Coronavirus and Construction Update: New Directive Eases Path for Smaller Paycheck Protection Loans Treasury-SBA Guideline Applies to PPP Loans Under $2 Million Tom Ichniowski May 13, 2020 No Comments But industry groups say more guidance is needed for forgiveness and loans of $2 million or more.Read More
Coronavirus and construction Construction Loses 975,000 Jobs in April, Due to COVID-19 Impacts Tom Ichniowski May 8, 2020 2 Comments Industry's unemployment rate jumps to 16.6% from March's 6.9%.Read More
Coronavirus and Construction Treasury Extends PPP Repayment Deadline, but Eligibility Confusion Persists Tom Ichniowski May 5, 2020 No Comments AGC says unless Treasury clarifies new guidance, some construction firms will repay loans, lay off workers.Read More
Coronavirus and Construction New 'Paycheck Protection' Loan Guidelines Worry Contractors Tom Ichniowski May 1, 2020 No Comments AGC CEO cites "severe and urgent" concerns, urges Treasury Secretary to revise new PPP guidance.Read More
Coronavirus & Construction Nearly 40% of Firms Have Laid Off Workers, New AGC Survey Says April 14, 2020 The survey also revealed a steep increase in the share of firms reporting that an owner had canceled an upcoming project.Read More
Nearly 40% of Contractors Have Laid Off Workers, AGC Survey Says April 13, 2020 No Comments An April 10 survey from AGC revealed that 53% of firms report they have been directed to cancel current projects or work scheduled to start within 30 days.Read More
Coronavirus and Construction Update: After Senate Setback, Fate Of COVID Loan Program Unclear Tom Ichniowski April 9, 2020 No Comments Schumer says a deal might be reached but McConnell, McCarthy continue to back PPP-only infusion.Read More
Coronavirus and Construction Treasury Eases Construction Firms' Path to COVID-19 Paycheck Protection Loans New federal guidance changes earlier SBA rule Tom Ichniowski April 7, 2020 One Comment Treasury's action responds to complaint from Associated General Contractors of America.Read More
AGC Slams SBA Rule for Key CARES Act Business Loans Tom Ichniowski April 6, 2020 No Comments AGC says SBA interim regulation places extra requirement on construction firms, contradicting the Treasury interpretation.Read More
Coronavirus AGC Slams House Coronavirus Bill's Medical/Family Leave Provisions Tom Ichniowski March 16, 2020 No Comments Contractor group says having to "front" costs for leave provisions would severely hurt firms' financial health.Read More