We are going through unprecedented times; they are scary and confusing. We are not trying to appear as an expert or know what you may want to do. But as one of our very important Customers-Partners, we want to share the information our Associations, Auditors, Advisors, and Legal Consultants have shared with us. Below are the highlights we feel are most relevant to our IGOs and fleets. We will continue to build on this and share additional information as it becomes available.
SBA Payroll Protection Program Loans
*Allow employers with less than 500 employees to apply for a loan equal to 2.5 x average monthly payroll costs (including gross payroll, payroll taxes, health care, and retirement).
*The incentive is for you to keep your employees employed and paid, instead of layoffs.
*During the eight-week period after the loan is approved, expenses for payroll costs (as defined above) plus up to 25% can be used to cover other costs (rent, utilities, and interest).
*Assuming loan funds are used for eligible costs, the loan should be forgiven.
*If a loan is found not eligible for forgiveness, there are low-interest repayment options (up to ten years).
*Contact your local bank to start the process as applications open up Friday 4/3/2020.
*Loan program is open through 6/30/2020. However, it is recommended you contact your bank and start the process as soon as possible.
* One-page applications are available online, and your accountant/tax advisor will be able to help you complete the one-page application.
*Self-employed individuals can also qualify (applications open 4/10/2020). If you are self-employed contact your bank and tax advisor for details on how the program applies.
*Individual taxpayers can expect between 4/17 – 4/30, an IRS rebate check of $1,200 per individual ($2,400 for married couples filing jointly), plus $500 for each dependent child.
*Begin to phase out for taxpayers whose adjusted gross income exceeds $150,000 for joint returns, $112,500 for the head of household, and $75,000 for all other taxpayers.
*The amount of recovery rebate a taxpayer receives is based on information reported on the taxpayer’s 2019 tax return (or 2018 if the taxpayer has not yet filed a 2019 return).
*If you don’t receive an advance recovery check, you still may be eligible for the rebate on your 2020 return should your tax filing situation change and make you eligible.
For more information…
*Expanded unemployment insurance benefits for individuals (including those who are self-employed) who become unemployed, partially unemployed, or are unable to work due to COVID-19 between January 27, 2020, and December 31, 2020.
*In general, the unemployment benefit is increased by $600 per week (referred to as Federal Pandemic Unemployment Compensation). Benefits may vary by state. Refer to this link, which provides a link to each state’s unemployment website.
Delay of Payment of Employer Payroll & Self-Employment Taxes Allow for More Cash Flow
*Delay the remittance of the employer 6.2% FICA payroll taxes to the IRS after March 27, 2020, through December 31, 2020. These taxes, which are deferred, 50% are due December 31, 2021, and the remaining 50% are due by December 31, 2022.
*Contact your payroll provider or accountant who is in charge of your payroll filings to get the process started. No application required, simply delay the payment.
The safety and health – physical, mental and financial well-being of our Associate-Owners is our First Priority. We continue to practice social distancing with over 150 staff operating remotely, staggered start times, additional handwashing, more frequent cleaning of common areas, and daily communication to all. We also have finalized our COVID-19 task force with work instructions when we do have a confirmed case. This was developed by working with local and state health departments, along with doing mock drills.
Thank you again for the trust you have instilled in us. We will come out of this stronger and more united than before. Thank you so much.
Jasper Engines & Transmissions
Dear JASPER Partner,
In my 44 years in the Automotive Industry, I have never experienced the difficult and trying times we are experiencing. The US Department of Homeland Security has deemed JASPER an “essential and critical supplier to the USPS, federal, state, and local agencies along with transportation companies." We have and will continue to operate in this capacity.
The Safety of our Associate-Owners is our First Priority; we began three weeks ago by closing our plants to visitors, we then looked at all work areas to have a minimum of 6ft. separation, and some Associates began working from home. Today, we have 150+ people working remotely. We then staggered shifts and breaks, repositioned break rooms and conference room furniture for separation, discontinued all meetings with more than ten individuals, and closed sinks and stalls in restrooms to create distancing. We have promoted additional hand washing and added a lot of sanitizers as well. Our cleaning of work areas and common areas has also increased. Two weeks ago, we began checking the temperature of all Associates every morning, and anyone making deliveries inside our buildings. We have also encouraged additional hand washing.
Due to the closings of schools and child care centers, and those with Higher Risk or concerns, we instituted a Paid COVID-19 Program (10 days) and additional Unpaid time to all. Our Executive Team meets at 8:45 am and 4:00 pm daily to review this ever-changing disease, and the strains it puts on our staff and manufacturing. We have had conferences with our major suppliers, and although we may have some parts disruptions, we are working to minimize them.
In keeping with federal, state, and local mandates to reduce the number of needed Associates so more sheltering can be done, this Friday - April 3rd, we will close for the day. Inside Sales, Accounts Payable/Receiving, Distribution, and Branches will work on a flex schedule, so needed services for you will continue. Good Friday is a Holiday for our Associate-Owners and Manufacturing will be closed. Inside Sales, Customer Service, Branches and Services will be operating.
