SBA Issues Final Application Form for New Small Business Loans

The U.S. Small Business Administration and the U.S. Treasury Department issued a new application form early today, April 3, and published a draft interim final rule for the new Paycheck Protection Program Loans (PPP). 

These loans, which provide small businesses -- including metalcasters…

New Small Business Loans Under the CARES Act Open April 3: Eligibility, Application, and Key Terms/Benefits

The CARES Act includes the Paycheck Protection Program (PPP) for small businesses. The PPP provides short-term cash flow assistance to small businesses, including foundries, and their employees deal with the immediate economic impact of the COVID-19 pandemic. Loans are made by lenders certified…

Congress Approves Historic Coronavirus Relief Package with Loans for Small Businesses

On Friday, March 27, President Donald Trump signed into law a bipartisan package, the Coronavirus Aid, Relief, and Economic Security (CARES) Act (H.R. 748), which offers $2 trillion in health care and economic relief to Americans and businesses. The massive aid package contains a combination of…

DOL Indicates Shut-Down Employees Won’t Qualify for Emergency Paid Sick Leave or FMLA

On March 28, 2020, the U.S. Department of Labor (DOL) released an updated guidance document on the implementation of the paid sick leave and expanded family and medical leave benefits in the Families First Coronavirus Response Act (FFCRA).

The updated DOL guidance document appears to…

COVID-19 Has Caused A Shortage Of Face Masks - What Can Foundries Do as They Face Shortages?

The COVID-19 crisis is creating a huge demand and shortage of NIOSH approved N95 respirators and diverting supplies from industry to health care workers. Protecting health care workers is a priority, but what happens to foundries who must protect workers and stay in compliance with Occupational…

AFS Compiles Changes to Tax Filing Deadlines Due to COVID-19

The federal government and several states have extended their deadlines to file and pay 2019 tax returns because of the coronavirus (COVID-19) pandemic.

The IRS pushed out the filing date for 2019 tax returns from April 15 to July 15. Individual states have announced changes as well. AFS…

States Must Designate Metalcasting as Critical Manufacturing Sector

Governors and local officials across the nation have signed various “stay-at-home” or “shelter-in-place” orders in an increased effort to slow the spread of COVID-19.  These orders vary in their scope in the restricted activities and affected industries but they typically address: (1) continuing…

AFS Pushes For Key Provisions In Stimulus Package to Benefit Metalcasters

American Foundry Society – March 2020

Key Recommendations for Congressional Stimulus Package

As Congress negotiates a third stimulus package, the American Foundry Society (AFS) has worked closely with the National Association of Manufacturers (NAM) and the U.S. Chamber of…

Small Foundries in All U.S. States Eligible to Apply for Low-Interest Loans Due to Covid-19

The Small Business Administration has created a comprehensive coronavirus page with all of its resources in one place. You can find that page here.

The SBA announced it would offer disaster assistance loans for up to $2 million for foundries and other small businesses affected by the…

AFS Urges Administration to Classify Metalcasting as Essential Industry

AFS continues to advocate for metalcasting during the COVID-19 crisis facing the U.S. and the metalcasting supply chain. On Friday, March 20, AFS sent a letter to Vice President Mike Pence in his role leading the COVID-19 task force, asking the administration to identify foundries, their supply…