Home | Join Us | Directory | Events

East Bay Chamber of Commerce

  • Why Join
    • Become a Member
    • Artisan Membership
    • Market Your Business
    • Networking & Exposure
    • See Who's Joined
  • Member Benefits
    • Membership Directory
    • Free Marketing Tools >
      • Ribbon Cuttings
      • Chamber Blog
      • Event Calendar
      • M2M Discounts
      • Speaker's Bureau
      • Bay Bucks >
        • Participating Businesses
    • Premium Marketing Tools >
      • Making Connections
      • Tuesday at Two
    • Networking Groups >
      • WEBOND
      • CEO Manufacturers Round Table
      • EBYP
    • Coggno Online Training
    • US Chamber
  • Economy
    • Existing Business Support
    • Starting a Business >
      • Barrington
      • Bristol
      • Warren
    • State Government
    • RI Chamber Coalition
    • Job Bank
  • Events /Tourism
    • Chamber Events
    • Community Events
    • Submit an Event
    • Bristol County >
      • Points of Interest
      • Map of Area
    • Plan Your Visit
    • Shop Local
    • Live & Work >
      • Barrington
      • Bristol
      • Warren
    • Coronavirus (COVID-19)
  • Member Login
  • About Us
    • History
    • Board of Directors >
      • Chairman's Message
    • Committees
    • Membership Directory
    • Affiliates & Associates
    • Contact Us
  • Blog
  • Why Join
    • Become a Member
    • Artisan Membership
    • Market Your Business
    • Networking & Exposure
    • See Who's Joined
  • Member Benefits
    • Membership Directory
    • Free Marketing Tools >
      • Ribbon Cuttings
      • Chamber Blog
      • Event Calendar
      • M2M Discounts
      • Speaker's Bureau
      • Bay Bucks >
        • Participating Businesses
    • Premium Marketing Tools >
      • Making Connections
      • Tuesday at Two
    • Networking Groups >
      • WEBOND
      • CEO Manufacturers Round Table
      • EBYP
    • Coggno Online Training
    • US Chamber
  • Economy
    • Existing Business Support
    • Starting a Business >
      • Barrington
      • Bristol
      • Warren
    • State Government
    • RI Chamber Coalition
    • Job Bank
  • Events /Tourism
    • Chamber Events
    • Community Events
    • Submit an Event
    • Bristol County >
      • Points of Interest
      • Map of Area
    • Plan Your Visit
    • Shop Local
    • Live & Work >
      • Barrington
      • Bristol
      • Warren
    • Coronavirus (COVID-19)
  • Member Login
  • About Us
    • History
    • Board of Directors >
      • Chairman's Message
    • Committees
    • Membership Directory
    • Affiliates & Associates
    • Contact Us
  • Blog
​

​​Chamber Connections BLOG

Coronavirus Update From a Legislative Perspective March 30

3/30/2020

0 Comments

 
Coronavirus Update From a Legislative Perspective

Disaster Emergency Funding Board
As expected, the Disaster Emergency Funding Board met last Thursday.  The Board, comprised of the House Speaker, Senate President, House Finance Chair, and Senate Finance Chair, has authority under Rhode Island General Law 30-15-10 to act under an emergency.
Jonathan Womer, Director of the RI Office of Management and Budget explained that the State is expected to hit a “low spot” late May in liquidity, in great part due to President Trump’s order to move the tax filing deadline from April 15th to July 15th.  This date change moves $300 million in cash that would normally come into the state funds by April, to July.  The federal stimulus package may help, but it will take a couple months to get a good handle on the contents of the package as well as the actual federal funds.
General Treasurer Seth Magaziner stated that the State attempts to keep the general fund balance at $40 million or more.  With the sudden loss of revenue from many sources due to the coronavirus, the fund balance will fall below $40 million as early as March 30th.  With approval of a $300 million line of credit, the Treasurer’s office can close on a loan in a matter of days with a variable interest rate resulting in an annualized interest rate of about 3%.  The Treasure plans to only draw down as much as the state needs, when it needs it.  This credit line does not carry a general obligation pledge which would trigger a requirement for the entire General Assembly to vote on the proposal – this line of credit carries an “appropriation pledge” which is different.
House Finance Chairman Abney made it clear, “We are not re-writing the budget. This is a cash flow issue….There is no new authority to spend – no new programs.”
Speaker Mattiello also added that in normal times, Tax Anticipation Notes would be utilized, but those notes must be paid off prior to the end of the fiscal year.  Because the income tax returns are not due until July 15th, it is very likely that the borrowed funds will not be paid off until the following fiscal year.
President Ruggerio thanked everyone for the transparency of this action and for everyone’s effort to work together.
To view the financial analysis, go to:  http://rilegislature.gov/Reports/Cash%20Flow%20Analysis.pdf

