Post by Ocean City, NJ
on March 18, 2021
Summer work exchange programs vital for seasonal tourism’s recovery, by Cape chambers of commerce
Many of the businesses in Cape May County depend on the Summer Work Travel (SWT) exchange programs and could not operate without them. We live in an area with a high percentage of seasonal businesses and the available American workforce in the area is not sufficient to provide all of the local businesses with the staff that they need during the busiest times. The SWT program helps the businesses in the community keep their doors open and serve more Americans during the peak tourist season.
As we come out of the pandemic and are given the thumbs up to increasingly open up our economies, we need to ensure that local businesses can operate to the capacity they are... Read More
Post by Ocean City, NJ
on March 4, 2021
Today's News for New Jersey Business:
New rules for self-employed and sole proprietors applying for Paycheck Protection loans. Restrictions are loosened for weddings and summer camps.
Breaking News – New rules have been released for self-employed and sole proprietors applying for loans under the federal Paycheck Protection Program. For these small businesses, it will mean larger forgivable loan amounts going forward. Here's what you need to know. (CNBC)
Information on Applying for PPP Loans – Guidance and details on forgivable business loans under the Paycheck Protection Program can be found here. (U.S. Small Business Administration)
Restrictions are Loosened on Weddings and Summer Camps – Wedding receptions can proceed at 35% of a venue’s indoor capacity, up to 150 persons, Gov. Phil Murphy announced Wednesday. Outdoor weddings may have up to 150 people. Murphy... Read More
Post by Ocean City, NJ
on February 24, 2021
Expanded Capacity for Sports, Entertainment Venues, and Religious Events
Effective March 1st at 6 a.m., large venues, including sports and entertainment venues, with a fixed seating capacity of 5,000 or more are permitted to host events at 10% capacity indoors and 15% capacity outdoors. High school and collegiate sports events can now have up to 2 parents or guardians attend per athlete, but may not exceed 35% of a room’s capacity. Houses of worship and religious services can now operate at 50% capacity. Read more on expanded capacity on business.nj.gov.
PPP Loans Now Open to Businesses Under 20 Employees
Beginning Wednesday, February 24th, small businesses with fewer than 20 employees will have 14 days of exclusive access to the Payment Protection Program application. If you receive a loan, it may be fully forgiven if all... Read More
Post by Ocean City, NJ
on February 3, 2021
Today's News for New Jersey Business:
Gov. Murphy said he will relax restrictions on restaurants starting Friday. Limits on many public gatherings will also be relaxed, including in gyms and entertainment venues. Paycheck Protection Program loans keep flowing.
Breaking News: Gov. Murphy to Relax Restrictions on Restaurants Starting Friday – Gov. Phil Murphy announced this morning that he will sign an executive order that will relax dining capacity restrictions for restaurants and lift the post-10 p.m. indoor dining ban. The move comes days before the Super Bowl, typically a booming business day for restaurants and bars. Beginning Friday, at 6 a.m., indoor dining capacity will increase to 35%, up from 25% of maximum capacity. (nj.com)
Limits for Many Public Indoor Gatherings Will Also be Relaxed, including at Gyms and Entertainment Venues –... Read More
Post by Ocean City, NJ
on January 15, 2021
SBA Re-Opening Paycheck Protection Program to All Eligible Lenders
The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, will re-open the Paycheck Protection Program (PPP) loan portal to PPP-eligible lenders with $1 billion or less in assets for First and Second Draw applications on Friday, January 15 at 9 a.m. EST. The portal will fully open on Tuesday, January 19 to all participating PPP lenders to submit First and Second Draw loan applications to SBA.
Earlier in the week, SBA granted dedicated PPP access to Community Financial Institutions (CFIs) which include Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), Certified Development Companies (CDCs), and Microloan Intermediaries as part of the agency’s ongoing efforts to reach underserved and minority small businesses.
On Friday, SBA will continue its emphasis on reaching smaller lenders and businesses... Read More
Post by Ocean City, NJ
on January 13, 2021
Dear Chamber Members,
Please help our restaurants by emailing Governor Murphy through the link below encouraging him to sign legislation to allow restaurants to continue outdoor dining.
The NJ Restaurant and Hospitality Association has been working on this bill with the sponsors and the Governor’s office since last Monday when the governor vetoed the original bill.
Thanks to over 6000 connections, yesterday, the assembly and the senate unanimously passed A-5246/ S-3340 to replace bill A-4525 that will allow for the continuation of outdoor dining until November 31, 2022.
This legislation will not only give restaurants the ability to continue to offer outdoor dining but will also allow them to plan for the future, something that restaurants have not been able to do since the pandemic began.
YOUR HELP IS NEEDED. Please email governor Murphy using... Read More
Post by Ocean City, NJ
on January 11, 2021
Legislation Signed to Reduce Unemployment Insurance Payroll Tax
New legislation will reduce the amount of an employer’s unemployment taxes through Fiscal Year 2023 in an effort to continue supporting small businesses impacted by the COVID-19 pandemic.
Learn More... Read More
Post by Ocean City, NJ
on January 11, 2021
Minimum Wage to Rise to $12/Hour for Most Employees Goes into Effect
The New Jersey minimum hourly wage increase announced in September 2020 went into effect on January 1, 2021. The change brings the minimum wage for most employees up from $11 to $12, from $10.30 to $11.10 for seasonal and small business employees, and from $10.30 to $10.44 for agricultural employees. The Department of Labor & Workforce Development outlines the changes in this chart.
Read More... Read More
Post by Ocean City, NJ
on January 11, 2021
The PPP for first time applicants opens today, and the 2nd draw loan program starts on Wednesday. For more information, please see the below press release that came out on Friday, as well as these summary documents:
Top-line Overview of First Draw PPP (1.8.2021)-508
Top-line Overview of Second Draw PPP (1.8.2021)-508
The SBA website has also been update, so you can view all things PPP by visiting www.sba.gov/ppp.
SBA and Treasury Announce PPP Re-Opening; Issue New Guidance
WASHINGTON – The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced today that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11,... Read More
Blog
