COVID-19 Resource Center for the Wood Flooring Industry
The National Wood Flooring Association (NWFA) and Hardwood Floors magazine continue to monitor the coronavirus (COVID-19) outbreak. As the situation changes by the minute, we want to serve as a resource to the wood flooring community during this unprecedented time. Our team will regularly update this webpage with related industry news, event cancellations, and resources you may find helpful. Read on for more information, and feel free to send company news and other resources to email@example.com.
Most NWFA members are small businesses, and many are impacted by the Coronavirus (COVID-19) pandemic. NWFA has reviewed the Coronavirus Aid, Relief, and Economic Security (CARES) Act to gather information that will help eligible members navigate the programs available to them through the Small Business Administration.
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The Paycheck Protection Program Flexibility Act
The new law modifies the original Paycheck Protection Program (PPP). Read an overview of these changes from the Small Business Administration (SBA) and the U.S. Department of Treasury.?
Guide to PPP Loan Forgiveness
Under the Paycheck Protection Program (PPP), loans may be forgiven if borrowers use the proceeds to maintain their payrolls and pay other specified expenses. The U.S. Chamber of Commerce is providing a guide to help borrowers understand the process by which their loan forgiveness amount will be calculated and the overall approach of the loan forgiveness process.
U.S. Securities and Exchange Commission Launches Investigations Into PPP Loans
The SEC has begun sending requests for documents to recipients of loans provided under the federal government’s PPP and is looking into how the funds are being used. Read this article from Barnes & Thornburg LLP for more information.?
The Small Business Administration (SBA) released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application. Read this press release to view the application and instructions.?
SBA Provides Safe Harbor for Certifying Need for PPP Loans
The SBA has issued additional guidance that extends the safe harbor period to return PPP loan funds, provides an additional safe harbor for certain PPP loan recipients regarding their good-faith certification of need, and insight on the SBA’s criteria when reviewing the good-faith certification of need. Barnes & Thornburg LLP shared an overview of this information.
Employees That Do Not Want to Come Back to Work: How It Impacts Your PPP Loan
Read this article from the WFCA for more information on how an employee not coming back to work may impact the amount of a PPP loan that is forgiven.
COVID-19: Economic Update and Flooring Outlook
Bruce Zwicker of Zwicker Advisory LLC provided a look at the impacts of COVID-19 on the wood flooring industry during the NWFA Virtual Expo on April 29. Learn more about the lay of the land and what to expect going forward by viewing the slides from his presentation.?
New $484 Billion Stimulus Package Replenishes PPP and Offer Relief for Hospitals and Businesses
A new coronavirus relief bill was signed into law that will help replenish the depleted Paycheck Protection Program (PPP), among other initiatives. Read this blog from Anders CPAs + Advisors for details about the relief package.
OSHA Clarifies COVID-19 Reporting Requirements
The U.S. Department of Labor has announced that businesses will not have to consider confirmed cases of COVID-19 as recordable incidents for Occupational Safety and Health Administration (OSHA) recordkeeping purposes unless there is objective evidence available to them that the cases are work related.
How to Check Eligibility and the Status of Payment
As CARES Act stimulus money is being distributed, the IRS has created a tool for taxpayers to find out when they can expect to receive payment or to enter banking information for direct deposit. Read more in this blog from Anders CPAs + Advisors.
Treasury Issues Guidance on Small Business Loan Program
Small businesses and sole proprietorships can apply for loans through the PPP starting on April 3, while self-employed individuals and independent contractors can apply starting April 10. The Hardwood Federation has provided an overview.
COVID-19 Cleaning and Disinfecting: What’s Safe for Wood Floors?
Are your customers asking how they should clean wood floors during the pandemic? This blog has tips you can share about the importance of using appropriate cleaning products.
FAQs for Coronavirus Response Legislation
The WFCA has compiled the most common questions and answers they’ve been receiving about the recent legislation passed in response to the Coronavirus.
