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The Elevator Industry is Essential
As the COVID-19 pandemic continues to impact all corners of society, the elevator industry proves to be vital in keeping other essential businesses and entities functioning through this fight. Below you will find model letters for your employees establishing their work as essential.
- The closure of the buildings might create a great opportunity to service customers while buildings are unoccupied. However, in some cases it could present a challenge if local authorities don’t perceive our industry as “essential services.”
- The closure of the many customer’s offices has made billing a challenge. Get email addresses for your customer contacts in accounts receivable when possible to avoid having mailed invoices sitting unread until offices open back up. Additionally, payments might be more easily processed during this period on credit cards rather than getting a check processed. Some businesses are waiving credit card fees, if charged, at this time in order to assist.
- During this time, it might be useful to remind sales staff to reach out to existing customers to remind them of your company’s commitment to them.
- Review your contracts with your customers and your vendors during this period. When the dust starts to settle from this period, it is possible that disputes from this time will seek resolution in the court system.
- If payroll is an issue, talk to your bank about funding from the CARES Act. There may be funds that you can access related to Congress’ recently passed relief package, but funds will go quickly. A second round of funding is already being discussed in Congress to assist small businesses.
- If you are approved for funds from the CARES Act, note that 75% of the funds must be used for payroll. The bank that initiates the loan will make the later determination about the way the funds have been used, so to provide clean documentation, keep separate general ledger accounts and/or separate bank accounts for these funds when possible.
Additional Guidance and Resources
Explore a collection of articles and references to help keep your environment and workplaces safe.