State House Activity
The State House remains closed to legislative sessions March 30 – April 3rd; the Governor ordered the State House closed to visitors until further notice.
0 Comments

RI Department of Business Regulation: Essential & NonEssential retail Businesses

3/29/2020

0 Comments

 
Rhode Island Department of Business Regulation

​In accordance with Governor Raimondo’s March 28, 2020 executive order, the Department of
Business Regulation is providing the following list of critical and non-critical retail businesses.
For questions on these guidelines, please submit your questions online to the Department of
Business Regulation using the web form available at https://dbr.ri.gov/critical/. You may also call
the Department of Business Regulation at 401-889-5550.

Critical retail businesses include:
- Food and beverage stores (e.g. supermarkets; liquor, specialty food, bodega and
convenience stores; farmers’ markets; food banks and pantries)
- Pharmacies and medical supply stores, compassion centers
- Pet supply stores
- Printing shops, mail and delivery stores and operations, office supply
- Gas stations
- Laundromats
- Electronics and telecommunications stores
- Industrial, construction, agricultural/seafood equipment and supply stores, hardware
stores, general power equipment
- Funeral homes
- Auto repair and supply
- Banks and credit unions
- Firearms stores
- Healthcare and public safety professional uniform stores
- And other stores and businesses identified as critical by the Department of Business
Regulation.

​Non-critical retail businesses include:
- Arts & crafts stores
- Florists
- Furniture stores (by appointment only)
- Car and other motor vehicle dealerships (except for auto repair and by appointment only)
- Music stores
- Billiard stores
- Sporting goods stores
- Home furnishings stores
- Lawn/garden supply stores (note that agricultural/seafood supply would be allowed to be
open)
- Book stores
- Departments stores
- Gift stores
- Beauty supply stores
- Second-hand/consignment stores
- Shoe stores
- Clothing stores
- Jewelry stores

Additional guidance:
- Restaurants and bars may continue to operate only for pickup, drive-through, and
delivery as per the Governor’s Executive Order 20-04.
- All critical retail employers are required to implement social distancing and to work from
home to the extent possible.
- Financial services offered by pawn shops and payday lenders would be allowed to
continue. In-person retail at pawn shops would be considered non-critical and closed.
- For stores that are mixed retail and service, general retail with customers coming in and
out of your store is not permitted.
- For non-critical retail stores, although in-person retail sales are not allowed, retailers may
continue to receive and ship orders made by phone or online.
0 Comments

U.S. Chamber Coronavirus EMERGENCY LOANS Checklist

3/28/2020

0 Comments

 
0 Comments

Cares Act - March 25 2020 - Tax Briefing

3/26/2020

1 Comment

 
1 Comment

Chamber Businesses status as of march 25th

3/25/2020

0 Comments

 
​We want to assure you that we take the health and well-being of our community, customers, and associates very seriously. Like you, we're closely monitoring the quickly developing effects of the Coronavirus (COVID-19) pandemic ​
We are all in this together. We will continue to monitor the COVID-19 situation and will follow guidance from public health officials and government agencies, so we can continue to support our customers and communities as needed. See below for list of businesses open!
0 Comments

March 23, 2020 COVID 19 UPDATE from SBA

3/23/2020

0 Comments

 
​SBA – Status of Availability
Answer: “The health and safety of our employees is our number one priority. SBA has deployed technology solutions to assist small businesses with any of their needs while also ensuring the safety of our staff and adhering to the CDC guidelines. ”
 
General: Economic Injury Disaster Loans
How can I get information on SBA’s disaster loan program?
Answer: Small businesses can visit our website at www.sba.gov/disaster, call us at (800) 659-2955 (TTY: 1-800-877-8339) or email disastercustomerservice@sba.gov.  Also, local district offices are having Webinar’s to cover the essentials of applying for loans.
 
