Wednesday May 5, 2021
SBA Breaking News Update: PPP General Funding Exhausted, CFI Funding Still Available
Today, the U.S. Small Business Administration (SBA) made the following announcement:

"After more than a year of operation and serving more than eight million small businesses, funding for the bi-partisan Paycheck Protection Program has been exhausted. The SBA will continue funding outstanding approved PPP applications, but new qualifying applications will only be funded through Community Financial Institutions, financial lenders who serve underserved communities. The SBA is committed to delivering economic aid through the many COVID relief programs it is currently administering and beyond."

Per the Economic Aid Act, a Community Financial Institution (CFI) is one of the following types of lenders.
  • Community Development Financial Institution (CDFI)
  • Minority Depository Institution (MDI)
  • SBA Certified Development Corporation (CDC)
  • SBA Microloan Intermediary Lender

Understanding how vital this program has been and continues to be for countless North Country businesses, the Chamber is already in conversation with our federal elected officials about the need for additional PPP funding. 
CBP Reopening Small vessel Reporting Station at Rouses Point for Commercial Importations Only
The North Country Chamber of Commerce was pleased to reach out to U.S. Customs & Border Protection recently on behalf of our Lake Champlain marinas to encourage and support this accommodation for commercial boat entries. While this does not open the border to recreational boaters coming down, it will create some welcome business activity for some of our marinas who will be part of the activity. CBP has indicated it will be open to the possible addition of hours of service in response to demand, which is expected to be substantial. We thank our partners at CBP in Champlain for their responsiveness.
Today's Dose is Generously Supported By:
QUICK LINKS:
  • NYS Vaccination Updates: Official Site for making an appointment to get the COVID-19 Vaccine.
  • Forward NY: Official State Website for opening procedures and guidelines.
  • NYS Travel Advisory: Stay up to date on the latest NYS Travel Advisory Updates.
  • Looking for Supplies: If your business is looking for hard to find protective products, we have created a list of businesses offering hand sanitizer, gloves, wipes, masks and other items.
  • SCORE: Small business owners are resilient and can power through this challenging time, with SCORE by their side.
Have Questions? We're here to help!

North Country Chamber of Commerce
518.563.1000