NIP Group, a market leader in the insurance program business located in Woodbridge, New Jersey, is proud to announce the launch of its COVID-19 resource center to assist construction contractors and other small- and medium-sized businesses immediately source and generate the short-term funds they need to pay their workers and key suppliers.
Federal, state and local officials have pledged to make many resources easily available to help small businesses during this challenging time. NIP Group designed its COVID-19 resource center to review and summarize the resources available in each program including how to apply and who to contact. Construction contractors can access these resources by visiting www.nipgroup.com/insurance-programs/grading-excavation-contractors-insurance.
The COVID-19 resource center is broken down into four distinct tabs each focused on assisting construction contractors in various ways. The first section delves into emergency funding, outlining the Paycheck Protection Program, economic injury disaster loans, state and local resources, as well as information on grants from private and non-profit companies.
The second tab helps construction contractors and other businesses by focusing on relief programs, namely short-term loan modification programs, federal, state and local tax relief, utility resources, and lease information. The third tab focuses on shared work programs, which were developed to specifically help employers and employees withstand a slowdown in business such as the impact of COVID-19.
Finally, the COVID-19 resource center provides various laws, rules, and regulations such as closure orders, mass gathering limitations, unemployment insurance guidance, and more. Leadership action plans are available for construction contractors to determine their cash burn rate and liquidity.
"As a medium-sized business ourselves, we realized that it was incredibly difficult to find and access the resources that we have been hearing so much about in the news, online, and through other reputable sources," said Richard Augustyn, CEO of NIP Group. "We decided to take it upon ourselves to aggregate all the content that we could find around emergency funding, relief programs, shared work programs, and other information so that we could develop a resource center that would provide seamless access for construction contractors and other businesses."
In addition to the complete COVID-19 resource center available to businesses, NIP Group has deployed a group of navigators to support any questions or concerns that organizations may have in regard to securing funding. NIP Group understands how difficult this time is for all individuals and organizations, which is why it is striving to do its best to provide businesses with access to the resources they need during this time.