When can I apply for an economic injury disaster loan?
Answer:  Now !  All of southern New England has been approved for SBA disaster loans:  Rhode Island, Connecticut, Massachusetts.  Now a business owner can access the application online at www.sba.gov/disaster.
 
How do I apply for an Economic Injury Disaster Loan?
Answer: Visit SBA at www.sba.gov/disaster and apply online using SBA’s Electronic Loan Application.
 
I have questions about the application, is there someone I can speak with to help me?
Answer: Yes. Please contact our disaster assistance customer service center at 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail disastercustomerservice@sba.gov.  or reach to your local SBA district office.
 
What documents will I need to submit my application?
Answer: Depending on a small businesses specific situation, we may need different documentation to capture the business’s information, liabilities, and other important financial information. Examples of the type of documents you may be asked for are: signed and completed SBA application form 5, an IRS Tax Authorization, copies of your most recent federal tax return, a personal financial statement and a schedule of liabilities. Some documents my not be required, EIDL applications less than $500k, they are waiving the submittal of business tax returns. 
 
How much can I borrow?
Answer: The maximum loan amount is up to $2 million. The loan amount is based on the working capital needs caused by the coronavirus so the business can meet its ongoing obligations.
 
What are the terms of the Economic Injury Disaster Loan?
Answer: The interest rate is 3.75 percent for small businesses and 2.75 percent for private nonprofit organizations with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
 
How long will it take to know if I am approved for a loan?
Answer: We are processing applications as soon as possible. Some are even processed as fast as within a few days.
 
Does SBA have any grants available to small businesses?
Answer: No. Our disaster assistance is in the form of federal low-interest, long term loans.
 
Does SBA require collateral?
Answer: It’s important to note that for the first $25,000 no collateral is required. Over $25,000 you may be required to pledge available collateral.
 
Can SBA refinance my loans or mortgages?
Answer: SBA economic injury disaster loan funds cannot be used to refinance pre-existing debt.
 
What can I use the SBA Economic Injury Disaster Loan for?
Answer: Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact.
 
Does the SBA have a seat on the federal coronavirus task force?
Answer: All federal agencies are working together in a whole-of-government approach to protect public health, including the SBA. The Agency’s major focus is to provide assistance to small businesses impacted by this health emergency with Economic Injury Disaster Loans, counseling, mentoring, and preparedness services across the country.
 
The President mentioned he wanted to limit the damage to people and our country; how is the SBA helping to limit the damage to small businesses?
Answer: The SBA is offering Economic Injury Disaster Loans of up to $2 million per small business, in addition to accessing other loan resources for working capital and offering all of our counseling, mentoring, and preparedness services across the country. Information on these resources can all be found at www.SBA.gov.
 
 
 


0 Comments

​Coronavirus Update From a Legislative Perspective

3/23/2020

0 Comments

 
​Coronavirus Update From a Legislative Perspective
Speaker Nick Mattiello and Senate President Dominick Ruggerio announced that the State House will again be closed this week.  No sessions or hearings will be held. To date, no return date has been established.  The leaders have asked their legal counsels to look into the possibility of holding virtual meetings, but that avenue is tricky given Constitutional requirements.
One option under consideration is the convening of a “Disaster emergency funding board.”  RI General Law 30-15-10 allows for such a contingency plan.  It reads:
30-15-10. Financing – Disaster emergency funding board established.

(a) It is the intent of the general assembly and declared to be the policy of the state that funds to meet disaster emergencies shall always be available.
(b) A disaster emergency funding board is hereby established, composed of the president of the senate, the speaker of the house, and the chairpersons of the senate and house finance committees.
(c) It is the legislative intent that the first recourse shall be to funds regularly appropriated to state and local agencies. If the governor finds that the demands placed upon these funds in coping with a particular disaster are unreasonably great, with the concurrence of the disaster emergency funding board, he or she may make funds available by transferring and expending moneys appropriated for other purposes or may borrow for a term not to exceed two (2) years from the United States government or any other private source.
(d) Nothing contained in this section shall be construed to limit the governor's authority to apply for, administer, and expend any grants, gifts, or payments, in aid of disaster prevention, preparedness, response, or recovery.
 
