MAFSI'S RESPONSE TO COVID-19

COVID-19 has created unprecedented challenges for MAFSI members, their customers and the public-at-large across North America. Firstly, the health and safety of our members is the most important. Our thoughts and prayers are with our members, their families and friends who have been diagnosed or affected by the virus. Please stay up-to-date on the ways to protect your health with sources such as the CDC and WHO.

Like so many of you, we are doing everything in our power to help our members navigate in these uncertain times. We ask that you stay safe and healthy, are patient with us and each other, and treat everyone with kindness. While this situation is unprecedented, we are optimistic that all of us will emerge stronger and more resilient.

We are here to support you throughout this crisis. We will be posting updates and more information here as it becomes available. In the meantime, you can reach us at 404-214-9474 or [email protected]. Thank you for your support of MAFSI, the foodservice industry, our countries, our citizens and each other.

Use the buttons to navigate to the Member's Only COVID-19 webpages. You will have access to more detailed information, webinar recordings, presentations, and other resources. 

 

United States COVID-19 Information

Canada COVID-19 Information

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Restaurateurs & Reps: COVID Trends and Solutions - Tuesday, October 27th - 11 am - 12 pm EDT

 

Join us for a webinar on Tuesday, October 27, 2020, from 11 am - 12 pm EDT to hear what trends and solutions restaurateurs are finding to be effective in maintaining profitability in the COVID environment.

Our panelists for this webinar will be two established restaurateurs, Ben Fileccia, Director of Operations and Strategy for the Pennsylvania Restaurant and Lodging Association and Anna Tauzin, Chief Revenue & Innovation Officer, The Texas Restaurant Association.

They will also give us their thoughts on where the industry is moving as we approach winter months and outdoor dining becomes a less viable solution for offsetting the restrictions which have been placed on indoor seating. How are operators planning for the various paths that could come out of the results of the upcoming election (a possible second wave or second shutdown)?

We will also discuss what makes this slowdown different for the industry outlook from the 2008 recession and what is being done on the state and national levels to ensure that the industry doesn’t collapse before we can begin a recovery.

All MAFSI rep and manufacturers members are encouraged to participate so please forward to others in your operation who are interested in engaging in the conversation.

We look forward to a great and informative session.

Date: Tuesday, October 27
Time: 11:00 am - 12:00 pm EDT

Register for the webinar in the Members' Only Section.
Let's get strong, Let's get ready!

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Balancing COVID, the Economy, and the Election - A market update webinar presented by City National Rochdale

Join us on Wednesday, October 28, 2020, from 1:00 pm - 2:00 pm EST with IMG Financial Group and one of their strategic partners, Vern Montross CFA Senior Vice President City National Rochdale, for a market update.

Listen in as Vern discusses the latest developments and insights on what's ahead for the economy and markets, as well as updates on the 2020 election. This webinar will be an open discussion, so we welcome your questions and thoughts.

Date: Wednesday, October 28, 2020
Time: 1:00 pm - 2:00 pm EDT
Register for the webinar in the Members' Only Section.

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 MAFSI-NAFEM-CFESA Town Hall Webcast -  Navigating Industry Recovery Together on Wednesday, September 30th at 12 noon EDT

MAFSI/NAFEM Town Hall: Navigating Industry Recovery Together - with Special Guest John Schwindt, CFESA - Wednesday, September 30th - 12:00 pm - 1:00 pm EDT

It’s time for Episode 3 of MAFSI/NAFEM: Navigating the Road to Recovery Together. Join Kevin Eaton, MAFSI president and president, Eaton Marketing Associates, Inc., Clearwater, Fla., and Rob Connelly, NAFEM president and CEO, Henny Penny Corporation, Eaton, Ohio, as they welcome special guest John Schwindt, CFESA president and vice president operations/general manager, Hawkins Commercial Appliance, Englewood, Co. Listen in as each of these industry luminaries share their perspectives on how the industry is managing through this 28th week of continuous change. All MAFSI, CFESA and NAFEM members are encouraged to participate.

All MAFSI, NAFEM and CFESA members are encouraged to participate so please forward to others in your operation who are interested in engaging in the conversation.

We look forward to a great and informative session.

