Schools out, at least for this year – Keep Moving Forward
It looks like PA has followed a lot of other States. We were just informed this morning that the PA Dept. of Education has decided to close schools for the remainder of the school year. Thankfully, our school district launched their “Forward Learning” initiative so our kids could continue with instruction online. As a friend/colleague said to me earlier today, “the enjoyment of having lots of family time is wearing off and the kids are missing their friends.” I know some of you can relate.
That being said, the current normal is a place where our personal and business lives continue to collide. I cannot emphasize it enough, it is more important than ever to be working on your business and looking for ways to survive through the current times and thrive when we get through it.
Below are a few articles that may help you navigate the current situation:
- Harvard Business Review:
KEEP MOVING FORWARD, IT WILL GET BETTER
A few other things that you should also look at as well:
- Dept. of Labor Guidance for Small Business Exemptions. Please take a look at our linked memo which highlights the new guidance which was issued by the Department of Labor related to exemptions and details of the Family and Medical Leave Ac and the Emergency Paid Sick Leave Act.
- PPP Program Updates: A few things on this
- Additional FAQs were issued last night (see linked document) The two big additions were: 1. SBA lenders could use their own promissory note documents to close PPP loans; and 2. SBA lenders must distribute the funds approved by the SBA within 10 days of commitment. This could cause some business owners to think a little more creatively about when or if they are applying and signing for the PPP loan.
- Tomorrow, the PPP applications for independent contractors and self-employed individuals can be processed. Please reach out to your bank or any other SBA approved lending institution if you need help. Linked is a list of SBA approved lenders and consultants that we have worked with in the past.
- Monkey See, Monkey Do: A bill was introduced in the PA House to force COVID-19 business interruption coverage. This follows similar bills in LA, NY, OH, MA and NJ. The article is here.
- Helpful Resources & Upcoming Webinars
- Karl Diffenderfer, CEO and Founder of Higher Impact Business and Life Coaching, is offering (gratis) his time and advice to business owners during this situation. Please contact him directly (firstname.lastname@example.org; 717-201-8536)
- Hitesh Patel, Transworld Business Advisors, sent over the following helpful podcast for entrepreneurs: The Deal Board. He is offering Broker Opinions of Value for owners thinking of selling or planning ahead for an eventual exit strategy. Please reach out to him directly (email@example.com)
- Town Hall Meetings for CEOs and Owners (4/14 @ 7am): Mark Sussman (firstname.lastname@example.org) of the Strategic Business Group will be hosting a virtual townhall for CEOs and Owners. Click here to register to attend.
- RKL Weekly Coronavirus Webinar (4/10 @ 11am): Click here to register.
- NFIB Coronavirus Part V; Friday April 10, 2020; 12-1pm: Register for the event here.
Please see all of our updates at the following link: https://mpl-law.com/resource-center/