Given that backdrop, leaders are attempting to determine how best to proceed, balancing the health needs of the General Assembly members, staff and stakeholders, with the need to take action to address the economic needs of the State.  As you may have heard, the State is weeks, not months, away from running out of money to pay its bills and payroll.  The State reportedly has $203.8 million in the Rainy Day Fund and $14.8 in the Highway Trust Fund which may be tapped to assist in this crisis.
What is the Rainy Day Fund?  According to the Senate Fiscal Office FY2020 Budget report: “In 1990, the Budget Reserve and Cash Stabilization Account, or Rainy Day Fund, was created to establish a fiscal cushion for the State when actual revenues received are less than State expenditures (deficit). The account is funded by limiting annual State general revenue appropriations to a percentage (currently 97.0 percent) of available revenues. Excess funds are deposited to the Rainy Day Fund. The spending limitation, Rainy Day Fund, and disposition of excess funds are governed by provisions in the RI Constitution and General Laws.  RIGL 35-3-20 institutes a cap on the balance of the Rainy Day Fund, which gradually increased between FY2007 and FY2013. Since FY2013, the balance of the Fund has been capped at 5.0 percent of general revenues. When the limit is reached, excess funds are transferred to the Rhode Island Capital Plan (RICAP) fund for capital improvement projects.”  RI General Law (RIGL) 35-3-20 states that the general assembly may make appropriations from the reserves during the third quarter of the fiscal year when a shortfall is coming. 
 
What Can You Do to Help?  We understand that individuals and businesses are operating in unprecedented times.  Some may be able to help, others are trying to hang on and survive.  If you are able, here are some suggestions to help:
  •  Health Perspective – the State is looking for medical equipment and supplies.  The list of items needed can be found at https://rigov.wufoo.com/forms/covid-19-medical-supply-donations/  If you have any of the items, or if you can make these items, fill out the on-line forms and the Department of Health will contact you
  • Tax Payments – While the federal and state governments have delayed the tax payment deadline to July 15, 2020, if you are able to make the payment by April 15 2020, please do so.  It will assist with the cash flow difficulties faced by the State. 
  •  Business to Business – As long as Rhode Island is not under a shelter-in-place order, please consider ordering take-out from your local restaurant.  If you are holding off on a maintenance service – i.e. hair cut, massage appointment, car maintenance – consider paying in advance for the service to help these businesses with cash flow. 
  • Mental Health – Check in with family and friends, but also with business associates. 
 
 
0 Comments

The Emergency Paid Sick Leave Act

3/23/2020

0 Comments

 
The Emergency Paid Sick Leave Act
In response to the coronavirus (COVID-19) pandemic, on March 18, 2020, Congress enacted a bill providing various forms of relief, including two separate laws mandating that employers give employees paid leave for specified purposes related to COVID-19. The two leave laws are the Emergency Family and Medical Leave Expansion Act, and the Emergency Paid Sick Leave Act. The leave mandates take effect no later than 15 days after passage (April 2, 2020) and sunset on Dec. 31, 2020.
This page highlights key requirements of the Emergency Paid Sick Leave Act (the Act).
Covered Employers
The Act applies to all private employers with fewer than 500 employees, and all government employers.
Covered Employees
All employees are covered, regardless of the length of their employment with their current employer. However, employers may choose not to provide paid sick leave to employees who are health care providers or emergency responders.
Paid Sick Leave
All full-time employees, regardless of the length of time they have worked for their employer, are entitled to 80 hours of paid sick time, available for immediate use. Part-time employees are entitled to an amount of paid sick time equal to the average number of hours they work over a two-week period.
 
