Newsletter 2020

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Connecticut District Office  - July 2020

u s small business administration

SBA and Treasury Announce Release of Paycheck Protection Program Loan Data

ppp icon

The U.S. Small Business Administration, in consultation with the Treasury Department, announced it was releasing detailed loan-level data regarding the loans made under the Paycheck Protection Program (PPP). This disclosure covers each of the 4.9 million PPP loans that have been made.

The average loan size is approximately $100,000, demonstrating that the program is serving the smallest of businesses. The release of loan data strikes the appropriate balance of providing the American people with transparency, while protecting sensitive payroll and personal income information of small businesses, sole proprietors, and independent contractors.

This data shows that small businesses of all types and across all industries benefited from this unprecedented program. The jobs numbers released last week reinforce that PPP is working by keeping employees on payroll and sustaining millions of small businesses through this time.

Today’s release includes loan-level data, including business names, addresses, NAICS codes, zip codes, business type, demographic data, non-profit information, name of lender, jobs supported, and loan amount ranges as follows:

  • $150,000-350,000
  • $350,000-1 million
  • $1-2 million
  • $2-5 million
  • $5-10 million

These categories account for nearly 75 percent of the loan dollars approved. For all loans below $150,000, SBA is releasing all of the above information except for business names and addresses.

The data release also includes overall statistics regarding dollars lent per state, loan amounts, top lenders, and distribution by industry. The loans have reached diverse communities proportionally, across all income levels and demographics.

In addition, the data provides information regarding the sizes of participating lenders and participation by community development financial institutions, minority depository institutions, Farm Credit System institutions, fintechs and other nonbanks, and other types of lenders. It further contains data showing the reach of the program in underserved communities, rural communities, historically underutilized business zones (HUBZones), and participation by religious, grantmaking, civil, professional, and other similar organizations.

Click Click here to view the data

Notice: Paycheck Protection Program has Reopened

SBA Paycheck Protection Program

The Paycheck Protection Program resumed accepting applications July 6, 2020, at 9:00 AM EDT in response to the Paycheck Protection Program Extension Act. The new deadline to apply for a Paycheck Protection Program loan is August 8, 2020. 

Participating Lenders

Economic Injury Disaster Loan and Economic Injury Disaster Loan advance, , EIDL, Coronavirus

Economic Injury Disaster Loan Emergency Advance

The SBA continues to accept new Economic Injury Disaster Loan (EIDL) applications via the online application portal for any qualifying business that has not yet applied. These loans proceeds can be used to help your small business with accounts payable, payroll, or other costs accrued by the business.  You may find information about the program and the link to the online application by Clicking Here.


On July 1, 2020, the U.S.-Mexico-Canada Agreement (USMCA) entered into force, officially replacing the North American Free Trade Agreement (NAFTA). USMCA is a ground-breaking achievement for U.S. small businesses and is the first trade agreement ever to include a full chapter dedicated to small business interests.

Supporting and expanding U.S. small business trade with Mexico and Canada is a top priority for me as the new Associate Administrator for SBA’s Office of International Trade (OIT). SBA OIT has a team of talented trade finance specialists and finance products to help small businesses involved in international trade to access capital, purchase inventory as a manufacturer or supplier, and expand through trade. OIT helps ensure small businesses are adequately represented in trade negotiations led by the Office of the U.S. Trade Representative and educates U.S. small businesses on the wide range of federal and state resources that can increase their ability to compete in international trade. To learn more Click here

Paycheck protection program, PPP

Paycheck Protection Program (PPP) Loan Forgiveness Info.

Forgiveness application for the Paycheck Protection Program are now being accepted and will continue to be accepted through the lifetime of the loans. To access the forgiveness documents click the links below:

EZ Loan Forgiveness Application

EZ Loan Forgiveness Application Instructions

Regular Loan Forgiveness Application

Regular Loan Forgiveness Application Instructions

All PPP Related Materials



PPP: Forgiveness Guidelines – Webinar July 8, 11:00am

Lenders are starting to accept PPP Forgiveness Applications, and for those who are seeking to get the application in as soon as possible, the process can seem daunting. While you have time to submit your forgiveness application, under certain circumstances you may want to submit it prior to the deadline (particularly as it relates to full-time employee equivalent counts). Join us to understand what this means, and what you should keep in mind as you seek to apply for forgiveness.

