Chamber Connection - East Bay Chamber of Commerce

SBA Offers Economic Assistance to Rhode Island Small Businesses Affected by the Washington Bridge Closure

12/20/2023

SBA Offers Economic Assistance to Rhode Island Small Businesses Affected by the Washington Bridge Closure
The attached release was issued to the media yesterday. To assist us with the widest distribution of this information as possible, please share our release with your contacts as appropriate and post to your social media.

WASHINGTON – Today, SBA Administrator Isabel Casillas Guzman announced that Rhode Island small businesses affected by the road closure due sudden bridge failure in Providence County on Dec. 11, 2023, and continuing may apply for low-interest, long-term Economic Injury Disaster Loans from the U.S. Small Business Administration.
Administrator Guzman made the loans available in response to a letter from Governor Daniel McKee on Dec. 14, 2023, requesting a disaster declaration by the SBA. The declaration covers Providence County and the adjacent counties of Bristol and Kent in Rhode Island, Windham in Connecticut, and Bristol, Norfolk and Worcester in Massachusetts, and applies to small businesses, small agricultural cooperatives, small aquaculture businesses and private nonprofit organizations. Eligible applicants in the declared area can now apply for low-interest, long-term Economic Injury Disaster Loans (EIDLs) from the SBA to cover working capital needs as the community recovers.

Regards,
Mary S. Gipson
Public Affairs Specialist
Field Operations Center - East
U.S. Small Business Administration
Office of Disaster Recovery & Resilience
101 Marietta St. NW, Suite 700
Atlanta, GA 30303
Office: 404-331-0333
[email protected]

Renewable Energy Fund (REF) in Rhode Island

12/19/2023

The Renewable Energy Fund, more commonly known as the REF incentive is a Rhode Island solar rebate program run by the RI Commerce Corporation that offers grant money to home and business owners who install solar panels. It is a grant program that lowers the upfront cost of your solar panel system. Not all properties are eligible for the incentive so it is important to work with a qualified installer.
What is the amount from the REF grant?The incentive value is a maximum of $5,000 for homeowners and $75,000 for commercial projects. The value of the REF grant is determined by the size of your solar system.
Read more.. https://isaksensolar.com/renewable-energy-fund-ref-in-rhode-

December 15th, 2023

12/15/2023

IT Security Tip : Ever lost hours of your work because your computer reset?

Ever lost hours of your work because your computer reset?
You’ve been working on your document or spreadsheet for the last 3 hours, you’ve been in the flow and its some of you best work then BAM! The computer reboots.
Frantically you try and recover the last 3 hours of your life but, nope, it’s gone. “Why didn’t I remember to save it!?”
Thankfully this is a thing of the past now. With Microsoft 365 and OneDrive for Business your documents are set to autosave be default and are synced into the Microsoft cloud and available across your devices.
We want to make sure you’re using Microsoft 365 to its fullest, let me know if we can schedule a call to discuss if and how you’re using it now. You can call me at 401-216-6425 or via email at [email protected].

