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Alexis Fermanis SIOR Director of Communications

SIOR Advocacy Update

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April 27, 2020

Center for REALTOR® Financial Wellness

Source: NAR
In this video, hear directly from quick-acting REALTORS®, with businesses of various structure and sizes, who successfully obtained Paycheck Protection Program (PPP) Business Loans and Economic Injury Disaster Loans (EIDL). Learn how to navigate the Small Business Administration website, what forms to have on-hand when applying, and tips for finding a lender in your area. Don't wait-funding is limited.

Click here to watch the video now.


April 22, 2020

Senate Passes Deal to Replenish Coronavirus Relief Funding

On April 21, the U.S. Senate passed legislation to replenish funding for some small-business relief programs. These programs have been championed by NAR and are available to REALTORS®.

Later this week it is expected for the house to take up the measure. The measure calls for the Paycheck Protection Program (PPP) to receive $310 billion in new cash and the Economic Injury Disaster Loan (EIDL) fund to receive an additional $50 billion. The bill also offers $60 billion of PPP funding exclusively for small and medium-sized community banks.

For more information on this deal, click here. Visit nar.realtor/coronavirusSBA to address frequent questions about what the PPP and EIDL programs are, who is eligible, and how to apply.


April 21, 2020

Webinar - Next Up: Insights for Commercial Real Estate

On April 15, 2020, NAR, in collaboration with SIOR Global, CCIM, IREM, RLI, and CRE, hosted a webinar to cover the latest news on legislation and SBA loan programs, key transactional guidance from NAR's legal team, and insights from commercial real estate executives—including 2020 SIOR Global President, Mark Duclos, SIOR. Access the complimentary webinar now here.

April 16, 2020

Where to Find More Information

Coronavirus Guide for Commercial Real Estate is your one-stop reference for additional information on all the topics discussed today. Bookmark this page to stay up-to-date on breaking legislative action, guidance on conducting business during COVID-19, and to view or share a recording of today’s webinar, which will be available by Monday, April 20.

 
COVID-19 HOTLINE: In addition, NAR's team is ready to help find answers to your questions, just call their COVID-19 hotline at 1-800-874-6500.
 
TEXT MESSAGE ALERTS: Stay in touch with NAR’s COVID-19 advocacy efforts by subscribing to REALTOR® Party Mobile Alerts. Text COVID19 to 30644 to receive a link on your mobile device leading you to the latest information.

Recent Updates

Tax Deadline Extension:
REALTORS® may now take advantage of extended tax deadlines applicable to existing 1031 like-kind exchanges and opportunity funds. Learn more about the details of the extension here.
 
Transactional Guidance
FAQs compiled by NAR’s Legal team will help you address new transactional issues that may come up in your day-to-day business. Review this helpful general guidance here.
 
SBA Loans
REALTORS® can begin applying now for several aid programs created by the $2 trillion dollar Coronavirus relief package signed into law at the end of last month.

Included in this same law is a significant expansion of unemployment insurance for the self-employed and independent contractors, who are not usually covered under traditional state unemployment benefit programs.  NAR has also prepared a comprehensive Pandemic Unemployment Assistance FAQ guide to help answer common questions. 

Below please find documents from the SBA, DOL and Treasury, which may be useful to you as well:


April 3, 2020


As an NAR Affiliate, SIOR is supported through NAR's advocacy efforts related to commercial real estate. As the industry continues to face challenges in the wake of the pandemic crisis, we are sharing some key updates from NAR's Federal Advocacy team.

NAR 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. Many REALTORS® are small businesses, or work with them as clients. In the most recent relief package passed into law, the "Coronavirus Aid, Relief, and Economic Security Act" or CARES Act, there were significant provisions aimed at assisting small businesses during this difficult time. The CARES Act appropriates more than $360 billion total for new Small Business Administration (SBA) programs - the 7(a) Paycheck Protection Program loans and the Economic Injury Disaster Loans (EIDL) advance grants program.

A downloadable PDF of NAR's SBA CARES Act FAQ has been made available.


 


For ongoing updates on NAR's efforts, please visit the following links. The information on these pages is continually updated by NAR's Federal Advocacy team. 

 

 

Media Contact
Alexis Fermanis SIOR Director of Communications