July 2020 • Volume 16 • Issue 7
NEW MEMBERS CORPORATE
City National Bank
68 S. Service Road, Suite 100 Melville, NY 11747 cnb.com Los Angeles-based City National Bank offers a full complement of banking, trust and investment services through 72 offices, including 19 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville, Atlanta, Minne-
PPP UPDATES CONTINUED FROM PAGE 8
“A company that might have been ineligible in early April could be eligible in May or June,” he said. Asset Enhancement Solutions provides not just consulting services, but also functions as an agent for a number of different lenders and a “trouble-shooter,” Seiden said. While lenders and agents are not prohibited from charging applicants a fee for accepting and processing PPP loans, and lenders get a processing fee from the U.S. Small Business Administration (SBA), the Long Island-based firm does not charge for many of its PPP-related services. “We discussed it as a team, and we unanimously decided that it was our obligation to help businesses,” Seiden said. “It’s our way of giving back to the business community and the community at large.” Last week, Congress passed the Paycheck Protection Program Flexibility Act to provide more help to small businesses and nonprofits that apply. According to Seiden, the new law changes the cover period of the loan from eight weeks to 24 weeks, ending on December 31. Initially, businesses that receive a PPP loan had to use 75 percent of the funds for payroll purposes. The new law lowers that amount to 60 percent, which allows businesses to use the funds on other expenses like rent, lease payments and interest. Any part of the loan that is not forgiven will now be paid back over a five-year period, instead of a two-year period. That lowers the monthly payment for applicants. Seiden said the flexibility will eventually allow companies to convert close to 100 percent of the loan into a grant that will be forgiven. “It’s really a win-win for companies,” he said. “It’s a way to get some free money to keep them afloat until things get back to normal.”
apolis, Washington, D.C. and Miami. Its 5,300 colleagues deliver highly personal service and complete financial solutions to entrepreneurs, professionals, their businesses and their families.
Holt Construction
50 E. Washington Avenue Pearl River, NY 10965 holtcc.com Founded in 1919, Holt Construction is celebrating 100 years in business with our 3rd generation of Holt family leadership. Holt thrives on its reputation as a quality construction company that maintains its core values and “family” atmosphere while providing the best services to our clients.
Horticultural Creations, Inc.
2 Gold Street, 2nd Floor New York, NY 10038 hcinc.org Proudly servicing New York City ’s largest corporations and finest hotels, HC long ago flourished from being the small family business we started as almost 40 years ago, leading the industry with our ground-breaking design and technology. Over the years what we at HC, have never outgrown is the original promise made back in 1976, to provide the finest quality product and unparalleled customer service to each and every client. To this day Steve and Harold still oversee every account, from initial design to final installation.
Pi Capital Partners
136-18 39th Avenue, 12th Floor Flushing, NY 11354 picapitalpartners.com Pi Capital Partners is a real estate investment and development firm located in New York City. The firm develops and manages over 40 properties and over 800 apartments, offices, and retail units. Pi Capital is privately and independently owned with no equity partners and no outside investors.
Securitech Group, Inc.
54-60 46th Street Maspeth, NY 11378 securitech.com Renowned for multi-point locking and the best deadbolt locks, Securitech prides itself as America’s leading “Go-To” high-security door hardware manufacturer. From schools and behavioral healthcare facilities to worldwide retailers, government institutions, and infrastructure, Securitech’s proven lock security solutions provide for a unique niche in various industries and markets
Soter Technologies, Inc.
113 Comac Street Ronkonkoma, NY 11779 sotertechnologies.com The Soter name is inspired by Greek mythology wherein Soter is the personification of safety, deliverance and preservation from harm. Using advanced sensor and software technology, Soter Technologies develops and delivers innovative solutions for environmental and social intelligence – to make the world a safer place.
Sterling Sanitary Supply Corp.
32-32 57th Street Woodside, NY 11377 sterlingsanitarysupply.com Sterling Sanitary Supply Corp. is a respected pioneer in the environmentally friendly, green cleaning industry. We are dedicated to further developing environmentally responsible solutions which do not sacrifice performance. Sterling Sanitary Supply Corporation has been serving the needs of its customers for over 65 years. Sterling operates state-of-the-art distribution centers in Woodside, NY and Farmingdale, NY.
INTRODUCTORY
Enlightened Energy Consultants, LLC 655 Meadow Court, Unit #15 Southhold, NY 11971
Imago.ai Limited
17890 Castleton Street, Suite 115 City of Industry, CA 91748 join.sesameeat.com
Journey to
116-35 225th Cambria Height, NY 11414
Moxie Group
197 Manorhaven Blvd., Rear Port Washington, NY 11050
Shiftyy Technologies, Inc. 3503 29th Street, 6G Astoria, NY 11106 shiftyyHealth.com
Sats Trucking and Courier, Inc. 115-44 125th Street South Ozone Park, NY 11420 satsservice.com
Venture Promotions & Marketing Corp. 157-51 11th Avenue Whitestone, NY 11357 venturepromotions.com
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