I know front of mind for firms is how to manage through this crisis with so many mandates and uncertainties. At this point below are efforts on various fronts to keep your business going:
1) Keep A/E/C industry designated an essential service and exempt from any stay at home/shelter in place federal, state or local orders.
- A/E/C industry is currently an essential service per federal guidelines being used by La.
- Monitoring continues
2) Keep clients paying invoices. Checking in with clients to ensure they have staff working to manage projects, advertise upcoming projects, and process contracts and invoices and not slowing down.
- ACECL and ACEC keep open communications with public clients and A/E/C industry partners.
3) SBA Economic Injury Disaster Loans for Coronavirus Related Economic Damages
- See link below for guidance on how to submit an application.
4) Families First Coronavirus Response Act
- See below for explanation about who is covered and how to pay for the cost to your firm FOR THOSE EMPLOYEES AND SITUATIONS COVERED BY THE ACT
5) Additional Emergency Economic Relief Legislation pending in Congress
- Negotiations ongoing in Congress. Could top $2 trillion in relief to individuals, businesses, governments and major industries impacted by COVID19 as an emergency aid package. May include loan forgiveness and payment deferral.
6) Economic Recovery Relief Federal Legislation
- Anticipated future federal legislation after the emergency phase which could include more infrastructure investment. May be more important for the long term recovery of businesses than the short term impact particularly for a business like consulting engineering.