To include:

  • Payroll costs you can and can’t include when it comes to forgiveness
  • Non-payroll costs that qualify for forgiveness
  • When payroll and non-payroll costs must be incurred and paid to qualify
  • How businesses may benefit from the change from an eight-week to a twenty-four-week period (and why some may choose to stay with the eight-week period)
  • Caps on owner-compensation replacement for owners with employees & self-employed individuals
  • Who can use the new EZ loan forgiveness form, and who should use the longer version

No-cost. Advance registration required via the CTSBDC to access the WebEx Events information. Register Here!


WBDC Introduces PPP Forgiveness Calculation Tool

WBDC’s expert Business Advisors have created a PPP Forgiveness Calculation Tool to help small business owners track their business expenses and maximize their PPP loan forgiveness. Download tool today, or contact us at (203) 751-9550 or email us, to request a counseling appointment to assist you in utilizing this tool.

WBDC strives to strengthen our communities through the equity of entrepreneurship and will remain steadfast in its mission of economic equality. We plan on using  this page to help further promote and support black-owned enterprises and share valuable resources.


Introducing WBDC’s Minority-Owned Enterprises Directory, which is currently showcasing local black-owned businesses. Join us in supporting equity through economy CLICK HERE to find a BOE near you.

For Class Listings click here - the path to business and financial success starts here!

SCORE Connecticut

Has 6 Chapters in Connecticut with over 44 satellite locations! SCORE mentors are available to work remotely via phone, email and video. They've also developed a new way to get advice LIVE through their Real-Time Mentoring platform. Both options allow you to connect safely to our expert mentors from your own home.

In-Person events are suspended, but online support is available so contact your local chapter

SCORE provides free and confidential business mentoring to start-ups and existing small businesses


Women's Business Center /Entrepreneurial Center 

Click on the webinar links below to register in advance. Upon registration, you will receive a confirmation with the webinar link, and a reminder prior to the start of the webinar. Click here to learn more or to register to one or more workshops below.

How to Write a Government Friendly Capability Statement

Thursday, July 9; 11am—12pm, In this WBC/CTPTAC Contracting Series webinar, we will be presenting information on How to write a “Government Friendly” Capability Statement, to include covering key areas needed when soliciting your company capabilities to government agencies, prime contractors, and responding to Bid Opportunities.


Coping with COVID Together: Resources, Updates, Q&A

Thursday, July 9, 12—1pm, Join us for a recap of recent state and municipal assistance programs available to help you and your small business survive the current crisis.

How to Start Your Own Small Business

Tuesday, July 14; 10am—12pm & Wednesday, July 15; 6—8pm

As unemployment increases, this is a great time to consider your small business options. Whether you are an aspiring entrepreneur or interested in creating a side gig, move your ideas into action! In this workshop, you will learn how to:

  • Navigate governmental regulations
  • Find resources and plan action steps to reach your goal
  • Explore how your experience, financial resources, and lifestyle needs affect your business options

Coping with COVID Together: Resources, Updates, Q&A

Thursday, July 16, 12—1pm, Join us for a weekly series on resources available to help you and your small business survive the current crisis.

Past Events

women innovate pitch competition

Women Innovate Pitch Competition Recap

On June 30th, the Women' s Business Center held a virtual business pitch competition where local, aspiring entrepreneurs pitched their business ideas to a panel of judges. They were blown-away by the innovation and range of ideas presented! Each competitor did an amazing job at the pitch and the WBC looks forward to highlighting them and their business ideas in upcoming newsletters. Round of applause for the winners listed below!!!
  • Best Technology Business: Jayme Coates, Lactation Innovations
  • Best Traditional Business: Merissa Watson, Face and Body Institute of New England 
Competition Finalists:
  • Delanea Davis, Cloud 9 Online
  • Susan Dong, IT HELPS LLC
  • Tamar Draughn, Phoenix Professional Services
  • Marien Zanyk, Zaneez
  • Jennifer Smithberger, Seedership
  • Tamika Brock-Staples, Excellens, LLC
  • Kim Larkin, Klassic Kreations
  • Emily Yale, Land Maverick
Milena Erwin, WBC Program Manager, stated, "Holding our inaugural Women Innovate Pitch competition event was very exciting. We are proud to be part of the region’s efforts to highlight and support women entrepreneurs and innovators, encouraging high-potential technology solutions as well as ideas with social impact. These times of crises have spurred many innovations, and we look forward to keeping the momentum with future events."
Judges were:
  • Sarbina Tucker-Barrett, Girls for Technology
  • Moraima Gutierrez, U.S. SBA, CT District Office
  • Ojala Naeem, Travelers
  • Andreas Kapetanopoulos, NBT Bank

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