There's relief in sight. Let us know if your aware of additional resources to help our businesses, industry, or families at a national level.
Senate Passes Deal to Replenish Coronavirus Relief Funding
The U.S. Senate passed legislation Tuesday, April 21, 2020, to replenish funding for several coronavirus small-business relief programs championed by NAR and available to REALTORS®. The House is expected to take up the measure later this week.
Under the Senate agreement, the Paycheck Protection Program (PPP) will receive $310 billion in new cash, while the Economic Injury Disaster Loan (EIDL) fund will receive an additional $50 billion. The bill sets aside $60 billion of PPP funding exclusively for small and medium-sized community banks. learn more
Paycheck Protection Program (PPP) Update Urgent Request from Congresswoman Lesko
The Paycheck Protection Program has run out of funding. Congresswoman Lesko is supportive of increased funding to the PPP to help businesses. The Senate is holding up funding. She wants to hear from those businesses who still need access to it and perhaps didn’t get their applications in before the program lapsed. Please consider sharing your stories as soon as possible with Congresswoman Lesko and the Republican Whip at www.republicanwhip.gov/ppp
Congress Agrees on $2 Trillion Stimulus Package
Earlier today [Friday, March 27, 2020], The House of Representatives approved the $2 Trillion stimulus package that the Senate passed earlier this week. The $2 trillion support package includes $350 billion for small business relief. According to NAR, the stimulus package consists of a provision that the National Association of REALTORS® Advocacy Team has actively worked alongside Congress to achieve - an inclusion of unemployment aid that also would apply to independent contractors. This category traditionally is not included in unemployment laws, but one that many real estate professionals fall into. read article
NAR - What the $2T Stimulus Package Means for You
NAR fought for provisions in the bill that extend financial relief to independent contractors and commission-based workers. read article
CNN - What's in the $2 Trillion Coronavirus Stimulus Bill
Congressional lawmakers put the finishing touches on a $2 trillion stimulus bill to respond to the coronavirus pandemic, with cash and assistance for regular Americans, Main Street businesses and hard-hit airlines and manufacturers, among others. The Senate passed the bill, 96-0, and the House is set to follow suit Friday.
CNN reporters read through the entire legislation. get list of highlights
FOX 10 - Coronavirus Stimulus FAQ
After the Senate passed a historic $2.2 trillion economic relief package to help the devastated U.S. economy and to bring a sense of temporary financial relief to millions of Americans who lost their jobs practically overnight due to the COVID-19 pandemic, many are wondering exactly when and how they’ll receive their money. read FAQ
NY Times - FAQ on Stimulus Checks, Unemployment and the Coronavirus Bill
The $2 trillion relief bill would send money directly to Americans, greatly expand unemployment coverage and make a number of other changes. read FAQ
The CARES Act: What You Need to Know About Emergency Small Business Relief
One of the most encouraging sections of the CARES Act is the nearly $350B available for small businesses through the Paycheck Protection Program. These funds will be made quickly available for eligible small businesses through approved banks and lenders. Find out if your business is eligible and more CARES Acts facts and information here
. learn more
Webinar Recording: Economic Security Act Financial Assistance for REALTORS® Through the CARES Act
Watch this invaluable webinar that will educate you on how you can access the available benefits from the CARES legislation during this time of declining or non-existent business. Take this opportunity to learn how you can get financial assistance to help you run your business for the balance of the year. watch the webinar Though this webinar was provided initially to just Certified Residential Specialists (CRS) members, the Arizona state chapter of the Residential Real Estate Council has received permission to share this information with all REALTORS®. Bryan Anderson, President of Arizona CRS/RRC, provided this recording.
Homeowners Facing Hardship Get Mortgage Payment Leeway
Fannie Mae and Freddie Mac unveiled a mortgage payment deferral program for up to two months for struggling homeowners. read article
IRS: Coronavirus Tax Relief
The Internal Revenue Service has established a special section focused on steps to help taxpayers, businesses and others affected by the Coronavirus. This page will be updated as new information is available. visit the website
The Treasury Department and Internal Revenue Service announced Saturday, March 21, that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. read news release U.S. Department of the Treasury Coronavirus News Internal Revenue Service Coronavirus News
Families First Coronavirus Response Act of 2020
On March 18, 2020, the US Senate passed, by a margin of 90-8, the Families First Coronavirus Response Act of 2020 (the “Act”), aimed at providing comprehensive relief to families and businesses impacted by the 2019 novel coronavirus and resulting COVID-19 pandemic. The Act was quickly signed by the President. read the Act
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U.S. Small Business Administration (SBA) Disaster Loans
The SBA approved loans for Arizona businesses affected by COVID-19. Individual businesses can be eligible for up to $2 million through the program. The loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of COVID-19’s impact. get more info and apply