Updates On I-195 Washington Bridge Closure

12/15/2023

Updates On I-195 Washington Bridge Closure
RIDOT OPENS I-195 WEST BYPASS LANES

The Rhode Island Department of Transportation (RIDOT) early this morning opened two bypass lanes for I-195 West traffic from East Providence to Providence. This temporary traffic pattern will allow two lanes of travel westbound and two lanes of travel eastbound – all operating on the eastbound Washington Bridge.
RIDOT will reopen most ramps that had been closed. However, the Gano Street off-ramp (Exit 1D) will remain closed as will the on-ramps to I-195 West from Veterans Memorial Parkway and Taunton Avenue. RIDOT will continue to maintain passage on the westbound bridge for emergency vehicles only.
With the bypass lane open, RIDOT expects it will help alleviate congestion but there will still be delays. Motorists may continue to find one detour route or the other more effective for them. As traffic becomes accustomed to the change with the bypass lanes open, RIDOT expects congestion levels to even out and create more predictable traffic flow and travel times.
RIDOT has posted estimated travel times for each detour route on the Washington Bridge closure page at www.ridot.net/WashingtonBridgeClosure and will update this information continuously.
The following recommended detours and alternate routes may be used:
Local traffic in East Providence: Use the Henderson Bridge and rejoin I-195 West at Gano Street.
Southeast Massachusetts west of Fall River, MA: Take Massachusetts Exit 1 and follow Route 114A to Route 44 West. Follow onto Route 114 (Pawtucket Avenue) or Route 1A (Newport Avenue) to I-95. This is the preferred routes for trucks.
Southeast Massachusetts east of Fall River, MA (including traffic coming from Cape Cod and the New Bedford Area): Take Massachusetts Exit 14B to Route 24 North. Follow to I-495 North to I-95.
The Washington Bridge carries 96,000 vehicles daily.

Here’s What We Know About the Washington Bridge Closure:

12/14/2023

Elizabeth M. Tanner
Secretary of Commerce

🚧

Update on the Washington Bridge Closure

from Commerce Secretary Liz Tanner

Here’s What We Know About the Washington Bridge Closure:

The Rhode Island Department of Transportation (RIDOT) has closed the westbound side of the Washington Bridge due to the finding of a critical failure of some bridge components.

Reconstruction work is being conducted 24/7. Significant progress has been made to get two lanes open on the eastbound side of the bridge, with the goal of opening the bypass for use starting this weekend.

For now, a single lane is open for emergency vehicles only, and detours are in place.

Commerce is in regular communication with state agencies and impacted businesses.

We Want to Hear From Your Businesses:

At Commerce, we've mobilized an emergency response team to deal with businesses impacted by the Washington Bridge closure.

https://commerceri.com/emergency-assistance

We ask that you share the link above AND that your impacted businesses fill out our assistance form so we can understand how the Washington Bridge lane closures are impacting business operations, and respond accordingly.

Next Steps:

We will be in touch with any new information we receive. We will schedule a follow up call with chambers and trade organizations as soon as we have more information to share.

In the meantime, if your businesses have any questions regarding the bridge closure, please encourage them to reach out to us by using our website intake form or by calling (401) 521 - HELP.

For more information from the Rhode Island Department of Transportation, including suggested detours, and real time updates, click here.

Rhode Island Commerce | 315 Iron Horse Way Suite 101, Providence RI
(401) 521-9100 | commerceri.com

IT Security Tip : Are My Personal Credentials Already On The Dark Web?...Probably.

12/8/2023

IT Security Tip : Are My Personal Credentials Already On The Dark Web...Probably.

Okay, its homework time! WAIT don’t leave just yet. Do yourself a favor and take 30-seconds and go to http://haveibeenpwned.com/ and put in your personal and business emails. The results will likely shock you, don’t worry I’ll wait.
Scary huh?
I’m no different than anyone else, my credentials have been found and available many times. With more and more of our personal and business life being conducted digitally more people have access to store our situation, some are better stewards than others cough Equifax cough
It was recently revealed that every Fortune 500 company has been hacked. That’s a scary thought but here’s the “good” news.
Hackers are a business just like we are, if the cost to get the data is more than the data is worth than they’ll move on, they have costs to control just like we do.
Small business cybersecurity should be focused for value out of every dollar to make sure your company isn’t low-hanging fruit. Making sure you don’t have easily found credentials is one of the easiest first steps.

