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 firstname.lastname@example.org.
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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Employee Retention Tax Credit Offers Huge Relief Opportunities for the Construction Industry
The Employee Retention Tax Credit (ERTC) has been a valuable COVID-19 relief option for businesses who faced revenue losses due to ongoing impacts of the pandemic. While some industries were impacted more than others, certain sectors of the construction industry actually expanded in 2020, including homebuilders and industrial contractors.
Biden Signs Bill Extending PPP Loan Application Deadline
On Tuesday, March 30, President Joe Biden signed into law H.R. 1799, the “PPP Extension Act of 2021,” which extends the Paycheck Protection Program (PPP) application deadline to May 31, 2021; and extends the PPP authorization through June 30, 2021 to provide the Small Business Administration (SBA) additional time to process applications received by the application deadline.
SBA to Increase Lending Limit for COVID-19 Economic Injury Disaster Loans
The U.S. Small Business Administration is increasing the maximum amount small businesses and non-profit organizations can borrow through its COVID-19 Economic Injury Disaster Loan (EIDL) program. Starting the week of April 6, 2021, the SBA is raising the loan limit for the COVID-19 EIDL program from 6-months of economic injury with a maximum loan amount of $150,000 to up to 24-months of economic injury with a maximum loan amount of $500,000.
NFIB COVID-19 Survey: Small Business Recovery Remains Fragile
The National Federation of Independent Business (NFIB) Research Center released its latest COVID-19 survey on the impact the pandemic has had on small businesses.
Treasury, IRS Extend Filing and Payment Deadline to May 17
The Treasury Department and Internal Revenue Service announced that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021.
President Biden Signs “American Rescue Plan Act of 2021”
On Thursday, March 11, 2021, President Biden signed into law H.R. 1319, the “American Rescue Plan Act of 2021,” which provides additional relief to address the continued impact of the COVID-19 pandemic on the economy, public health, state and local governments, individuals, and businesses.
Changes to Paycheck Protection Program Increase Equitable Access to Relief
Recently the Biden-Harris Administration made several reforms to the Paycheck Protection Program (PPP) to further ensure small businesses get the help they need, especially Mom-and-Pop businesses in underserved communities.
Two-Week PPP Application Window Opens Specifically for Small Businesses with Fewer than 20 Employees
These changes to the Paycheck Protection Program (PPP) rules are meant to help small businesses and give them an exclusive window of time to apply for PPP funding starting February 24.
Residential Remodeling Fully Recovered from the Beginning of COVID-19
Spending on residential improvements will continue to grow at a healthy pace over the next two years, according to experts speaking at an online press conference hosted by the NAHB Remodelers during the 2021 International Builders’ Show virtual experience. Professional remodelers from across the country agreed with the forecast, citing increased demand during COVID-19 and consumer confidence.
President Biden Announces Increased Purchase of COVID-19 Vaccines
The Biden administration has announced the purchase of an additional 200 million doses of vaccines from Pfizer/BioNTech and Moderna. The government anticipates distribution to 300 million Americans by mid-summer.
PPP 1 And 2 Loans: What Expenses Are Considered Covered Costs?
A second round of Paycheck Protection Program (PPP) loans brings many questions around funding eligibility and how the money can be spent to qualify for forgiveness. Once you have either a PPP1 or PPP2 loan, it’s important to understand what costs are covered so you can maximize forgiveness.
OSHA Issues Revised COVID-19 Workplace Guidance
The U.S. Department of Labor announced that its Occupational Safety and Health Administration (OSHA) has issued stronger worker safety guidance to help employers and workers implement a coronavirus prevention program and better identify risks which could lead to exposure and contraction.
SBA and Treasury Announce PPP Re-Opening; Issue New Guidance
The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced today that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers.
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.
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.
NWFA Real Answers: New PPP Loans and Budget Planning Tips for the Year Ahead
Michael Martin and Chris Zizza discuss details of new PPP loans, and tips for budget planning and sales forecasting for 2021.
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.
Video Series: PPP With Paul And Dan
With new updates and legislation evolving quickly around the Paycheck Protection Program (PPP), the Anders CPAs + Advisors’ CARES Act Research and Response Team has been focused on relaying information you need to know. Two of the team members, Paul C. Rhea and Daniel K. Schindler, are sharing the latest changes around PPP loans and the forgiveness process in their video series: PPP with Paul and Dan.
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.
- Business Resources:
- Federal/State Resources:
- Cybersecurity & Infrastructure Security Agency – Cybersecurity Resources for COVID-19
- Federal Trade Commission – Coronavirus Advice for Consumers
- 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.
- U.S. Chamber of Commerce
- U.S. Department of Labor – COVID-19 and the Fair Labor Standards Act Questions and Answers
- Financial Assistance Resources:
- The Save Small Business Fund by the U.S. Chamber of Commerce Foundation
- Floor Covering Industry Foundation Grants and Applications
- U.S. Chamber of Commerce Coronavirus Emergency Loans Small Business Guide and Checklist
- U.S. Small Business Administration (SBA)
- The U.S. Department of the Treasury provides small business assistance information
- Health/Safety Resources:
- Industry Resources:
- 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: https://www.forestresources.org/impact-of-covid-19-on-the-forest-products-industry