Despite a two-month deadline extension, to May 31, time is nonetheless running out for members who wish to apply for a forgivable loan under the Paycheck Protection Program (PPP).
GOVERNMENT LINKS
Centers for Disease Control & Prevention (CDC):
The federal government’s chief destination for COVID-19 information, plus guidance for businesses and employers.
• COVID-19 Page
Resources for Businesses/Employers
• FAQ and 14-day Monitoring Worksheet
World Health Organization (WHO):
A FAQ page from the United Nations’ global healthcare agency.
• Q&A on Coronavirus
Occupational Safety & Health Administration (OSHA):
Downloadable PDFs on steps businesses can take to help ensure employee safety.
• Guidance for Preparing Workplaces
• Prevent Worker Exposure
U.S. Department Of Labor:
What businesses need to know to remain in compliance with federal work rules.
• Family & Medical Leave Act Q&A
• Fair Labor Standards Q&A
U.S. Small Business Administration (SBA):
How to apply for low-interest disaster loans and measures for reducing workplace exposure.
• Small Business Guidance and Loan Resources
• Economic Injury Disaster Loan Program Info
INDUSTRY ASSOCIATIONS
The National Retail Federation (NRF):
A clearinghouse for retailer resources, from the industry’s largest trade association.
• NRF Coronavirus Resources for Retailers
Home Furnishings Association (HFA):
• COVID-19 Recovery Resources
• Payment Protection Program Loan Info Webinar
PPP Loan Deadline Likely Extended by Two Months
The Senate last week approved extending the deadline for loan applications under the Paycheck Protection Program (PPP) from this Wednesday to May 31.
Attention PPP Borrowers: Beware a Tax Bite from Your State
The experience of a small powder coating company in Minnesota can serve as a cautionary tale for PPP recipients who thought their forgivable loans came free and clear.
Trade Group Urges Early Vaccines for Retail Workers
The National Retail Federation (NRF), the world’s largest retail trade association, has petitioned the Centers for Disease Control and Prevention (CDC) to include retail workers in the early phases of COVID-19 vaccine distribution.
PPP Round Two: What You Need to Know
The new $900 billion COVID stimulus package passed this week by Congress contains a number of new provisions that could directly affect BrandSource members, including additional Paycheck Protection Program funding (PPP) and relaxed deductibility rules.
Business Groups Urge Congress to Restore PPP Loan Tax Breaks
Over 500 state and national trade associations, including the National Retail Federation (NRF), the National Association of Manufacturers (NAM) and the U.S. Chamber of Commerce, are pressing Congress to restore tax deductibility for business expenses paid with forgivable Paycheck Protection Program (PPP) loans.
SBA Proposes PPP Questionnaire for $2M+ Borrowers
In the wake of criticism for issuing Paycheck Protection Program (PPP) loans to financially viable companies like Shake Shack and the Los Angeles Lakers, and amid suspicion of widespread program abuse and fraud, the Small Business Administration (SBA) is seeking permission to question borrowers who received $2 million or more in PPP loans.
We Got COVID at Our Store. Now What?
A renewed wave of COVID-19 is surging across the country, and BrandSource members are not immune.
UASA Cancels ASTI Service Show for 2021
The United Appliance Servicers Association (UASA), a BrandSource partner and arguably the nation’s largest appliance repair trade group, has pulled the plug on next February’s Annual Service Training Institute (ASTI) due to COVID-related health concerns.
Tempur Sealy to Introduce Virus-Killing Mattresses Next Year
Tempur Sealy plans to employ an antimicrobial and antiviral technology to select Sealy, Tempur-Pedic and Stearns & Foster mattresses in 2021.
JIM RISTOW TOWN HALL
NEWS BRIEFS
Chip on His Shoulder: The microprocessor shortage, rather than a capacity issue, stems from hoarding and stockpiling and is merely a play for tax breaks, this author argues. Seeking Alpha
Signs of Life: Traffic, open showrooms and customer orders were all on the upswing at this week’s furniture market in Las Vegas. Home News Now
The Meaning of Success: Amazon founder Jeff Bezos waxed philosophical in his last shareholder letter as CEO. Retail Dive
EDUCATION CALENDAR
Managing COVID-19 Related Employee Issues
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Small Business Administration Loan Process
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