Paycheck Protection Program, DOL poster, small business loans
Application to the
Paycheck Protection Program starts this Friday, April 3
. The program, implemented by the Small Business Administration,
will provide small businesses with fewer than 500 employees with funds to pay up to eight weeks of payroll costs, including benefits
. The loans will be fully forgiven if an employer maintains or quickly rehires employees. Click
here
for program details and
here
for the application.
The Department of Labor has
issued a new poster notifying non-Federal employees of the Families First Coronavirus Response Act (FFCRA),
which must be posted or otherwise communicated to employees starting today. Click
here
for the posters (in English and Spanish).
HBAV general counsel Williams Mullen has
released a
chart
highlighting key differences between the Coronavirus Aid, Relief and Economic Security (CARES) Act and the Economic Impact Disaster Loan (EIDL) program.
For a complete update, click
here
.
HBAV reminds members that
although the construction industry still remains operational at the current time,
no one should be conducting business as usual.
It's critical for every member to follow CDC and government guidelines
in keeping employees, clients and the general public safe. Not doing so could jeopardize the industry's status as an essential business. Click
here
for HBAV's comprehensive COVID-19 resources document.
As the national emergency continues to evolve, we'll
keep you informed with Updates
providing information from the localities and agencies you work with on a daily basis.
These Updates
also contain links to a wide range of health, business and human resources information
compiled by both the state and national home builders associations. You'll find all CVBIA updates sent out over the past few weeks on the association's
home page.
Best regards,
Ryan Rose, CVBIA President
