April 10, 2020

New & Need to Know: 4-10-20

The latest updates from FCA's April 10, 2020 Daily COVID-19 Update

  • NEW: CDC issues interim guidance on Implementing Safety Practices for Critical Infrastructure Workers Who May Have Had Exposure to a Person with Suspected or Confirmed COVID-19, including Printable Flyers for Workplaces
  • NEW: Senators Call on Federal Labor Agency to Invoke Emergency Protocols to Provide and Enforce Safety Standards for All Essential Businesses and Workers Amid COVID-19 Pandemic
  • NEW: SBA issued new instructions for non-bank lenders to offer loans under the PPP with federal financial regulators issuing a new rule for PPP lenders, removing regulatory barriers so that more banks can participate in the program. Information for new prospective lenders is available here. Companies can find a lender in their area by visiting the SBA website here.
  • NEW: DOL Expands Temporary Guidance for Respirator Fit-Testingto All Industries During COVID-19 Pandemic
  • NEW: DOL Issues Alert to Keep Retail Workers Safe During Coronavirus Pandemic
  • NEW: The Treasury Department and Federal Reserve announced new and expanded lending programs under the CARES Act, notably the Main Street Business Lending Program, which will provide up to $600 billion in new financing for businesses with up to 10,000 employees or $2.5 billion in annual revenues. Main Street New Loan Facility information is available here. Main Street Expanded Loan Facility information is available here.
    • Treasury will also invest CARES Act funds into a new Municipal Liquidity Facility that will offer up to $500 billion in lending to states and municipalities. Additional funds will go to the existing Primary Market Corporate Credit Facility, Secondary Market Corporate Credit Facility and Term Asset-Backed Securities Loan Facility—all to support $850 billion in liquidity for businesses impacted by COVID-19
  • NEW: SEC Provides Temporary, Conditional Relief for Business Development Companies Making Investments in Small and Medium-sized Businesses
  • NEW: Treasury and IRS Extend Over 300 Tax Filing, Payment and Administrative Deadlines
  • NEW: IRS provides guidance to taxpayers with net operating losses
  • NEW: IRS urges taxpayers to use electronic options; outlines online assistance
  • NEW: Secretary DeVos Rapidly Delivers More Than $6 Billion in Emergency Cash Grants for College Students Impacted by Coronavirus Outbreak
  • ‪FEMA plans to issue a temporary final rule tomorrow which will mandate all exports of specified PPE to require explicit approval by FEMA. The rule instructs that exports of such PPE will be detained by Customs and Border Protection for FEMA inspection. FEMA will determine whether to return the PPE to domestic use, issue a prioritized order for the goods, or allow the shipment to move forward.
  • UPDATED: FCA has compiled list of COVID-19 Financial Assistance Programs by State, County, and City Find it here on Fragrance Creators' Member Portal (Log in required. Contact Malory Todd for log-in info.)
  • UPDATED: COVID-19 Foreign Export Restrictions and Other Trade and Trade Related Measures (as of April 7) Find it here on Fragrance Creators' Member Portal (Log in required. Contact Malory Todd for log-in info.)