OPEN MIC
CONFERENCE CALL
It shall be the policy of the ROCKHEAD GROUP USA, LLC (“Rockhead”) to be in strict compliance with all Federal and State Antitrust laws, rules and regulations. Therefore:
1) These policies and procedures apply to all membership, board, committee and other meetings of Rockhead, and all meetings attended by representatives of Rockhead.
2) Discussions of prices or price levels is prohibited.
3) It is a violation of Antitrust laws to agree not to compete, therefore, discussions of division of territories or customers or limitations on the nature of business carried on or products sold are not permitted.
4) Boycotts in any form are unlawful. Discussion relating to boycotts is prohibited, including discussions about blacklisting or unfavorable reports about particular companies including their financial situation.
5) It is Rockhead's policy that all meetings attended by representatives of Rockhead where discussion can border on an area of antitrust sensitivity, Rockhead's representative request that the discussion be stopped and ask that the request be made a part of the minutes of the meeting being attended. If others continue such discussion, Rockhead's representative should excuse himself from the meeting and request that the minutes show that he left the meeting at that point and why he left. Any such instances should be reported immediately to the management of Rockhead.
6) It is Rockhead's policy that a copy of these Antitrust Compliance Policies and Procedures be given to each officer, director, committee member, official representative of member companies and Rockhead employees annually and that the same be read, or understood at all meetings of the membership of Rockhead.
TODAY
April 16
th
, 2020
CURRENT TOPIC
OUR SPONSOR
•
Contains EPA Pre-approved
active ingredient for use
against COVID-19
(SARS-CoV-2)
•
Fast application = time & labor
savings vs alternatives
•
High coverage/Low Waste
•
Excellent Value – 50%+ savings
vs equivalent Lysol cans
•
Versatile – facilities, surfaces,
workstations, vehicles,
equipment
•
Rockhead Member Benefits
Ramsol Rs1 Bulk
Disinfectant
Add a Footer 7
Application VIdeo
Add
ahttps://www.youtube.com/watch?v=6edkYKs GLZUFooter
Other Offerings
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•
Coronavirus Response
•
Bulk Liquid Disinfectant (Foster 40-80)
•
Hand Sanitizer
•
Face Shields (TBA)
Thank you and Stay Safe!
SPECIAL GUESTS
LUKE TIEMANN
SPECIAL GUESTS
CHAD M. BARTHOLOMEW
Senior Relationships Manager
SPECIAL GUESTS
Art DePompei
Senior Community
Developer Lender
SPECIAL GUESTS
Matthew P. Delguyd
SPECIAL GUESTS
Ryan Terrano
HOST
Jon Kaplan
OUR ROUNDTABLE PANEL
ART - BANKER
MATTHEW - LAWYER
RYAN - FINANCIER
LUKE – PURCHASING
MEMBER QUESTIONS
Sandi Sinnamond, Rumford Stone
If ALL funds not used in 8 weeks, (I.e. allowed for forgiveness), can the balance be used for same Act-specified costs as long as the remaining funds are used by Sept 30? I see circumspect notes about fraud and audits, and want to walk a very straight line!
Here’s an explanation of my current basic takeaway based on MULTIPLE websites and reading thru the actual CARES act:
• Loan funds have to be used for the payroll, group insurance, ER 40a(k) match, etc.
• The first 8 weeks of funds used for these precise items can be documented and attestation sent to bank to apply for forgiveness
• Lender has to decide in 60 days of borrower’s application (and SBA will fund within 90 days of date of forgiveness)?
• The balance of the funds will not be forgiven but can be used for the same precise costs through Sept 30, 2020 (My question!)
• Payments deferred x 6 mths, Interest @ 1% will accrue though, no pre-payment penalty, matures in 2 years
MEMBER QUESTIONS
Duane Naquin, Stone Interiors
1. Can we get a PPP Loan and Economic impact disaster loan?
2. If the Disaster loan proceeds are used for expenses that are not eligible under PPP Loan? 3. Ex ample: Vendor payments?
4. Payments to 1099 subs?
MEMBER QUESTIONS
Brian Burns, Cutting Edge Countertops
1. Is the forgiveness portion of the payroll based on pay period wages or actual wages paid? This timing affects the amount of forgivable payroll calculated.
2. If we delayed rent payments for a month (April) and caught them back up during the 8 week period, would both payments perhaps a total of 3 rent payments count? As long as the non-payroll related items are 25% or less of the forgivable amount of course
3. Has there been any clarification on what it means to restore payroll by June 30th? Does that mean they must be on payroll by June 30th? Be there for a week, a month? What about after June 30th?
4. Will bonuses and temporary wage increases count towards payroll costs during the 8-week period?
MEMBER QUESTIONS
Vince Trento
1. Can they explain exactly how the items below will be calculated based on the 8 weeks following the loan disbursement?
On the non-payroll related
expenses-• What are the specific items under Utilities that can be considered part of the forgiveness calculation? • What costs are considered "transportation”?
• Will we be able to consider both rent and mortgage interest in our calculation or will it be an either/or scenario, particularly if we own the real estate and lease it to our operating entities?
We opened a separate bank account for each company to deposit the PPP funds into and will transfer monies weekly into our operating accounts for the "forgivable" payroll and operating expenses. We felt this would be a clear way to account for how the funds were being applied to each transfer and keep our regular operating funds separate from the PPP proceeds.
MEMBER QUESTIONS
Kelly O’Connor, Reliable Granite & Tile
1. We submitted the application for the EDIL loan and received a confirmation that SBA received it on April 8thbut
no communication since then.
2. On the application there was not a spot to request an amount. How is the amount determined?
MEMBER QUESTIONS
Kelly O’Connor, Reliable Granite & Tile
1. If we receive the PPP loan will it matter if our company is not horribly affected by the pandemic? 2. If we are able to stay open and we keep revenue flowing in? If few employees miss time? I guess the
summarized question is do we need to show some type of hardship from the pandemic for the loan forgiveness?
3. How strict are they on the reduction of workforce? If we fire people because of performance or other
reasons does that affect the loan forgiveness? Or is it only based off of a layoff type reduction of workforce?
PLEASE MUTE YOUR COMPUTER OR PHONE IF YOU’RE USING BOTH
SBA LOAN
•
Payroll
•
Utilities
•
Rent
•
75% Forgivable if
spent right
•
Low Interest
AMEX
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Material Purchasing
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General Expenses
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Third Party Vendors
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Extend Payment Terms
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Cash Retention
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Points or Cashback
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Save on Vendor Fees
WELLS FARGO
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Consumer Financing
•
Improve Close Rate
•
0% Financing
FINANCIAL SUPPORT
ROCKHEAD MEMBER EXCLUSIVE
FIVE STEPS ON CREATING A DIGITAL
SHOWROOM AND CLOSING SALES
This Open Mic Call will cover the tools needed to:
•
Continue getting customers - get traffic to your site
•
Creating a virtual customer experience
•
Develop call to action for your leads
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Tools needed to close the sale
•
Building your business into the future
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