Date: Wednesday, September 30th
Time: 12:00 pm - 1:00 pm EDT

Let's get strong, Let's get ready!

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MAFSI Member Webinar: Employer & Employee Benefits with IMG Financial Group, Inc.

Join us on Thursday, September 17, 2020, from 1:00 pm - 2:00 pm EST to discuss employer and employee benefits. Learn how to analyze your current benefits package for potential cost savings and identify additional available options.

Kate Langthorn and Chris Nardiello are independent financial advisors with IMG Financial Group in Houston, TX. Kate and Chris attended the 2020 MAFSI Conference in California and presented on comprehensive business financial plans as well as succession planning

A recording of the webinar is in the Members' Only Section.

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MAFSI/NAFEM Town Hall Webcast with FCSI - Navigating Industry Recovery Together on Wednesday, August 5 at 12 pm EDT

 

 

With Special Guest, Eric Norman, Chair, FCSI - The Americas

 

MAFSI/NAFEM Town Hall: Navigating Industry Recovery Together - with Special Guest Eric Norman, FCSI - Wednesday, August 5 - 12:00 pm - 1:00 pm EDT

Join Kevin Eaton, MAFSI president and president, Eaton Marketing Associates, Inc., Clearwater, Fla., and Rob Connelly, NAFEM president and CEO, Henny Penny Corporation Eaton, Ohio, as they welcome special guest Eric Norman, FCSI-The Americas chair and vice president, Clevenger Midwest, and share their perspectives on how the industry is managing through this 21st week of continuous change.   All MAFSI, FCSI and  NAFEM members are encouraged to participate.

All MAFSI, NAFEM and FCSI members are encouraged to participate so please forward to others in your operation who are interested in engaging in the conversation.
 
We look forward to a great and informative session.

Date: Wednesday, August 5
Time: 12:00 pm - 1:00 pm EDT
Register for the webinar in the Members' Only Section.
 
Let's get strong, Let's get ready!

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ITR Economics: An Industry Forecast Update on Wednesday, June 24 - Recording Now Available

 

Access the recording in the Members' Only Section

This webinar covered:

• Present the outlook for the market segments most important to the foodservice industry.
• Look at a system of leading indicators proven to signal cyclical turns in the economy and markets.
• Assess interest rate and other financial market trends, including the latest information on stock market performance.
• Consider your 3, 5, and 7-year planning needs and talk about the 2020s and how you should prepare for challenges and opportunities.
• Cut through the noise and present our expectation of both the human and the business impact.

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MAFSI/NAFEM Town Hall Webcast - Navigating Industry Recovery Together on June 17

 

 

MAFSI/NAFEM Town Hall: Navigating Industry Recovery Together - Wednesday, June 17th - 12:00 pm - 1:00 pm EDT

Join Kevin Eaton, MAFSI president and president, Eaton Marketing Associates, Inc., Clearwater, Fla., and Rob Connelly, NAFEM president and CEO, Henny Penny Corporation Eaton, Ohio, as they share their perspective on how the industry is managing through this 14th week of rapid change. This is a first-ever opportunity for the rep and manufacturing community to share information and perspective as the industry navigates through reopening and recovery.
 
All MAFSI and NAFEM members are encouraged to participate so please forward to others in your operation who are interested in engaging in the conversation.
 
We look forward to a great and informative session.

Date: Wednesday, June 17
Time: 12:00 pm - 1:00 pm EDT
Register for the webinar in the Members' Only Section.
 
Let's get strong, Let's get ready!

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May 21, 2020 - Webinar Recording Available

Rep Firm Legal/Contract Issues: COVID-19 Webinar - Thursday, May 21 at 4:00 pm EDT

Access webinar recording in the Members' Only Section.

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May 15, 2020 - Canada Update

Canada Emergency Wage Subsidy (CEWS) - Extended until August 29, 2020 

On Friday, May 15, 2020, the Canadian government decided to extend the CEWS by an additional 12 weeks until August 29, 2020. Extending the program will give workers greater confidence that they will continue to get the support they need during these difficult times. More details from the government are available here.

