The Coin Laundry Association presents some of the latest information pertaining to the laundry industry in light of the COVID-19 pandemic. In this video presentation, CLA President/CEO Brian Wallace provides information on several important topics including our recent “pulse survey” and the government loans available to businesses.
The CLA issued a request for laundry owners to participate in a follow-up survey. In a prior survey, we had more than 400 responses. We want to know how laundry owners are doing amid the current business climate due to the coronavirus. The survey closes on Friday, June 19. Please participate if you own a self-service laundry business: https://www.surveymonkey.com/r/XR6LSR8
The Paycheck Protection Program has been amended by legislation to change the required payroll spend eligible for forgiveness from 75% to 60%. The time period during which the funds may be spent has been extended to 24 weeks from the date of disbursement. The last opportunity to apply for the PPP loan will be June 30, 2020.
The EIDL (Economic Injury Disaster Loan Emergency Advance) loan programhas reopened to all businesses. This program provides up to $1000 per employee as a grant up to $10,000. The SBA also offers loans to small businesses at low rates and long terms. You can apply for this loan program directly through the SBA at https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/economic-injury-disaster-loan-emergency-advance. $60 billion has been added to fund this program.
June Edition of PlanetLaundry
The June edition of PlanetLaundry, the official publication of the Coin Laundry Association, continues coverage of the COVID-19 situation and its effects on the laundry industry with featured articles including:
- CLA Board Chair Brian Grell of Eastern Funding providing a positive viewpoint regarding the strength of our community to come out of this situation on a high note
- Jeff “The Laundry Doctor” Gardner discusses what he’s experiencing regarding Wash-Dry-Fold services and what to expect
- Cody Milch discusses future of the laundry business beyond our current experience
- Store Owner Rob Maes talks about automatic doors as important for contact-less washing experience
- Jason Rehor provides information about laundromat insurance during COVID-19.
- Human resources expert Claudia St. John interviewed with editor Bob Nieman for “HR in the Age of COVID-19”
- Cary Lipman penned the cover story “Buyer Beware” highlighting some of what NOT to do when considering owning a laundry business.
Subscribe to PlanetLaundry at www.planetlaundry.com/subscribe.
Laundromats Are Essential Video
Help us spread the word by downloading and sharing our public service announcement about the essential nature of the laundry business by visiting www.coinlaundry.org/essentialvideo
CLA members are invited to our Coffee and Conversation virtual networking event on Friday, June 19th at 9:30 a.m. CT.
“Why Choose the Laundromat Business” webinar will be held on June 25 at 2 p.m. CT. Register here: https://register.gotowebinar.com/register/3714827984963414028
Join the CLA as a member by visiting www.coinlaundry.org/joinclanow.