Cybercrime is at an all-time high, and hackers are setting their sights on small and medium businesses who are “low hanging fruit.” Don’t be their next victim! To download this free report that reveals the most common ways that hackers get in and how to protect yourself today go to www.packetlogix.com

BankNewport Named Top SBA 504 Third-Party Lender in Rhode Island for Sixth Consecutive YearFiscal Year 2023 Title is BankNewport’s 12th in 13 Years

12/8/2023

BankNewport Named Top SBA 504 Third-Party Lender in Rhode Island for Sixth Consecutive Year
Fiscal Year 2023 Title is BankNewport’s 12th in 13 Years

NEWPORT, R.I. (December 8, 2023) – BankNewport was recently recognized by the U.S. Small Business Administration’s Rhode Island district office as the top 504 Third Party Lender of the Year for Fiscal Year 2023. BankNewport has earned this distinction for six consecutive years, and 12 of the last 13 years.

"BankNewport's legacy of over two centuries in Rhode Island is rooted in a steadfast commitment to meeting our clients’ diverse banking needs,” said Jeanne Lapak, Executive Vice President and Chief Commercial Banking & Lending Officer, BankNewport “This recognition underscores our dedication to serving a broad clientele, especially within the vibrant small business community. Receiving this award is a testament to our expertise in SBA lending, empowering small enterprises across the state to flourish."

BankNewport ranked number one among all banks in Rhode Island in the number of loans originated through the U.S. Small Business Administration’s 504 loan program during the federal fiscal year that ended September 30, 2023. BankNewport originated eight total SBA 504 loans totaling over $5,980,000 for small businesses. The SBA 504 program provides up to 90 percent financing for the purchase of long-term fixed assets, such as commercial real estate, buildings, and equipment.

“BankNewport’s steadfast commitment to serving local small businesses is one of many reasons they are such a valued partner in this state,” said SBA District Director Mark S. Hayward. “Being the leading lender in the SBA’s 504 loan program for 6 straight years is proof that Jeanne Lapak and her team will do whatever they can to help business owners gain access to the funding they need to succeed. We are once again pleased to name them the 504 Third Party Lender of the Year for FY 2023.”

Photo Caption:
Front Row (left to right)
Denise DiDonato, Vice President/Credit Administration Manager/BankNewport
Mark Hayward, SBA District Director
Pamela LaBreche, Vice President, Business and Commercial Lending Officer/BankNewport
Cheryl Bonvegna, Small Business Lending Underwriter/BankNewport

Back Row (left to right)
George Duarte, Senior Vice President/Director of Business Banking/BankNewport
Jeanne Lapak, Executive Vice President/Chief Commercial Banking & Lending Officer/BankNewport
Tony Brum, Vice President/Commercial Loan Officer/BankNewport
Adam Duclos, Vice President/Business and Commercial Lending Officer/BankNewport
Marc Scanapieco, Vice President/Business and Commercial Lending Officer/BankNewport

About BankNewport:
Founded in 1819 and headquartered in Newport, BankNewport offers a full suite of loan and deposit products and services for families and businesses throughout Rhode Island. BankNewport is one of the longest-standing community banks in the United States and, as a mutual organization, is committed to the financial success of its customers, employees, and communities. BankNewport has 19 branch locations and a commercial lending office in Providence. OceanPoint Marine Lending, a business line of BankNewport, specializes in consumer marine and recreational vehicle financing programs.

Through its All In Giving program, BankNewport is committed to supporting nonprofits with areas of impact focused on basic human needs, children and families, education, economic security, healthy lives, arts and culture, and the environment. BankNewport has awarded over $8 million in grants, sponsorships, and donations over the past ten years to a wide range of nonprofits to help strengthen and enrich lives and communities throughout Rhode Island. Financial education and community service performed by employees totals 8,500 hours annually. For more information, please visit www.BankNewport.com.

