In response to the current coronavirus situation, DRK and Company is taking every precaution to maintain the safety of our staff and communities by eliminating non-essential travel and in-person group meetings. We are all following a rigorous hygiene policy that is aligned with CDC guidance.
We recognize the uncertainty of the circumstances and assure you, our clients and colleagues, that we are prepared to meet these immediate challenges with best practices and provide our team with real-time support as required to keep it “business as usual” as we continue to monitor and adjust as appropriate.
DRK is taking advantage of the latest technology to allow our staff to work without interruption and provide project deliverables on schedule.
We appreciate your continued open communication and please pass along any concerns or suggestions that you may have in the coming weeks. All of us at DRK wish you and your loved ones a safe and successful transition toward a quick resolution to the COVID-19 pandemic.
INTERIM FINAL RULE ON REVISIONS TO FIRST INTERIM FINAL RULE (DUE TO FLEXIBILITY ACT)
"This interim final rule revises SBA’s interim final rule posted on April 2, 2020, by changing key provisions, such as the loan maturity, deferral of loan payments, and forgiveness provisions, to conform to the Flexibility Act. SBA also is making conforming amendments to the use of PPP loan proceeds for consistency with amendments made in the Flexibility Act. Several of these amendments are retroactive to the date of enactment of the CARES Act, as required by section 3(d) of the Flexibility Act."
Here are the key highlights:
- Effective Retroactively to 3/27/2020 For Loan Forgiveness
- Loans made before 6/5/2020 maturity is 2 years
- Loans made after 6/5/2020 maturity is 5 years.
- Covered Period to 12/31/2020 from 6/30/2020
- Deferral Period of PPP Loans is viable to start after the date on which the SBA remits the loan forgiveness amount (within 10 months after the end of the covered period).
- The requirement of 60% for payroll is updated to reflect a proportional limit on nonpayroll costs as a share of the borrower’s loan forgiveness amount, rather than as a threshold for receiving any loan forgiveness
- The amount of loan forgiveness can be up to the full principal amount of the loan and any accrued interest
- Interest payments on any other debt obligations that were incurred before February 15, 2020
- EIDL loans refinanced into a PPP loan can be forgiven and are subject to the same 60%/40% limitations as the PPP loans.
COVID-19 RESPONSIBLE PROTOCOLS FOR ALL BUSINESSES
- Require face coverings for employees and recommend them for clients/customers at all times.
- Conduct daily health assessments by employers and employees (self-evaluation) to determine if "fit for duty."
- Maintain good hygiene at all times – hand washing, sanitizing and social distancing
- Clean and sanitize workplaces throughout workday and at the close of business or between shifts.
- Limit capacity to meet social distancing guidelines.
- Establish maximum capacity at 50% of fire code.
- And, use appointment setting where possible to limit congestion.
TAKE THE FOLLOWING ACTIONS WHEN A COVID-19 INFECTION IS IDENTIFIED
- Immediately report employee or customer infections to the local health district.
- Work with local health department to identify potentially exposed individuals to help facilitate appropriate communication/contact tracing.
- Shutdown shop/floor for deep sanitation if possible.
- Professionally clean and sanitize site/location.
- Reopen in consultation with the local health department.
ECONOMIC RESOURCES FOR COLUMBUS REGION COMPANIES
This resource is designed to help the economic development leaders, employers and the workforce in the Columbus Region respond to the challenges of COVID-19. One Columbus would like to help those seeking answers, as well as help to protect health in the community.
Columbus Business First has compiled a list of state resources to help businesses during the outbreak. Please visit their website for more information.