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May 12, 2020

SpecQuote Webinar Wednesday starts on Wednesday, May 13th

Live SpecQuote webinars will be held each Wednesday in May & June

Types of questions we'll answer during the webinar:

• What is SpecQuote?
• How does project information get transferred from SpecPath to AutoQuotes?
• How do I configure items, update model numbers, review the mini spec, add a dealer, etc?
• What if a project is updated in SpecPath and the project was already sent to SpecQuote?
• What information gets passed back to SpecPath from SpecQuote?
• Q&A

SpecQuote Webinar Dates

• Wednesday, May 13 SpecQuote Webinar - 1:00 pm EDT
• Wednesday, May 20 SpecQuote Webinar - 1:00 pm EDT
• Wednesday, May 27 SpecQuote Webinar - 1:00 pm EDT
• Wednesday, June 3 SpecQuote Webinar - 1:00 pm EDT
• Wednesday, June 10 SpecQuote Webinar - 1:00 pm EDT
• Wednesday, June 17 SpecQuote Webinar - 1:00 pm EDT
• Wednesday, June 24 SpecQuote Webinar - 1:00 pm EDT

Register for the webinar in the Members' Only Section.

*All webinars will cover the same information each week so you can register for the session that is most convenient for you.
*Even if you can't join a live session, register now and we'll send you the recorded webinar to watch at your convenience.

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SBLC Webinar Recording Available - Returning Employees to Work

Video Released for Webinar Returning Employees to Work which was held on Thursday, May 7

Access webinar recording in the Members' Only Section.

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May 4, 2020

Upcoming SBLC Webinar

Returning Employees to Work Webinar - Thursday, May 7 - 12:30 pm - 1:30 pm EDT

Please join us on Thursday, May 7 at 12:30 pm - 1:30 pm EDT, for a webinar from our legislative advocacy group, the Small Business Legislative Council (SBLC), on Returning Employees to Work after COVID-19.

As the country sets its sights on efforts to recover from the COVID-19 epidemic and reopen the economy, a critical element will be reopening businesses and putting employees back to work. This webinar will cover best practices and some of the most significant problem areas for small businesses to be aware of as they plan to bring employees back into the workplace.

The webinar will be presented by the SBLC’s Strategic Policy Director, Jessica Summers, Esq., who is also a Principal in the Employment Law Group at the Law Firm of Paley Rothman in Bethesda, MD.

After registering, you will receive a confirmation email containing information about joining the webinar.

Register for the webinar in the Members' Only Section.

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April 29, 2020 - Upcoming Webinar

City National Rochdale's Market Update Webinar - April 29, 2020 at 3:00 pm EDT

Given the volatility of today’s financial markets, IMG Financial invites members to join City National Rochdale for a special session to hear our latest thoughts on how the markets and economy are reacting to the COVID-19 pandemic and what to expect ahead as governments take action to address the crisis.  

Please join to hear directly from CEO Garrett D’Alessandro, CIO Tom Galvin, and Senior Portfolio Manager Charles Luke on market expectations.

Register for the webinar in the Members' Only Section.

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April 27, 2020 - Canada Update

The Canada Emergency Wage Subsidy is open for applications!

 The application process for The Canada Emergency Wage Subsidy (CEWS) is now available through CRA My Business Account. More details from the government are available here.

Who is eligible?

• Businesses (regardless of the number of employees)
• Individual employers 
• Partnerships
• Not for profit organizations
• Charities

that experienced a: 

• 15% reduction of their gross revenue in March; and/or 
• 30% reduction of their gross revenue in April or May. 

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Before you apply

Make sure your business details and direct deposit information for your payroll accounts (RP) are up to date. This will ensure that any payments to you will be processed quickly and easily.
You need to calculate the estimated subsidy for your business.

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Apply for CEWS

The subsidy will be processed at the payroll program (RP) account level, so you will have to file a separate application for each RP account. For an in-depth understanding of the online application requirements and input fields, refer to: CEWS application guide

There are three ways to apply:

1. MyBusiness Account 
2. Represent a Client 
3. A separate online application form 

Once an employer is approved for a specific period, they will automatically qualify for the next period of the program. However, those who will want to be eligible for more than two periods will have to continue to apply each month.