Beginning April 1, the majority of our Outside Sales Reps will work from home. They will continue to be available by phone, and will be calling you to see how we can help you and your business through these difficult times.
We thank you for the trust you have placed in us, and assure you we will continue to be vigilant and diligent with the Health of our Associate-Owners, and continue to be the supplier you need. As of April 1st, we have not had any confirmed COVID-19 cases in any of our six manufacturing plants.
Again, thank you for your business and partnership. If I can be of help to you, please reach out. We believe, as a country, we will beat this virus, and come out of this stronger and more united than before.
From our friends at cbCharge…
During this time of economic uncertainty, we would like to partner with you to offer your repair shops a way to solidify their cash flow. COVID-19 has created a global economic crisis. Repair shops have been deemed an essential business, creating a need to stay open while the rest of the country’s business is in a decline. cbCharge can help! Consumer business is declining with most people confined to their homes, but fleet business has seen an increase with all service businesses (examples: plumbers, heating and air companies, delivery companies, construction companies, and trucking companies).
On March 18th, The Federal Motor Carrier Safety Administration issued an expanded national emergency declaration to provide hours-of-service regulatory relief to commercial vehicle drivers transporting emergency relief in response to the nationwide coronavirus (COVID-19). This has created a need for more repair and maintenance on fleet vehicles.
Concerns for repair shops include:
- Cash Flow
- Slow paying customers
- Credit risk with extended terms
- Increased credit limit needs
cbCharge can address those concerns and offer a solution. The process to move existing business is simple. The shop sends a list of existing fleet customers, including company name, address, phone number, and tax id number. cbCharge will set up all existing accounts and begin paying the shop for existing fleet invoices. Existing invoices remain the shop’s liability until paid by the customer, but any new invoices are cbCharge’s liability.
A branded credit application is also available for new customers to complete. Decisions are typically made within four hours. This allows the repair shop to focus on repair work instead of the back office.
cbCharge pays the shop within 24 hours of invoice submission and the customer is billed monthly for all charges with a cbCharge statement. Sign up is easy. Simply go to www.cbcharge.com and click the Jasper Engines & Transmissions Installer Locations enrollment link to complete a short application. Once enrolled, the shop gains instant access to a fleet locator to search for fleets that pay with cbCharge.
If you have any questions or would like to have more information, please contact Todd Woodruff at 256-584-3691 or email@example.com.
JASPER Alternate Screening Site
We are excited to announce that we here at JASPER have converted one of our race trailers into an alternate screening site, with drive-thru capability, for our Associate-Owners and their dependents!! In less than 72 hours we utilized our resources and put up our alternate health screening site for our Associates and their families!!
In an effort to keep JASPER Health WoRx LLC (our onsite healthcare) virus free, this alternate screening site allows us to care for patients presenting with fever and respiratory symptoms.
While not open to the public, our Associates and their dependents can utilize this service by calling into Heath WoRx and having a prior phone screening!
JASPER's latest update in response to COVID-19 includes a "COVID-19 Paid Leave Policy and Procedure" to ensure the health and safety of our Associate-Owners and their families.
Jasper Engines & Transmissions is Open to Support You During These Turbulent Times - COVID-19 Update
Dear Customers and Partners,
Jasper Engines & Transmissions places the health and safety of our Customers, and Associate-Owners, as a top priority. We plan to lead the fight against the COVID-19 virus with the same determination, and focus, as we have with Indiana’s Voluntary Protection Program (VPP).
Over the last several years, JASPER has developed a technology platform to minimize disruptions, and allow Associates to work from home, or satellite locations. Earlier this week, some members of JASPER’s Inside Sales, Customer Service, Accounting, and Accounts Receivable departments started working from home, and this will continue. We know you depend upon us, and we will continue to provide a high level of service throughout this worldwide crisis.
JASPER utilizes its own over-the-road tractor-trailer fleet, along with our local branch delivery fleet, operating through our 50 branches nationwide. Our transit service allows us to control the product from manufacturing to you, our customer. We are doing everything we can to provide the products you need.
Our manufacturing facilities, which are located in rural areas, are up and operational. As of this morning, we have no known cases of COVID-19. We have implemented additional precautions, and security last week, and they continue to escalate. We discontinued customer tours and commercial travel for our Associates. We have suspended visitation for all unnecessary visitors and vendors, and implemented temperature screening of all people entering our manufacturing facilities. We are taking precautions, including staggered start times, staggered breaks, discontinued group meetings, and the practice of social distancing, in order to keep everyone safe and healthy. Associates who show symptoms of illness, or have dependents showing symptoms, will be required to quarantine for 14 days.
Our branch warehouse teams will continue to work under the same precautions, in order to maintain local deliveries.
