CORONA UPDATE TO NFPT TRAINERS AND ASPIRING TRAINERS
Gyms are starting to re-open, but we know things won’t be the same, at least for awhile. Adjustments for social distancing and sanitation are the new focus. Unfortunately, this may mean less members coming in to workout while more staff is required to monitor and clean. With this in mind, consider, as a certified personal trainer, how you can support your local clubs by working alongside them. Your local clubs may be experiencing an employment deficit given their immediate closures, this may be an opportunity for you, as a CPT, to partner with your local club, and grow with them in this new normal. This may mean taking on additional monitoring and maintenance tasks, and maybe even being a supportive partner in bringing your know-how for virtual training to the club and its’ members.
If you’re working outside of a health club, as an independent personal trainer, you may have had to get creative since the stay-at-home orders were issued …and, even as we get out and start getting back at it, you’ll still be better off in your business to continue to use your new creatives and skills. The most necessary new way that trainers are getting in front of their clients is by going online. If you haven’t already, or if you need additional support on taking your online training services to the next level, join us to learn more about virtual training.
NOTE: these were time sensitive documents/applications which may no longer provide eligibility for funding due to deadlined application dates. We have left these here for informational purposes only.
WHO CAN APPLY?
SMALL BUSINESSES include ALL Businesses with 500 or fewer employees:
- For-profits and Nonprofits
- Veteran Organizations
- Tribal Business Concerns
- Sole Proprietorship’s
- Self-Employed and Independent Contractors
WHERE CAN I APPLY?
With any SBA Lender or Federally Insured Credit Union. Note: we use a Huntington Bank PDF download for illustration purposes only, we do not endorse any one source of lending institution.
WHEN CAN I APPLY?
- Starting April 3, 2020, small businesses and sole proprietorships can apply for and
receive loans to cover their payroll and other certain expenses through existing SBA
- Starting April 10, 2020, independent contractors and self-employed individuals can
apply for and receive loans to cover their payroll and other certain expenses through
existing SBA lenders.
- Other regulated lenders will be available to make these loans as soon as they are
approved and enrolled in the program.
- Fill out the CARES BORROWER APPLICATION in order to be prepped and ready to go when you apply with your bank/financial institution (the more prepared you are the better off you will be)
- You can apply for both an Economic Injury Disaster Loan (through the SBA) and a Payroll Protection Program Loan, but there may be no duplication in the use of funds.
- The maximum loan amount is 2.5 times your monthly payroll, with a maximum interest
rate of 4%.
- A portion of the loan can be forgiven. Subject to certain restrictions, the portion of the loan eligible for
forgiveness can include payments made during an eight-week period following your loan funding (the
eight weeks cannot go beyond June 30, 2020) for the following: payroll and benefits, interest payments on
mortgages, rent payments, health insurance, and utility payments.
- These will be unsecured loans that do not require personal guarantees.
- You may be able to defer payments up to 12 months.
- It is our understanding that these loans are on a first come first serve basis (when the allocated relief funds run out, it may no longer be possible to apply for these SBA relief loans)
- The Tax Foundation has very specific and detailed FAQs that cover many different scenarios and links to respective state resources
We’re rooting for you! We’re praying for the industry that we love! And, together, we will get through this – fitness isn’t a trending business, it’ll be here long after this is history. We hope that you and your loved ones are safe and able to find reasons, blessings, and encouragements that turn frowns into smiles.
Stay healthy, stay strong – and stay positive!