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After you apply

When to expect your payment
You should receive your payment within 10 business days if you are registered for direct deposit on your payroll account. Please allow for additional time if you are not registered for check delivery.

Include the subsidy on your returns
The Canada Emergency Wage Subsidy is taxable. You must include the amount of CEWS you receive on your Annual Return of Income (e.g. Corporation Income Tax Return, Partnership Return) when calculating your taxable income.

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Keep your records

You must keep records demonstrating your reduction in revenues and remuneration paid to employees. Read more about records you should keep

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April 21, 2020

An Alternate PPP Lender for Members Left Out of Round 1

If your company did not receive a PPP loan in the first round of funding, please look at Lendio.com as an alternate lender. They are getting rave reviews for delivering loans to small businesses, unlike some larger banks. The second round of PPP funding should be approved by in the next few days. You may apply at Lendio.com even if you already have a previous application into your bank.

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Sign up for our webinar this Thursday the 23rd at 4:00 pm EDT - The New Road Back for Reps and Manufacturers

Join us for the first in a series of MAFSI Town Hall Meetings to discuss how reps and manufacturers move forward and find the new road back to profitability.

Webinar Recording and Slides: CLICK HERE

Topic: The New Road Back for Reps and Manufacturers
Date: Thursday, April 23
Time: 4:00 - 5:00 pm EDT
Presenter: Alison Cody, Executive Director

Topics include:

•     How successful reps and manufacturers are navigating the new economy
•     Project Tracker - a joint effort by SpecPath, KCL and FCSI
•     Foodservice 101 - training program for all levels of industry experience
•     SpecQuote - a joint effort by SpecPath and AutoQuotes
•     SpecPath - including our new business intelligence/dashboards, category tracking/spec share, channel partner database, location/population tracking and more.

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Support Restaurants and Sign the Petition to Allow Flexibility for Restaurant Staff Re-Hires

MAFSI stands with our restaurant partners. Please support the members of the National Restaurant Association by signing this petition - https://actnow.io/relief to fix the PPP for restaurants.

Let Congress know that restaurants are different and need flexibility through the Paycheck Protection Program. They need to hire back their staff when they're able to open and not be forced to do it now, during mandated state shut-downs. Make your voice heard so that restaurants can survive today and once again thrive in the future.

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April 17, 2020 - Canada Update

Yesterday (April 16, 2020), the federal government decided to offer additional support to small businesses in Canada who are facing economic hardship and uncertainty during the COVID-19 (coronavirus) pandemic. The following new measures to support Canadian businesses so they can keep their doors open and their employees on the job:

The Canada Emergency Wage Subsidy (CEWS) will open online applications on April 27, 2020. CEWS provides a 75% wage subsidy to eligible employers for up to 12 weeks, retroactive to March 15, 2020. Online applications will open April 27 and officials expect to have processed 90 percent of claims by May 4 with payments landing later that week. Eligible employers will be able to apply for the CEWS through the Canada Revenue Agency's My Business Account portal.

Expanding the Canada Emergency Business Account (CEBA) to businesses that paid between $20,000 and $1.5 million in total payroll in 2019. This new range will replace the previous one between $50,000 and $1 million and will help address the challenges faced by small businesses to cover non-deferrable operating costs. Since the launch of the CEBA on April 9th, more than 195,000 loans have been approved by financial institutions, extending more than $7.5 billion in credit to small businesses.

The government intends to introduce the Canada Emergency Commercial Rent Assistance (CECRA) for small businesses. The program will seek to provide loans, including forgivable loans, to commercial property owners who in turn will lower or forgo the rent of small businesses for the months of April (retroactive), May, and June. Implementation of the program will require a partnership between the federal government and provincial and territorial governments, which are responsible for property owner-tenant relationships. It is working with the provinces and territories to increase rent support for businesses that are most impacted by the pandemic and we will have more details to share soon.

For more Canada COVID-19 information and updates, please visit our COVID-19 Canada Webpage.

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April 13, 2020

CNR Weekly Update: The Sun Rises in the West 
Progressing to the Next Stage

Friday, April 17, 2020 12:00 PM EDT/11:00 AM CDT

Register for the webinar in the Members' Only Section.