Paid sick time may be taken when the employee:

  1. Is subject to a federal, state or local quarantine or isolation order related to COVID-19
  2. Has been advised by a health care provider to self-quarantine due to concerns related to COVID-19
  3. Is experiencing symptoms of COVID-19 and is seeking a medical diagnosis
  4. Is caring for an individual who is subject to a federal, state or local quarantine or isolation order related to COVID-19, or who has been advised by a health care provider to self-quarantine
  5. Is caring for his or her child if the child’s school or place of care has closed, or the child’s care provider is unavailable, because of COVID-19 precautions
  6. Is experiencing another substantially similar condition specified by the Secretary of Health and Human Services (HHS)
Employers may not require employees to use other paid leave before using paid leave under the new law. The law allows for future regulations exempting businesses with fewer than 50 employees from providing leave for reason 5, above.
 
An employer may require an employee to follow reasonable notice procedures after taking leave the first time.

Compensation
Under the Act, employers must pay employees at their regular rate of pay if the employee is taking leave for a reason related to their own symptoms of COVID-19 or exposure to the illness (reasons 1-3 in the list above). Compensation for these workers is capped at $511 per day and $5,100 per month. Employees who are taking leave to care for family members (reasons 4 and 5 in the list above), and employees whose leave falls under reason 6 in the list above are only entitled to be paid at two-thirds of their regular rate.
Employer Notice Requirements
The Department of Labor is charged with making a required employer notice available within one week of the law’s passage. Employers must post the notice in conspicuous places on their premises, where notices to employees are customarily posted.
Enforcement
Employers who violate the new paid sick leave law will be subject to penalties under the federal Fair Labor Standards Act.
Tax Credit
Employers are entitled to a credit against the tax imposed by section 3111(a) or 3221(a) of the IRS Code for each calendar quarter of an amount equal to 100% of qualified sick leave wages paid. Tax credits are also available for the self-employed.


0 Comments

Chamber Member Businesses - Status as of March 20, 2020

3/18/2020

1 Comment

 
​We want to assure you that we take the health and well-being of our community, customers, and associates very seriously. Like you, we're closely monitoring the quickly developing effects of the Coronavirus (COVID-19) pandemic ​
We are all in this together. We will continue to monitor the COVID-19 situation and will follow guidance from public health officials and government agencies, so we can continue to support our customers and communities as needed. See below for list of businesses open!
1 Comment

Emergency Loans Now Available for R.I. Small Businesses

3/18/2020

0 Comments

 
Emergency Loans Now Available for R.I. Small Businesses

Yesterday the U.S. Small Business Administration approved Governor Raimondo's application for assistance and will offer low-interest federal disaster loans for working capital up to $2 million to Rhode Island small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).
 
Applicants may apply online, receive additional disaster assistance information, and download applications at: https://disasterloan.sba.gov/ela [r20.rs6.net].
 
Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. If a paper forms are preferred, they can be accessed here [r20.rs6.net].
 
If your business has questions regarding SBA loans and access to capital, please call RI Commerce's Small Business Hotline at (401) 521-HELP or e-mail info@commerceri.com. 

Free Digital Tools including Video Conferencing for R.I. Businesses
Microsoft has agreed to provide their Office 365 E1 program for free for six months to all R.I. employers.
 That includes web-based Microsoft Office applications, resources to support telecommuting such as meetings and instant messaging, as well as remote file sharing.
 This offer extends to businesses of all sizes — whether you have one employee or one thousand employees

To learn more on how to access these offerings, visit the dedicated webpage here [r20.rs6.net].
 
Other companies have also made a number of tools available:
 
·     Cisco is offering free WebEx video conferencing [r20.rs6.net] and a remote-work adoption toolkit to help guide businesses in their transition to working at home.
·     Google is offering free access to their Hangouts Meet [r20.rs6.net], another video conferencing system, for all of their GSuite and GSuite education customers.
·     Schools and school districts can contact Zoom [r20.rs6.net] and the company will lift their 40-minute meeting limit on their free basic accounts.



0 Comments
<<Previous

    Archives

    March 2023
    February 2023
    January 2023
    November 2022
    September 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    September 2021
    August 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    October 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016

    Categories

    All
    Chamber News & Updates
    Meet Our Members
    Member News & Press Releases
    Ribbon Cuttings
    Under The Dome

    RSS Feed

Copyright East Bay Chamber of Commerce. All rights reserved.
16 Cutler St., Warren, RI 02885 
Phone: (401) 245-0750  |  Fax: (401) 245-0110  | info@eastbaychamberri.org