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“The Paycheck Protection Program has been an overwhelming success and served as a historic lifeline to America’s hurting small businesses and tens of millions of workers,” said SBA Administrator Jovita Carranza.
Gov. Ned Lamont also said that talks are ongoing with “a major Connecticut company” that is expressing optimism about developing a vaccine for the virus.
The president of one Stamford company said she’d been sparring with Chase – her bank of choice for over 25 years – over her firm’s PPP loan practically since the program was announced. “They’re probably the poster child for incompetency," she said.
Approximately 1,033 patients have been hospitalized, and statewide fatalities now stand at 165, with Fairfield County accounting for 86 of those deaths.
In other developments today: The state is currently on track to end Fiscal Year 2020 with a General Fund deficit of $170 million; a new statewide organization has been formed to help Connecticut's nonprofits; and according to one model, Connecticut’s hospitals will hit peak resource use on April 16, at which time there will be a shortage of 2,167 hospital beds and a deficit of 499 ICU beds. The same model predicts 1,092 virus-related deaths here through Aug. 4.
Loans of up to $2 million are available, at interest rates of 3.75% for small businesses without credit available elsewhere and 2.75% for nonprofits.