Webinar Description: Join Vern Montross and Paul Single for a special webinar on Friday, April 17th at 11:00 AM CDT.  Hear their latest thoughts on how the markets and economy are reacting to the COVID-19 pandemic and what to expect ahead as governments take action to address the crisis. It will be an open discussion so we welcome your questions and thoughts.

Kate Langthorn and Chris Nardiello are independent Financial Advisors with IMG Financial Group in Houston. As a preferred MAFSI vendor, they both attended the MAFSI 2020 conference and presented on business succession in addition to overall comprehensive business financial planning. They are available as a resource for MAFSI members. Topics of discussion include:

• Benefit Reviews- Premium Reviews and Cost Analysis
• Tax Planning- Maximizing Qualified Retirement Plans, Roth IRA Conversions, etc.  
• Detailed Portfolio Analysis- Do you know what you own inside your portfolio and why?
• Business and Succession Planning- Do you have a plan to maximize the value of your ownership in your business when you transition out and set up the new owners for success?

Please feel free to contact them directly with any questions you may have.

Kate Langthorn & Chris Nardiello
713-331-1563 
[email protected]
www.imgfinancialgroup.com

Kate and Chris have also provided access for all MAFSI members to register and attend the market update weekly calls with City National Rochdale. City National Rochdale is one of their strategic investment partners. The featured speaker is Vern Montross, CFA, Senior Investment Consultant. City National Rochdale approaches wealth management in a very pragmatic, academic and factual format. Register for the webinar in the Members' Only Section.

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April 9, 2020 - Canada Update

Canada Emergency Business Account (CEBA) - Now Open

The Canada Emergency Business Account is part of the federal government’s loan and loan-guarantee program for small and medium-sized businesses affected by the COVID-19 pandemic.​ The $25-billion program is now open to applicants and provides a $40,000 loan that is interest-free until Dec. 31, 2022.

Qualifying businesses apply online through the bank or financial institution that holds their primary business operating account.

​CEBA loans are backed by the government, and up to 25 percent of each loan, or $10,000, is eligible for forgiveness if the rest is paid on time (by Dec. 31, 2022). For those unable to repay at that time, the loan can be converted into a three-year term loan at an interest rate of five percent.

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April 7, 2020

PPP Loan Terms Changed - April 6, 2020

Last night (April 6, 2020), Treasury announced NEW CHANGES to the Paycheck Protection Program (PPP) which impact your current PPP loan which requires action on your part:

New Formula for $100,000K capped employees

The most impactful for rep firm owners is now the $100,000 payroll cap for employees is to be considered cash compensation only, and non-compensation benefits (healthcare, retirement, taxes) should be calculated on top of it AND employee federal taxes should now be a part of the calculation.

For example, if you have an employee who makes $150,000 in salary, then your re-calculation should look like this:

$150,000 Salary for fictitious employee:

$100,000 capped cash compensation

+ $5,000 taxes (Federal, State and Local)

+ $10,000 healthcare costs

+ $5,000 retirement benefits

$120,000 revised payroll costs / 12 months = $10,000 per month x 2.5 months = $25,000 for this $150K employee.

This change means our fictitious company should receive an additional $4,000+ in loan funds for this employee over previous PPP loan guidelines which would have had the payroll costs for this employee at $20,833 for the 2.5 month term.

What if you have already applied for your PPP loan?

The document says that is your loan has not yet been processed by the bank you can amend it. If it has already been processed you may be stuck with the amount you reported.

Either way, MAFSI recommends that you contact your bank immediately.

From Treasury document - Question 17:

Question: I filed or approved a loan application based on the version of the PPP Interim Final Rule published on April 2, 2020. Do I need to take any action based on the updated guidance in these FAQs?

Answer: No. Borrowers and lenders may rely on the laws, rules, and guidance available at the time of the relevant application. However, borrowers whose previously submitted loan applications have not yet been processed may revise their applications based on clarifications reflected in these FAQs.

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April 2, 2020

Update to Paycheck Protection Program - Interim Final Rule

The SBA has just issued changes to the Paycheck Protection Program (PPP) as Interim Final Rule until further notice.

See the Interim Rules on the Paycheck Protection Program which opens for applications tomorrow, April 3.

