Happy April Fool's Day! COVID-19 is no joke, but hope this gets a laugh.
|
|
If you're visited by police, Fire Marshall
|
|
FROM THE DESK OF TERESA CAMPBELL:
These are certainly unprecedented times, and every city county and health department has taken the liberty to issue stay-at-home orders as they see fit. We have reviewed each order and determined how our industry is classified and sent letters supporting it. There have been no orders where we don’t fall into supporting essential business. However, three of our members have been visited by a fire marshal or police officer.
|
|
FFCRA posters need to be up in your shop today
|
|
Families First Coronavirus Response Act (FFCRA) goes into effect today.
Employee rights posters
need to be up in shops
today
for those remaining open. Find posters in the link below.
|
|
'Paycheck Protection' loan paperwork hits banks
|
|
Time is of the essence, so if you haven't
contacted your banker
and
begun compiling
your business documents, we encourage you to start. If you don't have a banker, click the 'Local SBA Resource' button to find one near you.
|
|
|
|
Economic Injury Disaster Loan (EIDL)
- Less than 500 employees
- Retroactive to Jan. 31, 2020
- Fastest way to get working capital
- Up to $2 million
- Approved solely on credit score
- Less than $200K approval w/o personal guarantee
- 3.75% for-profit & 2.75% non-profit
- 1st month can be deferred up to a year
- Up to 30 years maturity
- No early payment penalties
- Use to cover rent/mortgage, utilities, payroll, AP, materials due to supply chain disruption (fixed debt)
- Up to $10K within 3 days with or without loan approval
- Up to $10K forgiven – documentation of qualified expenses (this is critical)
|
You can only pick this $10K
OR
the 8 weeks of payroll in the PPPL to be forgiven. Not both. This EIDL can be rolled into your PPPL loan.
|
|
|
|
Paycheck Protection Program Loan (PPPL)
- Less than 500 employees
- In business since Feb. 15, 2020
- 100% guarantee
- Up to 2.5x monthly payroll from previous year up to $10 million
- Includes seasonal employees
- Delay payroll taxes up to 2 years
- Interest rate maximum of 4%
- Payment deferred including interest for at least 6 months
- Up to 10 years maturity
- No early payment penalties
- Can be used to retain workers, maintain payroll, rent/mortgage, utilities
- Loan forgiveness (payroll, mortgage interest, rent, utilities)
- Choose which 8 weeks/ 80 hours for loan forgiveness
|
Use sample application to gather information. Fill out application from your specific bank.
|
|
|
|
LB Carlson President
Mel Enger
, CPA, has worked extensively with print & packaging companies. He helped moderate the roundtable webinar yesterday and provided numerous resources. His documents include a
CARES Act summary
,
loan
worksheet,
forecast for cash planning
and
cash flow worksheet
.
|
|
|
COVID-19 Management Roundtable Webinar
|
|
March 31:
Watch & view slides
as we discuss
CARES Act
,
loan
options, best practices in
cash management
,
labor
strategies
and more as it relates to COVID-19 with PIA MidAmerica President
Teresa Campbell
and LB Carlson President
Mel Enger
, CPA. Registrants were emailed the password to download last night. If you didn’t attend,
message us
for the password.
|
|
COVID-19 employment resources
|
|
'Families First' Response Act
New laws addressing critical human resources issues surrounding COVID-19
go into effect today
. Includes refundable tax credits for employers that are required to offer emergency FMLA or paid sick leave.
|
|
State Work Share programs
In economic slowdowns, you have resources when
reducing employees hours
. Technically referred to as short time compensation, the goal is to reduce unemployment. You must apply.
|
|
Unemployment changes
The new law also
increases weekly benefits
for all unemployed workers by $600 a week for up to six months, and 13 weeks of benefits on to the number of weeks a state currently pays benefits.
|
|
Slate Group: Flip ear crafts
|
|
Whether you need something to do with the kids or some inspiration for your next project, here's a
hands-on activity
that can serve as a creative break for your whole family.
Templates
include bunny, dog or elephant.
|
|
Continued campaign to promote print
|
|
You have permission to use this image in your own self-promotion. Created by our own
Heather Collins
.
|
|
COVID-19 webpages with resources
|
|
We've published a
COVID-19 webpage
to house all the
resources
you need to stay informed and operate using best practices during the pandemic. Look to it for HR resources, stimulus bill details, remote learning links and much more.
These
COVID-19 digests
will continue as a way to keep you updated about what's been added to the webpage recently.
Let us know
if you need more information in a certain area, the webpage will be continually updated.
|
|
|
|
|
|
|