The NWFA has launched the NWFA Member Guide to Coronavirus Economic Relief that puts all of the Small Business Administration (SBA) relief efforts in one place for small NWFA businesses to easily see what they are eligible to apply for, and to further help members navigate the loan and grant processes.
The Guide provides information on 10 different programs with specific links to apply for:
- Economic Injury Disaster Loans
- Emergency Economic Injury Grants
- Paycheck Protection Program Loans
- A payroll calculator as well as a calculator for the forgivable part of the loan
- Debt Relief Program
- Employee Retention Credit Program
- Tax Filing Extension
- Counseling & Training
- Net Operating Losses Reporting
- And Deferred Social Security Payments
As the Coronavirus (COVID-19) pandemic continues to evolve and impact its members, the NWFA said it is working diligently to do three things:
- Keep members informed about the impacts on their business and personal lives through a COVID-19 Resource Center on the Hardwood Floors magazine website.
- Keep members connected to the group and each other through new networking options so best practices can be shared. This is taking place with Thought Leader Thursdays, conference calls and virtual meetings.
- Keep the business side of NWFA going with its own expo being cancelled, applying for Small Business Loans and changing our business model on a daily basis to spend your resources wisely.
The NWFA has also launched several initiatives to keep its members in-the-know. For example, the group hosts a daily NWFA Real Answers Podcast with past chairman, Chris Zizza of C&R Flooring in Boston, as well as with special guests, to help navigate the changes coming at the industry every day.
From a networking standpoint, NWFA started hosting Thought Leader Thursday conference calls through its steering committees. NWFA has four steering committees, one for each major member type—Manufacturer, Distributor, Contractor and Retailer. This allows peer groups to get together once per week and share best practices and tips for keeping and building new business.
This week the NWFA provided two webinars to help members understand the SBA program and posted more than 10 videos that are designed to help businesses through crisis. Recordings of these are available in the NWFA Online University and in the Hardwood Floors Magazine C-19 Resource Center.
The NWFA has also created a new Virtual Expo that will provide attendees with similar tools to our live event, but with more options to attend all education.
“NWFA is committed to be here for you during this crisis, as well as every single day of the year,” said Michael Martin, president and CEO, in a letter to its members. “It’s critical to stay connected to your community during this time, and we are here to help. Email me or call my cell, 314.422.5651, to discuss your ideas for bringing us all together to keep the industry strong during this time.”