This is an update to the information presented on MAFSI's call this afternoon. Please visit the Treasury website for more information.

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SBLC webinar on the CARES Act for small businesses, with an emphasis on the Paycheck Protection Program (PPP)

Access the Webinar Recording

The presentation recording and PDF is available now in the Members' Only Section.

In this webinar, we will be discussing the provisions of the new Coronavirus Aid, Relief, and Economic Security (CARES) Act which are most important for you to know about now with a special emphasis on the Paycheck Protection Program.

The webinar will be presented by the SBLC’s President and General Counsel, Paula Calimafde, and Strategic Policy Director, Jessica Summers, both from the Law Firm of Paley Rothman in Bethesda, MD. Special guest, Paul Merski, Group Executive Vice President, Congressional Relations and Strategy, for the Independent Community Bankers of America will be joining us to discuss some of the small business loan provisions.

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April 1, 2020

April 2nd MAFSI Webinar: Payroll Assistance Programs for MAFSI Rep Firms ONLY

Access the Webinar Recording

The presentation recording and PDF is available now in the Members' Only Section.

When: Thursday, April 2nd - 4:00 pm - 5:00 pm EST

Description: Join us for a MAFSI Rep-Only Town Hall Webinar to discuss the United States' Paycheck Protection Act and Canada's Emergency Wage Subsidy.

Who can attend: Rep Members Only

Presenter: Alison Cody, MAFSI Executive Director

Disclaimer: This call is informational-only in nature. You must check with your accountant, lawyer and/or banker before acting on any issues discussed on this call.

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March 31, 2020

Paycheck Protection Act (PPA) Loan Application Released - Apply April 3

The Treasury has released information on how to apply for the Paycheck Protection Act Loan. In the Members' Only Section you will find the guidance for the loan which provides for your payroll costs to be reimbursed by the government for eight weeks.

Access Loan Information

You may fill out the application now and start applying on April 3. 

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Update on Coronavirus Aid, Relief, and Economic Security Act (CARES Act)

The SBLC is continuing to monitor the relief packaged (H.R. 748) which was passed by the Senate last night.  They are hopeful that the bill will pass the House tomorrow and they will follow up thereafter with further analysis and insights.

Read the Full Bill Here

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March 26, 2020

March 31st Webinar with Allieds on the Economy and Black Swans (Rep Firm Principals Only and Non-NAFEM Manufacturers)

Managing Uncertainty: How to Handle Black Swans in the Economy

Join us for a joint allied association webinar on Tuesday, March 31 from 2:00 pm – 3:30 pm EDT

Access the Webinar Recording

The presentation recording and PDF is available now in the Members' Only Section.

VERY IMPORTANT: For MAFSI members this webinar is open to Rep Firm Principals Only because we are limited to 600 attendees per association.

Rep Firm Principals: Check your email for an invitation. If you do not see it, email Alison Cody at [email protected].

Manufacturer Members: Your company was contacted through NAFEM.

Non-NAFEM Manufacturers: Check your email for an invitation. If you do not see it, email Alison Cody at [email protected]

Brought to you by CFESA, FCSI, FEDA, MAFSI & NAFEM

The term black swan was popularized by finance professor and former Wall Street trader, Nassim Taleb, who describes a black swan as an event that is beyond normal expectations that is so rare even the possibility that it might occur is unknown, has a catastrophic impact when it does occur, and is explained in hindsight as if it were actually predictable. The COVID-19 black swan was followed by the Saudis’ decision to significantly discount oil prices, disrupting the marketplace and providing the world with a second black swan.

Health concerns, a dramatic decline into correction territory for the S&P 500, and declining oil and copper prices have combined to create a high level of uncertainty about what to expect from an economic perspective for the rest the year. This presentation brings an objective, numbers-driven approach to bear on these trends.

We will learn what precedents we can look at that give us some idea of what to expect and if recent events suggest that a bona fide recession is unfolding for 2020. We will also look at the economic signals we should be watching for, and cover what we expect to see in the months ahead.

