During this unprecedented Covid 19 pandemic a number of measures have been instituted that may benefit our clients, friends, neighbors and families. Many of the measures can be accessed right now. Some measures are State specific and some are Federally backed. Below is a list of a few things that are currently available.
- Access Health CT has extended the open enrollment period for any Connecticut resident who does not have health insurance. You can access their website at https://www.accesshealthct.com/AHCT/LandingPageCTHIX or call them at 1-855-365-2428
- The State of Connecticut has worked with 9 of the 10 largest automobile insurance companies to apply a premium credit or rebate to all Connecticut drivers due to reduced driving during the Coronavirus pandemic. No action is need by consumers. The insurance companies will automatically apply the rebates or credit.
- All federally backed mortgages (Fanny Mae, Freddy Mac, FHA, VA, etc.) are eligible for up to a 180 day payment deferment. This time line may be extended further in the future. Contact your lender to learn more.
- Many Connecticut banks are offering small business mortgage relief if businesses are having trouble making their payments due to the Covid 19 pandemic. Contact your bank to discuss the options.
- Businesses are eligible for a 100% refundable payroll tax credit for up to 80 hours of paid sick time for any employee that is dealing with Coronavirus related illness.
- Anyone that had a Small Business Express loan before the Covid 19 pandemic is eligible for a three month payment deferment on those loans.
- Commercial landlords can contact their banks or credit unions to discuss mortgage relief on an individual basis.
- Connecticut Small Business Bridge Loans are still being processed with the hope that money will be disbursed by the end of April. There is talk of opening up another round of Bridge Loans in the near future.
- PPP loans are starting to be accepted, processed and closed. Small local banks seem to be moving faster than the large national banks. The PPP application is available at https://www.sba.gov/sites/default/files/2020-04/PPP%20Borrower%20Application%20Form.pdf
- EIDL loans are also still available and there has been discussion of increasing the available funds for these loans. More information and an application can be found at https://www.sba.gov/funding-programs/disaster-assistance
- Further information about the resources available here in Connecticut and about what the State is doing to combat Covid 19 can be found at https://portal.ct.gov/coronavirus
We hope you all stay safe and healthy during these unpredictable times. Hopefully some of these resources will help you and your family get through this Covid 19 pandemic.