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Employer Checklist: How to Support Workplace Mental Wellness as you Reopen

Mental HealthAs talks of reopening start happening and, as an employer, you begin to make a strategy for what this will look like, Mental Wellness should be in the forefront of your checklist.

Mike Veny, Mental health speaker, drummer and best-selling author shares a powerful checklist on how to support your employees during this time.  This list includes:

1. Change the way you view everyone.

2.  Understand there are different levels of anxiety.

3.  Remember everyone has a unique home situation.

CLICK HERE to download the entire list and advice on how to implement!

_________________

http://www.mikeveny.com

213-458-8369

mike@mikeveny.com

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Here are ways for New Yorkers can help during this crisis

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We know New Yorkers are resilient and are ready to push up their sleeves and help their community during times of struggle, however we are in uncharged waters.  If you are looking for ways to help out during this time, the Capalino+Company team has published an excellent list to show creative ways you can help during this time!  Stay Safe!

Here are ways for New Yorkers can help during this crisis:

Click Here for the original post!



Financing and Loan Options to Weather Covid-19 Crisis

moneyAs we know there is so much information out there right now.  If you are looking for different ways to find funding during the Covid-19 Pandemic, please read below for a helpful article written by Sally Anne Hughes of Hughes Klaiber.

 

Over the past few days, we have been gathering information on financing and loan sources to help companies weather the COVID-19 crisis. Here are some general thoughts and recommendations. We will add to this as more information becomes available.

1. Banks.

Unlike 2008, banks currently have strong balance sheets. Therefore they are potentially well positioned to help businesses with liquidity issues.

  • First step, call your existing banks and lenders.  Your existing banker may be the best option for access to additional credit, to extend or reinstate a line of credit. If you have not already done so, call your banker.
  • If you have any existing debt, and your business has been impacted by COVID-19, you may be able to defer payments. Most major banks are offering deferrals on debt for 90 days. On March 21, Governor Cuomo issued an Executive Order stating that banks (those subject to the jurisdiction of the NYS Department of Financial Services) must grant a forbearance to any person or business facing financial hardship as a result of the COVID-19 pandemic for 90 days. If they do not, it would be deemed “an unsafe and unsound business practice.”
  • The bank is going to want a story as to how you plan to come out of this. Put together a plan now.
  • Here are sites for various banks on the Coronavirus response, numbers to call, etc.:

2. State, local and community loan programs.

  • NYC has a range of programs: click here
  • Here is an option for certain NYC neighborhoods:  click here
  • There is also a program for business in Philadelphia: click here
  • Los Angeles micro loan program: click here

3. Small Business Administration (SBA).

  • In normal times, SBA loans (including 7(a) and 504 loans) are issued by banks, and the loans are guaranteed by the SBA if the borrower defaults.
  • An SBA disaster loan is issued directly by the SBA, for counties that are declared disaster zones, which includes all of NYC and most surrounding areas. Here is the site for the SBA disaster loan application. https://disasterloan.sba.gov/ela/  You may want to access the site during off-off hours, it has been slow and down for maintenance. Rates are 3.75%. Disaster loans are capped at $2 million. They cannot be used to acquire fixed assets or to pay back shareholder loans. TBD how long a disaster loan will take to get approved. The SBA is supposedly rolling out a new processing system with a large mortgage processor on Monday, March 30, that will take application time down to 3-5 days. The SBA is also providing daily webinars on how to apply. Check here.
  • The relief package passed by the Senate on March 25 2020), the CARES Act, includes major modifications to the 7(a) loan program, designed to help small businesses meet their ongoing expenses and keep employees on payroll. The portion of the loan that is used for payroll and debt obligations may be forgiven, subject to reductions if number of employees is reduced compared to last year. Funds used for other purposes must be repaid.
  • The maximum amount available under this program is the lesser of a) 2.5x the average monthly payroll total; or b) $10 million.
  • This legislation still needs to go to the House and be signed by the President.
  • TBD what provisions will be included to support business owners who have a previously issued SBA loan.
  • There is a provision in the act that provides payment deferment relief on 7(a) loans for a period of not more than one year. TBD how this will play out.
  • This program will administered through bank lenders, not directly through the SBA. Another reason to call your banker.
  • Every impacted business owner who thinks they may need to access this program can prepare now by setting up a data room with all of the typical information a bank will need, so that you can quickly provide it to your banker when the program is up and running. Information to pull together should include a description of how their business has been impacted in terms of revenues, current cash position, detail of costs you have been able to or are trying to cut (rent included), detailed schedule of the monthly expenses of the business, payroll information, plus three years business tax returns, 12/31/2019 year end financials, business debt schedule, entity documents, and copies of leases.
  • You may not be able to get BOTH a disaster loan and a 7(a) loan if they are both to be used for payroll purposes.

4. Facebook Small Business Grants Program: Facebook is offering $100 million in cash grants and ad credits to businesses experiencing disruptions as a result of COVID-19. The application is not yet live, but you can sign up to receive information here.