Our webinar will be presented by Alan Beaulieu, President and principal of ITR Economics. ITR predicts future economic trends with 94.7% accuracy rate and 60 years of correct calls.  Alan has a reputation as an accurate, straightforward economist, and has been delivering award-winning workshops and economic analysis seminars in countries across the world to thousands of business owners and executives for the past 30 years. As the co-author of Prosperity in the Age of Decline, he is one of the country’s most sought-after economists, and a good friend to all of our organizations.

This webinar is only open to the members of CFESA, FEDA, FCSI, MAFSI and NAFEM.

After registering, you will receive a confirmation email containing information about joining the webinar.

Questions? Please contact us at [email protected] or 404-214-9474.

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DOL Releases Guidance and Employer Model Notice to Post for FFCRA

Senate Reaches Agreement on Coronavirus Aid, Relief, and Economic Security Act (CARES Act)

The Senate has reached agreement on a 2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES Act) although details have not been released. Next, the package will be voted on by the House (how and when TBD) and then approved by the White House.

As we discussed yesterday on the Small Business Legislative Council (SBLC) webinar, the CARES Act may have provisions for loans called "Small Business Interruption Loans" which may be administered by the SBA.

It is important to note that last week the SBA started offering SBA Disaster loans for COVID-19.

SBA Disaster Loans and SBA administered Small Business Interruption Loans as part of the CARES Act are two different types of loans.

1. SBA COVID Related Disaster Loans are long-term low interest loans that must be available in your state and must be paid back.
2. SBA administered Small Business Interruption Loans (in the CARES Act) may include some loan forgiveness (although there are provisions, including not furloughing or laying off employees ). There was talk in the original bill of making these loans being “fee-free” but that remains to be seen. More info on the CARE Act Small Business Interruption Loans will be released once the bill is approved.

Additionally, there is an implication that you cannot use one loan for the same relief that you use the other, so please research the difference before applying for either.

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Yesterday's SBLC Webinar on Small Business and COVID-19

Access the Webinar Recording

The presentation recording and PDF is available now in the Members' Only Section.

In addition to a CARES Act overview, the presentation includes information on the Families First Coronavirus Response Act (“FFCRA”).

We are awaiting the recorded version of the call and will email it to members. It will also be posted to the Members' Only section, once available.

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IRS issues FAQs on extension of filing and payment deadlines

In Notice 2020-18 (PDF), the Treasury and IRS extended the time from April 15th to July 15th for filing Federal income tax returns and paying the income tax due in order to provide relief for companies and individuals from economic loss caused by the COVID-19 crisis. Yesterday, IRS issued answers to frequently asked questions FAQs related to this Notice. IRS plans on updating these FAQs periodically. This was done to quickly answer all the questions being asked from the change in income tax filing deadlines.  It is anticipated that more formal guidance will be issued on this Notice.  Note that the deadline for making contributions to IRAs for 2019 is extended to July 15, 2020 (Q & A 17).

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March 24, 2020

Second live webinar on Small Business and COVID-19 from the SBLC scheduled for today at 4:30 pm EST.

The first SBLC webinar scheduled for 12:30 pm is full. To accommodate all members, they will be airing a second live webinar session today (March 24) at 4:30pm EST.

If you wish to participate in the second session please click this link for 4:30 pm webinar - this will take you to MAFSI member page where you will find the webinar registration.

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March 23, 2020

COVID-19 Small Business Webinar – Tuesday, March 24 - Tomorrow at 12:30 pm - 1:30 pm EST

Please join us tomorrow for a webinar on small businesses and COVID-19. It will take place tomorrow on Tuesday, March 24 from 12:30 pm - 1:30 pm EST.

Please find the details and registration link below.

This webinar by the Small Business Legislative Council (SBLC) will address the difficult issues that MAFSI small businesses are facing in light of the COVID-19 threat, particularly when it comes to managing employees and business closures. This will include providing an overview of the new and existing laws that businesses will need to navigate during this unprecedented time. There will be ample time for Q&A.

Register now! - this will take you to MAFSI member page where you will find the webinar registration link

The webinar will be presented by the SBLC’s Strategic Policy Director, Jessica Summers, Esq., who is also a Principal in the Employment Law Group at the Law Firm of Paley Rothman in Bethesda, MD.

