RESOURCES
Memo to Employers from the New Mexico Department of Workforce Solutions
| New Mexico Resources Updates on Covid-19 from New Mexico Department of Health If you have symptoms: New Mexico Coronavirus hotline: 1-855-600-3453 Family Support Services: 1-833-551-0518 Governor Michelle Lujan Grisham’s Press Releases & Public Health Orders New Mexico Department of Workforce Solutions During a press event on March 13, Secretary McCamley announced that Department of Workforce Solutions will allow employees who have had to cut their hours due to coronavirus to claim partial unemployment benefits. This is an attempt to prevent layoffs. Employees will need to complete weekly certification to claim benefits, but the usual requirement of providing proof that one is looking for work will be waived. Employees can apply online at www.jobs.state.nm.us or over the phone at 1-877-664-6984 Monday-Friday, 8:00am-4:30pm. Businesses with employees who may need to apply for unemployment should look at: 1. This 4 min video explaining the process. 2. Here is a link to apply for unemployment benefits. It is strongly encouraged to apply online. COVID-19 Business Loan Guarantee Program The New Mexico Economic Development Department (NMEDD) has created a program to assist businesses seeking emergency loans or lines of credit to deal with negative economic impacts from COVID-19. NMEDD can guarantee a portion of a loan or line of credit up to 80% of principal or $50,000. Loan proceeds are flexible and can be used for (and not limited to) the following: working capital, inventory and payroll. Process: Borrower approaches lender Lender applies to the program Lender and NMEDD sign agreement Lender makes the loan NMEDD guarantees the loan in case of default Lenders and borrowers can apply here. LEDA Zero-Percent Interest Loans Limited to expenditures for land, building and infrastructure Can be used for lease abatement or mortgage assistance Company must be a qualified entity (manufacturer, non-retail service business with more than 50% of revenue generated out of state, or a retail business in a community or less than 15,000 in population) All loans will be required to provide security equal to the amount of the loan For assistance with LEDA loans, find & contact your Regional Representative, or contact Mark Roper, Mark.Roper@state.nm.us or 575.562.0327 New Mexico Finance Authority: Business Loan Partnership Program NMFA and “Partner Banks,” together, share risk while lowering the overall cost of borrowing for the business by NMFA offering low-cost rates on its portion of the loan to a New Mexico business. Contact, John Brooks, 1-877-ASK-NMFA, or jBrooks@nmfa.net NM Economic Development Covid-19 business assistance webinar and slides Albuquerque International Sunport Travel Updates In addition to other measures, Sunport is encouraging anyone picking up or dropping off travelers to use the outdoor curbside services rather than parking and entering the terminal. Learn more The CDC has also issued travel information for those going abroad. The CDC has FAQs to help travelers decide if they should cancel or postpone their travel. Federal Resources Small Business Administration (SBA) Businesses in New Mexico impacted by COVID-19 are now eligible to apply for low-interest federal disaster loans up to $2 million through Small Business Administration. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%. The SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay. Learn more and begin a loan application: • Online by visiting the Small Business Administration Disaster Loan Assistance program at www.sba.gov.disaster. • By phone at (800) 659-2955 or email at disastercustomerservice@sba.gov. Individuals who are hearing impaired may call (800) 877-8339. If you elect to submit a hard-copy application, you may do so by mail to the following address: U.S. Small Business Administration Processing and Disbursement Center 14925 Kingsport Road, Fort Worth, TX 76155 SBA International Trade Assistance: Contact Edward Herrara, 505.670.5957 or Edward.Herrera@state.nm.us. Internal Revenue Service Federal Tax Payment Deadline Extended to July 15, 2020 This payment relief includes: Individuals: Income tax payment deadlines for individual returns, with a due date of April 15, 2020, are being automatically extended until July 15, 2020, for up to $1 million of their 2019 tax due. This payment relief applies to all individual returns, including self-employed individuals, and all entities other than C-Corporations, such as trusts or estates. IRS will automatically provide this relief to taxpayers. Taxpayers do not need to file any additional forms or call the IRS to qualify for this relief. Corporations: For C Corporations, income tax payment deadlines are being automatically extended until July 15, 2020, for up to $10 million of their 2019 tax due. This relief also includes estimated tax payments for tax year 2020 that are due on April 15, 2020. The IRS urges taxpayers who are owed a refund to file as quickly as possible. For those who can’t file by the April 15, 2020 deadline, the IRS reminds individual taxpayers that everyone is eligible to request a six-month extension to file their return. Learn more here. Department of Labor The Wage and Hour Division is providing information on common issues employers and workers face when responding to COVID-19, including the effects on wages and hours worked under the Fair Labor Standards Act and job-protected leave under the Family and Medical Leave Act. The Office of Public Liaison at the Department of Labor shared their latest press release on COVID-19 (A.K.A. novel coronavirus). It outlines DOL guidelines and recommendations for dealing with the virus and also contains links to more detailed information and resources. Consumer Financial Protection Bureau Learn how to protect yourself financially from the impacts of coronavirus here. Guidelines for Employers Businesses should be ready to implement strategies to protect their workforce from coronavirus while ensuring continuity of operations. For more on best practices and recommended strategies, please visit the CDC’s Interim Guidance for Businesses and Employers to Plan and Respond to Coronavirus Disease 2019 (COVID-19). 