General Response

  1. This is an unprecedented time and we have a unique responsibility as leaders.  Demonstrate strength through transparency, vulnerability and clear communication.  Now is a time to practice kindness and flexibility with ourselves and with the people in our spheres of influence.
  2. Proactively check trusted sources for information.  Scams and phishing related to COVID-19 are on the rise.  Remind employees to validate the authenticity of any attachments and links in emails.
  3. Please continue to support local businesses to the best of your ability!

 

Corona-virus and General Health Recommendations

The current and most accurate information about the Coronavirus in:

  1. The US: Centers for Disease Control COVID-19 Response Page
  2. Globally: World Health Organization (WHO)
  3. Colorado: Colorado Department of Public Health and Environment (CDPHE)

 

Operating During COVID-19

  1. Follow the CDC Guidance for Businesses for employers to implement now in the workplace to limit person to person contact
  2. Specific guidelines from the State of Colorado for  non-healthcare businesses that remain open
  3. OSHA’s guidance on preparing your workplace for COVID-19
  4. Recommendations for cleaning and disinfecting after someone with COVID-19 has been at your location
  5. Working Remote Checklist

 

Business Losses & Relief

  1. Start tracking all coronavirus related costs and losses.  These will be essential for any potential stimulus programs that may be forthcoming.
  2. Pikes Peak Small Business Development Center is a single source point for Federal, State of Colorado and local programs to provide aid and support to businesses. The Warehouse is checking this site daily and staying abreast of the evolving processes and programs.  Contact us for support in navigating these resources.
  3. Disaster Economic Relief Loan Assistance -U.S. Small Business Administration (SBA) Disaster Economic Relief Loans are available to Colorado businesses.  The Warehouse will be able to help coach businesses through the SBA loan application process. The loans are:
    1. likely not available to those with existing access to financing
    2. capped at up to $2 million per eligible company
    3. carry a rate of 3.75 percent for businesses.
  4. Tax Relief :
    1. The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the coronavirus.
    2. IRS federal tax payment deadline extended by 90 days for businesses owing less than $10M.  Everyone still has to file on time, though.
    3. Some payroll taxes will be refundable.  Pay as usual now but you may be able to claim come of it back on your quarterly filing. Stay tuned.
  5. Insurance Implications
    1. In general, most business policies that include coverage for lost income do NOT cover situations where a governmental authority requires businesses to shut down.  Most policies also specifically exclude property damage caused by a virus. Before business income coverage applies, there must be property damage that leads to the cessation of a business.
    2. New endorsements are being created to address some specific aspects of Coronavirus’ impact, but they may cost more to add.

 

Labor and Employees

  1. The Families First Coronavirus Response Act is a new Federal law that applies to all companies under 500 employees:
    1. Expanded access to FMLA leave for employees who need to care for children without other care/school options (applies to employers under 500 employees).
    2. Federal Emergency Paid Sick Leave requires employers to provide all employees with 80 hours of paid sick leave for some qualifying coronavirus-related reasons
  2. Colorado Department of Labor and Employment (CDLE) website has the latest information for employers and workers in Colorado
  3. Employer’s Council Coronavirus (COVID-19) Guide provides extensive employer information on human resources and other legal considerations
  4. CDC posters advising employees to stay home if they are sick:

 

Sales Channel Disruptions

  1. Facebook Small Business Grants Program – Facebook is offering $100M in cash grants and ad credits for up to 30,000 eligible small businesses
  2. Marketing webinar for Manufacturing CEOs (scroll 2/3 of the way down the page to find it under Videos and Webinars section)

 

Supply Chain Disruptions

  1. Manufacturers in Colorado are joining together to share information and problem-solve.  Consider ways your operations may be leveraged or shifted to support the production of critical devices and supplies at this time.
  2. Manufacturer’s Edge resource page provides:
    1. a message board to give company updates and connect suppliers/manufacturers across the state.
    2. links to participate in Response/Recovery webinar series hosted every Friday
  3. Join the Manufacturer’s Virtual Happy Hour webinar weekly on Thursdays at 4pm to connect, address Supply Chain challenges and discuss the status of the sector.
  4. There is talk of a employment/layoff clearinghouse database to connect manufacturers who are laying off workers and manufacturers who are in desperate need of more workers.
  5. The Warehouse is continuing to searching for relevant, valuable resources

 

Long Term Planning & Disaster Preparedness

  1. Disaster Recovery and Continuity Guide
  2. Know Your Finances Checklist that may help secure your business’ financial well-being
  3. Independent Insurance Agents & Brokers of America Disaster planning toolkit,
  4. Department of Homeland Security – Official website providing information on preparing for natural disasters.

 

Local Business Support Resources:

  1. Loveland Business Development Center
  2. City of Loveland Economic Development
  3. Larimer Small Business Development Center