After registering, you will receive a confirmation email containing information about joining the webinar.

For the United States, MAFSI is a member of the Small Business Legislative Council (SBLC), an independent coalition of more than 600 national trade and professional associations that works to maximize the advocacy and presence of small business on legislative and federal policy issues and they will be counseling us on US legislative items. In Canada, we are working with our Canadian members on legislative issues/updates. We have formed a COVID-19 Task Force of members from both countries and we will be releasing more information to you in the next few days. Although this webinar addresses just US legislation all Canadian members are welcome to attend.

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March 22, 2020

COVID-19 has created unprecedented challenges for MAFSI members, their customers and the public-at-large across North America. Firstly, the health and safety of our members is the most important. Our thoughts and prayers are with our members, their families and friends who have been diagnosed or affected by the virus. Please stay up-to-date on the ways to protect your health with sources such as the CDC and WHO.

Secondly, we are monitoring the legislative situation closely. For the United States, MAFSI is a member of the Small Business Legislative Council (SBLC), an independent coalition of more than 600 national trade and professional associations that works to maximize the advocacy and presence of small business on legislative and federal policy issues and they will be counseling us on US legislative items. In Canada, we are working with our Canadian members on legislative issues/updates. We have formed a COVID-19 Task Force of members from both countries and we will be releasing more information to you in the next few days.

We will be providing you with updates on the following:

• An analysis of the soon-to-be-passed Coronavirus Aid, Relief, and Economic Security Act or the CARES Act as it relates to small businesses in the United States. Please see this CARES Act update article from Paley Rothman, the law firm that represents the SBLC.
• What the Families First Coronavirus Response Act (“FFCRA”) means for small businesses and their employees in the USA. Please see this article on the FFCRA from Paley Rothman.
• An analysis of Canada's COVID-19 Economic Response Plan and what it means for both small businesses and families in Canada.
• An economic outlook by one of MAFSI’s economists as well as micro business barometers from our members.
• Insight into how your fellow members our handling this crisis.
• Insight into how our channel partners are handling this crisis.

Like so many of you, we are doing everything in our power to help our members navigate in these uncertain times. We ask that you stay safe and healthy, are patient with us and each other, and treat everyone with kindness. While this situation is unprecedented, we are optimistic that all of us will emerge stronger and more resilient.

We are here to support you throughout this crisis. We will be posting more information in the new few days as it becomes available. In the meantime, you can reach us at 404-214-9474 or [email protected]. Thank you for your support of MAFSI, the foodservice industry, our countries, our citizens and each other.

Video Message from MAFSI President, Kevin Eaton on COVID-19

 

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MAFSI IS…

Everywhere food is. And everywhere you are.

275 rep agencies, 260 manufacturers and 2,400 members strong.  Spanning North America, feeding 300 million people and changing an industry.

From mom and pop restaurants, to colleges, hospitals, major chains – we’re there.  With the people, and the products - moving an entire industry further than ever before. And as members, we get to reinvent it.  We get to make it better, and we make it different.

We get to make reps and manufacturers proud of how they go to market.

We get to reinvent foodservice every day. We get to make a difference. In a job..in a profession built around great products and great people. We...are...MAFSI.

Click here to read more about What Makes a MAFSI Rep Different.

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MAFSI's Core Focus and Programs…

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SpecPath® Is…

The industry's first, and only, 11-40-00 specification tracking software made especially for the foodservice industry. 

Relied on by over 700+ Rep and Manufacturer MAFSI users across the US and Canada; SpecPath® has quickly become a part of the foodservice equipment sales infrastructure. 

Since the program was launched on July 11th, 2016, the system has tracked: 

• 7,900+ Individual 11-40-00 Foodservice Projects
• 1,116,000+ Specified Items
• 1,800+ Manufacturer Brands
• Every Consultant in North America
• Every Dealer in North America
• And much, much, more.

What was once an arduous process is now simplified, through the effective tracking of origination, destination, and specification credits across North America. 

To find out more about SpecPath®, and how it can take your business to the next level, click here.

SaveSaveSaveSaveDate: Wednesday, August 5
Time: 12:00 pm - 1:00 pm EDT
Register for the webinar in the Members' Only Section.