ABC’s Construction Backlog Indicator Up in June; Contractor Optimism Grows
WASHINGTON, July 14—Associated Builders and Contractors reported today that its Construction Backlog Indicator rose to 8.1 months in June, an increase of 0.2 months from May’s reading. CBI is down approximately 8% from its June 2019 level. Every region except the Middle States experienced an increase in backlog in June compared to May, according to an ABC member survey conducted from June 20-July 1.
Additionally, the survey indicates that confidence among U.S. construction industry leaders increased regarding staffing levels, profit margins and sales in June. Construction sales and staffing levels are expected to expand over the next six months, while profit margins are expected to decline. Click here for the full story.
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- The Coronavirus Aid, Releif, and Economic Security Act: What is Provided in it for the Flooring Retailer and Contractor.
- U.S. Chamber of Commerce Emergency Loans Small Business Guide and Checklist
- Other Options Besided PPP for Small Businesses
- SBA Economic Injury Disaster Loans (EIDL) – Long term loans for payments of fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.
- SBA Economic Injury Disaster Advance Loan - Offers small businesses a one-time advance up to $10,000 of the EIDL to cover costs in the short term. This loan advance will not have to be repaid.
- SBA Paycheck Protection Program - Incentive loans to keep workers on small business payrolls. If all employees are kept on payroll for eight weeks, SBA will forgive the portion of the loans used for payroll, rent, mortgage interest, or utilities. Up to 100 percent of the loan is forgivable.
**PPP Borrower Application Form --The SBA makes this form available on its website for those businesses interested in applying for Paycheck Protection Program loans. Be advised that some lenders may develop a version of this form specific to their institution, but the information requested will likely be the same. By taking a look at this SBA application, you can be better prepared when working with your lender.
**Paycheck Program Flexibility Act Signed Into Law
**How Employees Who Don't Want to Come Back to Work Impact Your PPP Loan
**Step by Step PPP Loan Forgiveness
**IRS Says Expenses Paid with Forgiven PPP Loans are Not Tax Deductible
**PPP Loan Accounting: Tips to do It Right
**What's next for businesses unsuccessful in the first round of Paycheck Protection Program
- All SBA Coronavirus Small Business Guidance & Loan Resources
- Grandy & Associates - Untangling the Confusion of the SBA Programs Multiple Videos to Help Guide You
- Trump Signs PPP Loan Program Extension into Law
- Federal Guidelines for Opening Up America Again
Health & Safety
U.S. Department of Homeland Security- Guidance on the essential critical infrastructure workforce
CISC Coronavirus Preparedness and Response Plan for Construction (English / Spanish)
Milwaukee Tools: Cleaning of Tools to help prevent spread of COVID-19
AGC COVID-19 Job Site Practices
Construction Industry Covid-19 Exposure Response and Prevention Plan
We are all seeing a lot of misinformation out there about COVID-19 PLEASE stick to government sources and check your sources before sharing medical information. To help you sort through the myths visit World Health Organization COVID-19 advice for the public.Myth busters:
SBA U.S. Small Business Administration
U.S. Chamber of Commerce Foundation
*Combating the Coronavirus
U.S. Department of Labor
NAHB What Businesses Need to Know about Workers" Comp and Covid-19
Attorneys offer Free COVID-19 Legal Consultations for Contractors
Hays: COVID-19 Considerations: Termination and Furlough Issues
Schechner Lifson is NTCA's insurance provider and they are willing to help with insurance services and claims.
Marc Rosenkrantz,CRM,CIC,AAI Schechner Lifson Corporation: email@example.com https://www.slcinsure.com/
Simon Kucher & Partners- Coronavirus: 6 Measures for Construction Companies on Dealing with the Ongoing Crisis
Regulations to Watch
Associated General Contractors
- Navigation the Outbreak--An eight part webinar series on the factors that construction companies need to consider, as they strive for business continuity.
Dodge Data and Analytics
National Association of Homebuilders
The Farnsworth Group -Weekly COVID-19 Impact Tracker
Identify “shelter-in-place” orders that may impact your business using these links (sites are updated daily)
Fraud During the Coronavirus
With all the disruption of business as a result of the coronavirus, companies are vulnerable to fraud. It is important, however, to ensure your business does not become a victim of fraud. We would like to share with you two schemes that are likely to occur during the current crisis, ACH and credit card fraud. Read More