5. Factoring. Several factor companies are currently providing accounts receivable and purchase order financing. Although fees will vary, the cost associated with factoring is likely to be significantly higher than most other type of financing. However, you may be able to get financing in 5-7 days, with less paperwork. Find out if you can pick and choose which accounts to sell and which invoices to finance, and if there are minimum size requirements.

Please contact us at info@hughesklaiber.com for any help, updates and introductions to lenders we know and have worked with. Please bear in mind that this information is evolving. Please check with us or your banker for any recent updates and changes to this information.



Charity Profile – Girls Inc

Combs & Co Logo 11-16 (2)Combs & Company’s last charity shout out of the season for 2017 is for Girls Inc!  The network of local Girls Inc. nonprofit organizations serves girls ages 6-18 at more than 1,400 sites in 400 cities across the United States and Canada. Their research-based programming is delivered by trained professionals who focus on the development of the whole girl, supporting, mentoring, and guiding girls in an affirming, pro-girl environment.  There, girls learn to value their whole selves, discover and develop their inherent strengths, and receive the support they need to navigate the challenges they face.

Girls Inc. girls live healthy and active lifestyles and are less likely to engage in risky behavior; they are eager to learn, successful in school, and more likely to graduate from post-secondary education; and they display diligence, perseverance and resilience.



Charity Profile – St. Jude Children’s Research Hospital

Combs & Co Logo 11-16 (2)St. Jude Children’s Research Hospital has always been very near and dear to my heart.  In 1989, my brother, Matthew Combs, was diagnosed with Acute Lymphoblastic Leukemia (ALL) and was treated at St. Jude Children’s Research Hospital in Memphis, TN.  Matt is the longest surviving male bone marrow transplant to have been performed at St. Jude Children’s Research Hospital, dated June, 19th, 1991.  He is now an oncology nurse giving back to critical care patients and paying forward his gift of life.

During this time of year my family is reminded of the true holiday spirit and what a blessing St. Jude Children’s Research Hospital has been to so many through the years.

Happy Holidays!

Susan

 



Charity Profile – BeadforLife

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Combs & Company has been a supporter of BeadforLife for the past 3 years and continues to be fascinated at all they do!

Check out an excerpt from their website as they tell their story best!

“Paper bead jewelry was only the beginning. We could have stayed the course, working with one group of women to create fair trade products that we could sell for them in the U.S. market – but we had bigger dreams. We created an entrepreneurial business training program, giving women living in poverty the skills and confidence they need to go out and create their own local businesses before they graduate. Salons, shoe stores, and produce stands are cropping up in Uganda and women are making money and living out their dreams. Not only do they have income, but now they have the confidence to be sustainable business women – meeting their own needs and creating a generation of confident and capable children.

But we haven’t stopped there. We’ve taken the best parts of that original business program and created The Street Business School. These savvy women don’t make products (for us), they make progress! They are women who have dreamed of running successful businesses, and that’s exactly what they do when they graduate, only six months later! See the impact.

Now we’re taking this proven poverty eradication program to the world! We will partner with organizations around the globe to share our program, so that we can ignite the lives of one million women!”

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Charity Profile – iMentor

Combs & Co Logo 11-16 (2)Mentorship is very near and dear to our hearts at Combs & Company, that’s why we are supporting iMentor this holiday season.  iMentor builds mentoring relationships that empower first-generation students from low-income communities to graduate high school, succeed in college, and achieve their ambitions.

Looking to give some love?  There’s a lot to love with iMentor!



Charity Profile – Operation Homefront

Combs & Co Logo 11-16 (2)As mentioned earlier this week, Combs & Company is sharing the love with multiple charities this holiday season!  Next up is Operation Homefront!  Operation Homefront’s mission is to build strong, stable, and secure military families so they can thrive — not simply struggle to get by — in the communities they have worked so hard to protect.  For over fifteen years, the have provided programs that offer: RELIEF (through Critical Financial Assistance and transitional housing programs), RESILIENCY (through permanent housing and caregiver support services) and RECURRING FAMILY SUPPORT programs and services throughout the year that help military families overcome the short-term bumps in the road so they don’t become long-term chronic problems.

Looking to spread some holiday cheer?  Consider Operation Homefront!



Charity Profile: Puppies Behind Bars

Combs & Co Logo 11-16 (2)This December, Combs & Company, LLC decided to show some love to different charities that are making a different in our community and in the world.  Our first feature is Puppies Behind Bars. Founded in 1997, Puppies Behind Bars (PBB) trains prison inmates to raise service dogs for wounded war veterans and explosive detection canines for law enforcement.  Puppies enter prison at the age of eight weeks and live with their inmate puppy-raisers for approximately 24 months.  As the puppies mature into well-loved, well-behaved dogs, their raisers learn what it means to contribute to society rather than take from it. PBB programs bring the love and healing of dogs to hundreds of individuals every year.  The dogs bring hope and pride to their raisers, and independence and security to those they serve.

Looking to give some support this holiday season?  Check them out!

 



Happy Holidays from the Combs Crew!

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