COVID-19 HARDWOOD INDUSTRY UPDATES
News about COVID-19 is rapidly changing each day. NHLA is here to support our members with the most up-to-date information as possible to help you maintain your business during the pandemic. We are here if you have any concerns or questions. Below, you will find a list of resources and information to help:
To stay up to date as possible, please register for our newsletter HERE.
PAYCHECK PROTECTION PROGRAM (PPP)
An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.
For a full explanation of what you need to know about the SBA Coronavirus Relief Options, please click HERE.
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.
SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating.
To learn more about this program, click here.
Who can apply for the PPP?
*Any small business that meets SBA’s size standards
*Any business, 501(c)(3) non-profit organization, 501(c)(19) veterans organization, or Tribal business concern (sec. 31(b)(2)(C) of the Small Business Act) with the greater of:
500 employees, or
That meets the SBA industry size standard if more than 500
*Sole proprietors, independent contractors, and self-employed persons
To learn more, click here.
Loan Details & Forgiveness
The loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.
To learn more, click here.
GUIDANCE FOR SMALL BUSINESS LOAN PROGRAM
The U.S. Treasury issued guidance for the Paycheck Protection Program (PPP) which provides $350 billion in loans for small businesses impacted by the Coronavirus. Guidance for this program can be found HERE.
For a full list of Coronavirus Small Business Guidance & Resources from the US Small Business Administration, please click HERE.
The Paycheck Protection Program application can be found HERE.
What is Happening in Your State?
House Joins Senate in Passing COVID-19 CARES Act
*Update as of March 27, 2020, 3:45 PM CST: President Trump has signed the $2 trillion COVID-19 relief bill.
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. Learn more about how this could benefit you by clicking here.
NHLA Signs-On to Support DHS Critical Infrastructure and Essential Workers
NHLA, the Hardwood Federation, and twenty-one Federation members signed on to a letter from the National Association of Manufacturers asking that the Administration, Governors, and Local Jurisdictions follow U.S. Department of Homeland Security guidelines regarding critical infrastructure and essential workforce. The wood products industry is included in the Guidance. Click here to read the letter.
How the $2 Trillion Coronavirus Bill Could Help You
Forest Products Are “Essential Critical”
The U.S. Department of Homeland Security and the U.S. Department of Labor have both said the forest products industry is an “essential critical infrastructure workforce in the nation’s response to the coronavirus pandemic.” These are allowed to operate during shutdowns. Click here to read more.
Click here to read the Government’s Guidance on Critical Infrastructure Workers.
Impact of COVID-19 on Forest Products Industry by State
The Forest Resources Association has been keeping a fantastic list with updates for individual states regarding the sectors of the hardwood industry and their ‘essential’ status. We highly recommend you visit this page by clicking here.
COVID-19 Workplace and Safety Issues Webinar
NWPCA (National Wood Pallet and Container Association) hosted a webinar covering the best practices for businesses when it comes to COVID-19, including protecting yourself and your employees, avoiding OSHA liability for transmission, and which HR actions you can legally take when addressing workers with illness or exposure to COVID19. Click here to watch the webinar (it begins at the 12:50 mark).
Information from the National Association of Manufacturers
The National Association of Manufacturers has released its COVID-19 Policy Action Plan. Click here to read more.
Other Ways to Stay Informed:
Click here for information regarding Federal Tax Payments, Deadlines, and Stimulus Checks.
For information regarding Workplace Safety (OSHA), Wages, Hours and Leave, and Unemployment Insurance please click here.
For Fact Sheets regarding Workers and the American Workplace (including paid leave requirements) under the Families First Bill click here.
For the latest Department of Labor news releases, please click here.
For Small Business Guidance and Loan Resources please click here.
For Small Business Disaster Loan Assistance please click here.
For a full guide to State Resources & Restrictions please click here.
The CDC has released several fact-sheets to help businesses communicate with their workforce. Click here to see their guidance for businesses and employers.