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BankNewport Celebrates Ranking As One of the Nation’s Best Banks to Work For

12/7/2023

BankNewport Celebrates Ranking As One of the Nation’s Best Banks to Work For

NEWPORT, RI - (December 7, 2023) – BankNewport was today named one of the 2023 Best Banks to Work For by American Banker magazine as part of its annual list organized by the Best Companies Group to identify banks that excel at creating positive and supportive workplaces for employees. On the 2023 list, BankNewport was ranked No. 20. The survey and awards program is designed to identify and honor banks with the best cultures for helping employees thrive. “The banks recognized on this list are trying hard to create workplaces that employees want to join,” said Chana R. Schoenberger, Editor-in-Chief of American Banker. “Especially during this moment when companies are experiencing a shift in how, where, and how much employees work, banks are paying attention to how they can best retain their people.” “Being a community bank means understanding what makes our community and the people within it unique,” said Jack Murphy, president and CEO. “It means recognizing what your community’s needs are and identifying ways we can help. Murphy continued, “I am extremely proud of our BankNewport employees. They are guided every day by our Core Values: we CELEBRATE individuality, we EMPOWER creative problem solving, we INVEST the time to know our customers and communities and we COMMIT to serving the financial needs of Rhode Islanders.” This year 90 banks earned a spot in the ranking of Best Banks to Work For, based on an anonymous employee survey and a thorough review of the benefits and perks offered. The full 2023 Best Banks to Work For list will be featured at www.americanbanker.com. Determining the Best Banks to Work For involved a two-step process. The first consisted of evaluating each participating bank’s workplace policies, practices, and demographics. This part of the process was worth approximately 25% of the total evaluation. The second consisted of employee surveys aimed at assessing the experiences and attitudes of individual employees with respect to their workplace. This part of the process was worth approximately 75% of the total evaluation. The combined scores determined the final ranking. To be considered for participation, banks had to have at least 50 employees working in the U.S. and been in business for a minimum of one year. Best Companies Group managed the registration and survey process and also analyzed the data to determine the final ranking. For more information on the Best Banks to Work For program, visit www.BestBankstoWorkfor.com. About BankNewport: Founded in 1819 and headquartered in Newport, BankNewport offers a full suite of loan and deposit products and services for families and businesses throughout Rhode Island. BankNewport is one of the longest-standing community banks in the United States and, as a mutual organization, is committed to the financial success of its customers, employees, and communities. BankNewport has 19 branch locations and a commercial lending office in Providence. OceanPoint Marine Lending, a business line of BankNewport, specializes in consumer marine and recreational vehicle financing programs. Through its All In Giving program, BankNewport is committed to supporting nonprofits with areas of impact focused on basic human needs, children and families, education, economic security, healthy lives, arts and culture, and the environment. BankNewport has awarded over $8 million in grants, sponsorships, and donations over the past ten years to a wide range of nonprofits to help strengthen and enrich lives and communities throughout Rhode Island. Financial education and community service performed by employees totals 8,500 hours annually. For more information, please visit www.BankNewport.com.
About American Banker: American Banker empowers banking professionals with unique analysis and insight into the ideas transforming their business and industry. Across its journalism, events, research and benchmarking, it helps drive the way forward through the complexity of business innovation, retail and commercial disruption, technology, regulation and reform. With a banking community 850M strong, American Banker’s content connects leaders online, in person and in print every day. About Best Companies Group: Since 2004, Best Companies Group has specialized in identifying and recognizing great employers to work for. We are an independent research firm that ranks companies based on our established research methodology. Our surveys provide actionable, hard-to-obtain data that companies use to improve employee recruitment and retention. ###

IT Security Tip : I find lack of Tests Disturbing

12/4/2023

IT Security Tip : I find lack of Tests Disturbing

Test your Backup.
Test your Security.
Test your employees.
If you don't test, how can you know?

If a thing isn't written down, it may as well have not happened.
Your business should have reports detailing your system's health, the backup health, and how well things went last time the BDR plan was tested.

If you find your company's documentation at a loss, you should reach out to your IT professional and ask.

Bitrot, faulty planning, a lack of coffee - these are all things you can find through testing and reporting.

Cybercrime is at an all-time high, and hackers are setting their sights on small and medium businesses that are “low-hanging fruit.” Don’t be their next victim! To download this free report that reveals the most common ways that hackers get in and how to protect yourself today go to www.packetlogix.com