COVID-19 BUILDING INDUSTRY UPDATES
HOW TO OBTAIN AN SBA LOAN AND HAVE IT FORGIVEN
( NAHB Now ) - In recent weeks, Congress has adopted three bills aimed at stabilizing the economy, with more to come. The most notable of these was the $2.2 stimulus package (the CARES Act) that President Trump signed into law on March 27. This law contains a nearly $350 billion federal small business loan protection program called the Paycheck Protection Program (PPP) that will provide significant loan forgiveness for small businesses with fewer than 500 employees if employers meet certain criteria.

Loan Forgiveness

  • Under the new PPP loan program in the CARES Act, small businesses with fewer than 500 employees can take out loans equal to 2.5 times their average monthly payroll from 2019 with the total capped at $10 million. For many businesses that meet key conditions on the use of these funds, the loans may be forgiven.
  • Businesses applying for an Economic Injury Disaster Loan (EIDL) may request an advance of up to $10,000 to be delivered within three days of the request. An applicant will not be required to repay this advance if the funds are used to cover payroll, provide sick leave or cover other business costs, even if the applicant is subsequently denied a loan under the EIDL program.

NAHB has created an online document, CARES Act and Small Business Lending Programs, that offers more details about these small business lending programs, including the conditions required for loan forgiveness. Read more
TAB MEMBER TOWN HALL - WED. APRIL 8
You are invited!
Over the past few weeks, information regarding the COVID-19 pandemic has changed rapidly and frequently. TAB wants to keep you up-to-date and informed on these developments and how they affect you and your businesses.

TAB is hosting a virtual Town Hall Meeting to briefly share with you what your Local, State and National Associations are doing on your behalf and also answer your questions.

Date: Wednesday, April 8
Time: 4:30 PM - 5:15 PM CT
Virtual Location: https://zoom.us/j/981849968

or Listen Via Conference Call:
Call in Number: Dial (for higher quality, dial a number based on your current location):
US: +1 346 248 7799 or +1 669 900 6833 or +1 253 215 8782 or +1 301 715 8592 or +1 312 626 6799 or +1 929 205 6099

Or iPhone one-tap :
US: +13462487799,,981849968# or +16699006833,,981849968#

Webinar ID: 981 849 968

If you have any questions that you like to submit in advance, please submit them to info@texasbuilders.org by 3 PM on Tuesday, April 7.
NAHB CORONAVIRUS WEBINAR SERIES CONTINUES THIS WEEK
NAHB held six webinars last week to help members understand the small business and tax relief provisions in the landmark Coronavirus Aid, Relief and Economic Security (CARES) Act, the $2.2 trillion stimulus package recently signed into law. These webinars gave members an opportunity to ask questions directly to NAHB staff experts and our outside counsel.

The webinar series continues this week on the following topics:

  • Tax Relief Provisions of the CARES Act: April 7, 10 a.m. CT
Learn about new federal tax relief provisions for businesses of all sizes; how they can help retain employees; and how they can help keep money in your business’ pocket.

  • Small Business Loans Available through the CARES Act: April 7, 2 p.m. CT
Understand the Small Business Administration programs available for home builders and how to apply for and navigate these new lending programs.

  • Coronavirus & Jobsite Safety: What You Need to Know: April 8, 12 noon CT
Home builders will learn about CDC, OSHA and other agency guidelines to mitigate the spread of COVID–19 on the jobsite.

OPINION: REAL ESTATE WILL BOOM ONCE CORONAVIRUS THREAT IS GONE
Go ahead, put your house on the market
( Fox Business ) - There is no need to fear putting your home on the market, says Fox Business. The stigma that has been historically associated with a home's "days on market," as it relates to home sales is soon to be a thing of the past.

The real estate market is definitely not operating in a traditional manner during the coronavirus pandemic but real estate professionals have been working behind the scenes to ensure that the industry remains a safe haven amidst an upside-down world.

There are still an incredibly large amount of unknowns out there but we are doing our best to operate after the shocking developments that came in March.

For people who have been considering selling, it might not be necessary to wait. One benefit of Americans being home all day is that they are online all day long. ALL DAY.

Eventually, we will all find a way to a real estate site, or at least search homes on Instagram. It's inevitable, kind of like those cookies in your pantry are going to get eaten by the time you’re done reading this article. Read more
For more visit ghba.org/covid19