As the end of 2020 rapidly approaches, Congress has several significant pieces of legislation to address before adjourning for the year, including federal government funding, national defense policy, and most critical to Home Furnishings Association members, additional COVID-19 relief. HFA has consistently advocated and urged Congress to pass further business
Home Furnishings Association members who borrowed $50,000 or less through the Paycheck Protection Program (PPP) received good news last week. The Small Business Administration has granted easier loan forgiveness. Those small borrowers won’t be penalized if they reduced the number of employees or trimmed payroll. HFA has asked for more.
The Home Furnishings Association and more than 100 other business groups continue pushing Congress for easy PPP loan forgiveness. So is Bobby Leon, owner of HFA member Chesnick Furniture in Victoria, Texas. And he helped win over his congressman. Congress has failed to advance any new COVID recovery legislation since
Furniture stores should get a second chance if the Paycheck Protection Program is extended, the Home Furnishings Association has told Senate leaders. The HFA joined other business groups in asking for improvements to the proposed Continuing Small Business Recovery and Paycheck Protection Program Act. The bill, introduced by Sen. Marco
Although Republicans in the U.S. Senate, including Senate Majority Leader Mitch McConnell, insist that liability protections are a top priority in the next pandemic relief bill, Home Furnishings Association members can expect some wiggle room in that hardline stance over the coming weeks, a senior economic analyst told retailers recently.
With COVID-19 cases rising sharply in the Galax, Va., area, Larry Blevins is working hard to make sure Guynn Furniture & Mattress Company’s three stores are operating safely. Right now, he said that’s more important than “staying behind the desk doing paperwork.” Blevins is chief financial officer for Guynn Enterprises,
Noted economist David Wessel, speaking on a Home Furnishings Association Covid-19 Webinar July 2, forecast a slow recovery – but fellow panelists appeared to surprise him with reports of strong furniture sales now. “I think the industry as a whole, not just furnishings but the whole home category, has come
Furniture & Floors North in Houlton, Maine, secured a Paycheck Protection Program loan and has weathered the coronavirus crisis pretty well. But when Kelley Fitzpatrick received a call from her congressman’s office asking about a proposed new federal lending program, she didn’t think only about her own business. “It’s probably
Congress really wants small businesses to keep borrowing through the Paycheck Protection Program. By unanimous consent Tuesday, the Senate agreed to a measure introduced by Sen. Ben Cardin (D-Md.) extending the popular lending program to Aug. 8. Late this afternoon, the House of Representatives took similar action. The PPP hit
Anecdotally, it seems that almost every member of the Home Furnishings Association tapped into the Paycheck Protection Program. For any qualifying furniture retailers that didn’t, it’s not quite too late. The deadline for applying to the small business lending program ends June 30. If you want to apply, you should
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