Understanding the CARES ACT
The 883-page Coronavirus Aid, Relief, and Economic Security (CARES) Act is designed to help businesses stay afloat and to pay its employees during the coronavirus crisis. Accordingly, it provides for loans, tax relief, and other programs to assist businesses and individuals. The WFCA is sharing an overview of the provisions that may impact you most.
House Joins Senate in Passing COVID-19 CARES Act
The House of Representatives has joined the Senate and passed the Phase 3 “Coronavirus Aid, Relief, and Economic Security (CARES) Act,” which will now be sent to the president’s desk and is widely thought to be signed as soon as possible. Read more information from the Hardwood Federation. ?
U.S. Department Of Labor Announces Additional Guidance Explaining Paid Sick Leave and Expanded Family and Medical Leave
The U.S. Department of Labor’s Wage and Hour Division (WHD) announced more guidance to provide information to workers and employers about how each will be able to take advantage of the protections and relief offered by the Families First Coronavirus Response Act (FFCRA) when it takes effect on April 1, 2020.
Fraud During COVID-19
With all the disruption of business as a result of the coronavirus, companies are vulnerable to fraud. The World Floor Covering Association (WFCA) has suggestions on ways to protect your company.
Impact of COVID-19 on the Forest Products Industry
The Forest Resources Association (FRA) is providing daily updates about essential businesses and workforces by state, as well as shelter-in-place orders.
A Summary of the U.S. Economy and Coronavirus Threats
Santo Torcivia, President of Market Insights LLC, provides an overview of the quarterly United States Market Monitor Report for March 2020.
Cash Flow Relief Under the Families First Coronavirus Response Act
A significant issue for small businesses is the impact on cash flow of the requirements under the Families First Coronavirus Response Act that was passed last week to pay sick and family leave. Learn more in the latest assessment from the World Floor Covering Association (WFCA).
President Trumps Signs the “Families First Coronavirus Response Act”
H.R. 6201, the “Families First Coronavirus Response Act,” which provides for supplemental appropriations related to the COVID-19 public health emergency, as well as waivers and modifications of Federal nutrition programs, employment-related protections and benefits, health programs and insurance coverage requirements, and related tax credits during the COVID-19 public health emergency.
OSHA Publishes COVID-19 Guidance
The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) has published “Guidance on Preparing Workplaces for COVID-19” to help companies respond in the event of coronavirus in the workplace.
U.S. Department of Labor Announces New Guidance on Unemployment Insurance Flexibilities During Coronavirus Outbreak
Under the guidance, federal law permits significant flexibility for states to amend their laws to provide UI benefits in multiple scenarios related to COVID-19.
Webinar Series: Collaborate from Home with Microsoft Teams
Anders CPAs + Advisors is offering a free two-part recorded webinar series to help jumpstart your company’s remote work efforts using Microsoft Teams.
Managing COVID-19 Anxiety and Safety at Work
KPA, a safety and compliance company, is offering free webinars and online courses which provide guidance on how to address COVID-19 in the workplace.
UnleashWD: Leading During the Coronavirus Pandemic
With the rapid spread of the coronavirus outbreak, business leaders are tasked with providing confident, informed, and strategic direction. Employees, customers, suppliers, and others are looking to you for leadership in these trying times. Industry consultant and speaker Dirk Beveridge hosted a series of video conversations with experts to give you the insight you need to proceed forward with confidence as the days to come are unknown. These may also be viewed through NWFAU.
The U.S. Department of the Treasury provides small business assistance information
The National Association of Home Builders (NAHB) has a state-by-state map showing where home builders can stay on the job.
Forest Resources Association
The National Governors Association is frequently updating information about non-essential business closures, stay-at-home orders, disaster declarations, small business loan programs, and more. Visit nga.org/coronavirus/#current to learn what’s happening in your state.
NWFA members may download a template work from home policy for your employees.
NWFA members may download a template infectious disease control policy.