Update Regarding COVID-19 and Message from MAAR President April 3, 2020
A Message from Michelle Talbott Rogers,
Mobile Area Association of REALTORS® President 2020
Greetings to you all, my fellow associates and friends,
It must surely seem we are inundating you with information. We apologize for the overload but everything is occurring so rapidly it seems we cannot keep up with it all… (full message here)
Updates on the COVID19
NAR Funds Members TeleHealth For REALTORS®
In response to the current health crisis, starting right now, NAR is supporting members by funding two months of Members TeleHealth as a benefit for those who do not currently have access to telemedicine through their insurance or Medicare plans. There is an ongoing significantly reduced rate available thereafter. With this plan, you and your family can access professional medical treatment from the comfort of home, 24/7/365. Enrollment is limited. Sign up by April 15. (learn more
REALTOR® Party Update
This communication from NAR to all Members describes the many ways NAR is working to guide and support REALTORS® and the real estate industry during the coronavirus (COVID-19) pandemic. Using the links below, you’ll find up-to-date, relevant information on how to ensure your health and safety, the virus’s impact on the economy and your business, its impact on NAR activities, and what NAR is doing to help. You can also visit nar.realtor
for a live feed of the most up-to-date information available.
NAR FAQ on SBA Loan Programs in CARES Act
NAR’s Federal Advocacy team has been working closely with Congress and the Administration to ensure the interests of REALTORS® and their clients are protected in any federal action in response to COVID-19. (read more here)
The FAQ specifically focuses on the new 7(a) Paycheck Protection Program loans and the Economic Injury Disaster Loan program with the $10,000 advance grant. It includes information on which businesses are eligible, how much they can get from each program, what the loans can be used for, forgiveness requirements, and where and how businesses can apply. There are links to resources from the federal government, the loan and application websites, as well as information from other organizations… Coronavirus SBA CARES Act FAQs
Treasury Releases SBA 7(a) Paycheck Prot’n Program loan application;
Applications open 4/3 and 4/10
Small businesses and sole proprietors can apply beginning this Friday, April 3; independent contractors and the self-employed can apply beginning next Friday, April 10. Applications go directly to SBA lenders, which you can find through the SBA site here
There are still some questions as to if a small business should include independent contractors in its employee numbers and payroll costs; what we know for certain is that independent contractors can apply for their own 7(a) PPP loans. NAR is seeking clarity on that question from the Treasury and the SBA and will have the answer soon.
NAR will be posting an SBA-Program specific FAQ focusing on the 7(a) PPP loans and the Economic Injury Disaster Loans, which you can apply for here
. (Businesses can apply for both, but the funds cannot be used for the same purposes, and the $10,000 advance grant is not forgiven if you also receive a forgivable PPP loan.)
AREC Notice About CE
Due to the disruption in continuing education (CE) course offerings because of COVID-19, the deadline for completing the required CE to obtain or maintain an active real estate license for the upcoming license renewal period has been extended to December 31, 2020. (read more here)
As always, the MAAR staff is here to assist all members, please use email as the best way of communicating with the staff.
As updates become available, please look for emails from the Association along with checking Facebook and the Association website
The Mobile Area Association of REALTORS® provides its Members with education and resources enabling them to conduct their business successfully and profitably while bringing value to the community by advocating private property rights, property ownership, and community service.