Sachem Financial and University of New Haven Collaborate to Power New Business Sustainability Program
The program is specifically designed to support small and medium-sized businesses that received either the Employee Retention Tax Credit (ERTC) or Payroll Protection Program (PPP) loans.
February 21, 2023
Sachem Financial announced that it will be releasing an education program to support small and medium-sized businesses. The program, designed by the University of New Haven's Pompea College of Business, will be offered at no charge to businesses that attained either the Employee Retention Tax Credit (ERTC) or Payroll Protection Program (PPP) loans. This program delivers content to best prepare business owners and operators for long-term sustainability.
Program participants will be exposed to many of today's business challenges, including inflation, supply chain disruptions, and a tight labor market. In addition to current topics, participants will perhaps gain a deeper understanding of how to read financial statements, create a sustainable budget, and how to create a financial plan for future expansion.
“We are pleased to collaborate with Sachem Financial to help create a business sustainability program that we believe can have an important and far-reaching impact,” said Brian T. Kench, Ph.D., dean of the Pompea College of Business at the University of New Haven. “By leveraging the vast expertise and experience of our talented faculty, we were able to develop pathways and solutions to help small and medium-sized companies navigate and respond to the most pressing challenges of today’s business climate.”
Sachem Financial hopes that by providing a world-class business course, produced by the University of New Haven, to those that received government funding, businesses will be prepared for long-term sustainability, providing continued stability to workers and community vibrancy.
While the PPP program has concluded, companies may still qualify for the employee retention tax credit (ERTC). Companies that have not yet checked their eligibility or filed for this credit should visit either sachemfinancial.com/ertc-eligibility-review or consult their tax professional. The ERTC credit can be an important way for a business to strengthen their financial foundation and scale.