RIP PPP

It’s not possible to overstate how essential the Paycheck Protection Program was to so many of our businesses and nonprofits.

 

But this week -- four weeks before the program was scheduled to end -- the SBA announced that the program has run out of funds.

 

Since its creation last spring, the program disbursed $780 billion in forgivable loans to fund 10.7 million applications.

 

About $8 billion is still available through a set-aside for community financial institutions, which generally focus on lending to businesses run by women, minorities and other underserved communities, notes Andy Medici for the BBJ.

 

But other than that, the PPP is on E. 

 

I feel this deserves a moment of silence. Seriously.

 

The program's execution and ever-changing guidance was, too often, infuriating. But there are many businesses and nonprofits in our communities -- and across the nation -- that might not exist today without it. 
 

 

 

Responding to worries about proposed retail gun shop in Newton, Wellesley is now considering a zoning bylaw would prohibit the manufacture, sale, or lease of any guns there.

 

Wellesley’s rules would be more restrictive than those being considered in Newton, which is presently only considering regulating where a retail gun shop could be located (Wicked Local).

 

That’s not because Newton officials support the proposed gun shop on Washington Street. They don’t. The mayor and the full council are reportedly all opposed.

 

But Newton’s City Solicitor Alissa Giuliani believes any outright gun retailer ban would be deemed unconstitutional. Instead, Giuliani is recommending enacting zoning rules that would limit where dealers can locate. (The law department has prepared this FAQ.)

 

A virtual public hearing in Newton will take place Monday (May 10) at 7 p.m. (link not yet available). Wellesley’s meeting is on June 7.
 

 

 

Many pharmacies and other sites across the state are now providing vaccines without requiring an appointment. 

 

Starting Monday, it will also be possible to get a vaccine without an appointment at six of the state's mass vaccination sites, including the Natick Mall and Hynes Convention Center.

 

The state’s vaxfinder.mass.gov website shows tens of thousands of first-dose appointments available through next week at mass vax sites, pharmacies, community centers and elsewhere (Boston.com).

 

 

The Wall Street Journal explores the next generation of vaccines in development could come as a pill or a nasal spray and be easier to store and transport than the current shots in the arm.

 

 

 

In most instances, news that MBTA wants to restore full weekend rail service in your community would be seen as good news. 

 

But is that the case in Needham, where some residents have long complained about horns and other train noise running through town?

 

We may find out Tuesday (May 11) at 6 p.m. when the Select Board holds a virtual public hearing on expanding service in Needham.  

 

Read about the T's two proposed Needham options here. 

 

 

 

The Davis Companies is partnering with Boston Development Group (both chamber members, naturally) to co-develop that already-approved life science campus on Galen Street in Watertown. (Boston Real Estate Times)

 

Ground breaking begins this month on the first phase of the project which will ultimately include more than 450,000 square feet of research and lab space in two buildings. (Wicked Local )

 

 

There’s still no resolution to whether or not your business or nonprofit will get help covering those jaw-dropping unemployment insurance bills that are due June 1.

 

The shocking increases -- known as the solvency assessments -- jumped from a rate of 0.58 percent in 2020 to 9.23 percent in 2021, stunning many.

 

One Needham small business owner told me this week his solvency assessment leapt from $640 last year to $32,955 this year.

 

“This is very extreme, an extreme burden, and very painful to my business and employees,” he said. 

 

Undersecretary of Labor Mike Doheny said yesterday that the Baker administration was "looking to be able to propose a solution to this very, very shortly," reports Katie Lannan at State House News.

 

The state hopes to use federal stimulus dollars to help cover all or some of the increase. But guidance on if that money can be spent for this purpose is not expected until mid-May.

 

Last month, the state delayed the due date Q1 UI payments from April 30 to June 1. In a meeting with business leaders two weeks ago an administration official said the due date could be pushed again, if needed.

 

 

 

Your circle of friends at the chamber has just expanded.

 

Please join us in welcoming Tracey Antaya, the chamber’s new membership outreach coordinator who will be helping us recruit, engage and retain members.

 

We’ve already added nearly 100 new members this year, thanks in large part to our expansion into Wellesley. Tracey is joining our rock star team to help us build on that trend, while making sure we’re providing the high level of member services you deserve.

 

After all, membership is what makes everything we do – our events, our programs, our shop local campaigns, our advocacy and even this newsletter – possible.

 

And we didn’t have to look far to find someone to join our team.

 

A marketing communications professional with government, human services, nonprofit and professional business experience, she’s a Needham High grad and life-long area resident who's been part of our chamber core of volunteers for years.

 

Connect with Tracey at tantaya@nnchamber.com or 617-244-5300 ext. 1006.

 
 

 

Please join us in welcoming our April’s new (or returning after an absence) chamber members.

 

 

Add your business to May’s new member list here.

 

That’s your Need To Knows for today. Gratitude to nurses everywhere! See you tomorrow.

 

617-244-1688

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