- Stay Positive – “Once you replace negative thoughts with positive ones, you’ll start having positive results,” Willie Nelson
- New At The Chamber – Submit Your Promotion – Have a Promotion? – Click Here To Submit It
- News – New Stats on second round of PPP funding: New Stats on second round of PPP funding: PPP loans continue to fund at a rapid pace, as of 5/1 $175B of $300B have been allocated to new borrowers. The SBA has released new statistics from 4/27 to 5/1 on what loans have been funded. Clearly the goal of getting more money to small businesses have been achieved when comparing to prior statistics. Here are some observations Courtesy of Withum:
- Average loan size of the second tranche of funds is $79k vs $206k in the first tranche.
- California again is the leading recipient of funds with $33B
- 70% of loans issued were for less than $50k while only 1% were for loan amounts above $1M
- Three banks issued 9.8% of all approved loans.
- Resource – Employers Required to Provide Notices Under New FFCRA: The U.S. Department of Labor (DOL’s) Wage and Hour Division has published two workplace posters that employers can use to fulfill their obligations to provide employees with a notice of their rights under these two statutes…Click Here For More Information
- Virtual Program – NJ Tourism State of the Industry: Please join Secretary of State Tahesha Way and New Jersey Division of Travel & Tourism Executive Director Jeffrey Vasser to hear updates from the state as we celebrate National Travel & Tourism Week. Tourism Economics Director of Impact Studies Chris Pike will be present to share 2019 tourism arrivals data, as well as representatives from Lou Hammond Group and Dana Communications, who will share current trends from the media and discuss marketing activities as we look ahead to welcoming back travelers, Tomorrow, 11 AM, Thursday, May 7th…Click Here To Register
- Support a Local Business – Support Our Local Restaurants – The Chamber’s Local Member Listing of Restaurants…Click Here For Details
- Donate – Elijah’s Promise: Will You Help Fill Our Freezer?… Click Here To Donate
- Question of the Week: What did you learn today and how will you use it?
What Our Members Are Saying About The Daily Update?
““With all of the uncertainty in this world right now, information that is timely, correct and simple to understand is greatly appreciated and in my eyes a lifeline for small businesses. Since the pandemic began, Craig Schlosser and the Team at the Chamber have been providing a daily newsletter that has offered so much guidance and direction that we are so grateful for. We currently opened up 2 new businesses in the past 6 months and were just getting started when this pandemic hit and closed us down. The wonderful team at the Chamber kept in close contact and I received an email from Kathy, Lina and Craig checking in on me from time to time. Thanks to Craig’s phone calls and referrals, I connected with Tina from Investors Bank, (another Chamber member) and she helped me to apply and receive my PPP loan to get me through this tough period. I cannot express my gratitude for their support, friendship, and empathy these past 8 weeks. I am honored to be a Chamber member and highly recommend utilizing your membership and participating in any and all events that are relevant to you and your business to receive the maximum benefit for your time, investment and organization.”
Jon Gallo, Owner, Now I’m Fit Health & Wellness Center