1. Implement Recommended Strategies for Employee Health and Safety Any sick employees should stay home and away from the workplace, respiratory etiquette and hand washing should be encouraged, and routine cleaning of commonly touched surfaces should be performed regularly. 2. Establish a Cross-Functional Team to Manage Preparation and Response When faced with an event that has potential to significantly impact your business and its people, forming a team to manage your assessment, preparation, communication, and response is an important best practice. The earlier this team is in place, the better organized your response will be to limit impact on the business and your people. 3. Risk Assessment and Possible Scenarios Use your team to conduct a risk assessment and implement measures that balance the health and safety of employees with business continuity. Have your team brainstorm solutions to possible scenarios and considerations: • New Mexico schools will be closed starting March 16th. Will you provide childcare? Are all your employees equipped to do their job remotely? • What is your business continuity plan and have you tested it? Can your business continue to operate efficiently if all your employees had to work remotely? • What are guidelines for assessing the threat level to your business? What steps will you take as the threat increases? This team will prepare and have response plans in place should the threat level increase. • How does this impact your supply chain? While your community may not be impacted, have you mapped your supply chain to determine sourcing of ingredients, parts or equipment to assess potential risk and how that will impact productivity of the business? • Do you need to implement travel restrictions and who is monitoring the changing state of play there? • What FAQs do your employees need to be equipped to answer? For example, if you make a product in China, are your employees able to confidently answer when a customer asks if it has been exposed and if they are in danger of getting sick upon receipt of the product? • What is your response when employees ask if your major corporate meeting is still on for May? What if they ask about limiting domestic travel? • Are you legally allowed to take an employee’s temperature? 4. Assign Team Members to Implement Strategy Determine the strategies that best support your business and assign team members to implement them. Possible actions include: • Establish an ongoing process to communicate health and safety measures to all employees, through email and other digital media, staff meetings, hanging posters, water-cooler conversations, etc. • Communicate and continue to communicate with customers, vendors, business partners, etc. know what measures you are taking to address coronavirus. • Assess the risk of business travel and follow recommendations for safe business travel. • Assess your essential functions and determine what is needed to maintain critical operations. • Explore flexible and/or remote work if needed. 5. Revisit or Create Planning and Response Documents. Use the current coronavirus situation as an opportunity to develop or revisit existing plans and procedures, including your: • Business Continuity Plan • Emergency Response Plan • Outbreak Response / Pandemic Plan • Event Cancellation Policy • Sick Leave, Business Travel, and Remote Work Policies and Procedures 6. Stay Engaged, Up-To-Date, and Flexible • Continue to monitor news provided by official channels, including the CDC, WHO, local and state governments and health departments. • Ensure that your sick leave policies are flexible and consistent with public health guidance and that employees are aware of these policies. • Maintain regular communication with employees and business partners as the situation changes and develops. • Continue to use your cross-functional team to adjust to the changing needs of your business to maintain successful operations. • Share best practices with other businesses in the community (especially those within the supply chain), chambers of commerce, and associations to improve community response effort. Sincerely, Glenn Schiffbauer Santa Fe Green Chamber of Commerce www.sfsustainablebusiness.com 505.428.9123 |
Congress Finalizes COVID-19 Coronavirus Response Act: Prepare To Provide Paid Sick Leave And FMLA https://www.fisherphillips.com/resources-alerts-congress-finalizes-covid-19-coronavirus-response-act
WaFd Bank Launches Small Business Lifeline in Response to Coronavirus“WaFd Bank” today announced it will immediately start offering small business lines of credit up to $200,000 interest free for 90 days to businesses affected by Coronavirus (COVID-19). WaFd Bank is committing up to $100 million in lines of credit to help the business community weather this financial disruption. “Businesses are already struggling as our neighbors limit shopping and eating at restaurants to follow public health orders to avoid large crowds. We want to offer these impacted business owners a lifeline to help them make it through this crisis,” says President and CEO Brent Beardall.
WaFd Bank will expedite processing for lines of credit up to $30,000 to existing and new credit worthy clients in their regional market who have been in operation at least two years and can show a 10 percent loss in revenue due to the impact of Coronavirus. Please contact a WaFd banker to learn more, or visit us at www.wafdbank.com<http://www.wafdbank.com>
Washington Federal Bank, a national bank with headquarters in Seattle, Washington, has 234 branches in eight western states. To find out more about WaFd Bank, please visit our website www.wafdbank.com<http://www.wafdbank.com>. WaFd Bank uses its website to distribute financial and other material information about the Company.
Contact: Michelle CoonsMichelle A. CoonsRegional President – New Mexico4400 Osuna Rd. NE Albuquerque, NM 87109208 Washington Santa Fe, NM 87501505-341-7370 – (m) 505-504-4068 | @WAFDbank