Thank you for your trust in Jasper Engines & Transmissions. We look forward to continuing to serve your needs! We hope your family and your loved ones stay healthy, and this passes in the near future.
Jasper Engines & Transmissions
We are lucky to have YOU!
Each holiday is special, but this year amongst the COVID-19 outbreak, we are especially grateful to have each of you as a part of our JASPER family. We truly do consider ourselves “lucky” to have you time after time choose JASPER to be your Brand or Company of Choice! We would like to provide some good in the form of gratitude on this lucky day.
To Our Associate – Owners: Thank you for your patience and commitment to JET as we work through the changes at hand. As you know we are upping our protocols to keep you safe and we especially thank those who are helping with sanitizing and facilitating the cleanliness of our facilities. Thank you for making us your Company of Choice!
To Our Installers: Thank you for keeping your doors and businesses open, you are providing a tremendous service to your community and while things might be unfortunately slowing down, we stand with you! Thank you for making us your Brand of Choice!
All in all, together we will weather the new challenges and grow stronger by leaning on one another in these times.
JASPER® Race Products Performance Report
Harvick Second at Phoenix with JASPER 4-Speed Transmission, Jones and Burton 1-2 in NASCAR Xfinity Series
Kevin Harvick, running a JASPER 4-Speed Transmission, finished second in Sunday's Monster Energy NASCAR Cup Series FanShield 500. Kyle Busch was third and Clint Bowyer was fifth, as drivers using JASPER products finished in five of the top ten positions at the checkered flag. Brandon Jones, also running a JASPER 4-Speed Transmission, held off Joe Gibbs Racing teammate Harrison Burton to win Saturday's NASCAR Xfinity Series LS Tractor 200. Justin Haley was fifth as drivers using JASPER products finished in six of the top ten positions at the finish. Both races were held at Phoenix Raceway.
A recap of the results from Phoenix Raceway follows.
Monster Energy NASCAR Cup Series - FanShield 500 - Phoenix Raceway
2nd Kevin Harvick #4 (JASPER 4-Speed Transmission) - Stage 1 Winner
3rd Kyle Busch #18 (JASPER 4-Speed Transmission)
5th Clint Bowyer #14 (JASPER 4-Speed Transmission)
8th Aric Almirola #10 (JASPER 4-Speed Transmission)
9th Cole Custer #41 (JASPER 4-Speed Transmission)
15th Ty Dillon #13 (JASPER 4-Speed Transmission)
16th Michael McDowell #34 (JASPER 4-Speed Transmission)
19th Bubba Wallace #43 (JASPER 4-Speed Transmission)
20th Denny Hamlin #11 (JASPER 4-Speed Transmission)
21st Daniel Suarez #96 (JASPER 4-Speed Transmission)
24th Christopher Bell #95 (JASPER 4-Speed Transmission)
25th John Hunter Nemechek #38 (JASPER 4-Speed Transmission)
27th Corey LaJoie #32 (JASPER 4-Speed Transmission)
28th Erik Jones #20 (JASPER 4-Speed Transmission)
31st Brennan Poole #15 (JASPER 4-Speed Transmission)
32nd Martin Truex, Jr. #19 (JASPER 4-Speed Transmission)
38th Timmy Hill #66 (JASPER 4-Speed Transmission)
Monster Energy NASCAR Cup Series Points Standings
1st Kevin Harvick #4 (JASPER 4-Speed Transmission)
8th Aric Almirola #10 (JASPER 4-Speed Transmission)
11th Denny Hamlin #11 (JASPER 4-Speed Transmission)
12th Kyle Busch #18 (JASPER 4-Speed Transmission)
13th Clint Bowyer #14 (JASPER 4-Speed Transmission)
15th Martin Truex, Jr. #19 (JASPER 4-Speed Transmission)
18th Bubba Wallace #43 (JASPER 4-Speed Transmission)
21st Erik Jones #20 (JASPER 4-Speed Transmission)
22nd Cole Custer #41 (JASPER 4-Speed Transmission)
23rd Corey LaJoie #32 (JASPER 4-Speed Transmission)
24th Ty Dillon #13 (JASPER 4-Speed Transmission)
26th John Hunter Nemechek #38 (JASPER 4-Speed Transmission)
27th Michael McDowell #34 (JASPER 4-Speed Transmission)
28th Brennan Poole #15 (JASPER 4-Speed Transmission)
NASCAR Xfinity Series - LS Tractor 200 - Phoenix Raceway
1st Brandon Jones #19 (JASPER 4-Speed Transmission)
2nd Harrison Burton #20 (JASPER 4-Speed Transmission)
5th Justin Haley #11 (JASPER 4-Speed Transmission)
6th Chase Briscoe #98 (JASPER 4-Speed Transmission)
9th Ross Chastain #10 (JASPER 4-Speed Transmission)
10th Riley Herbst #18 (JASPER 4-Speed Transmission)
23rd Timmy Hill #61 (JASPER 4-Speed Transmission)
24th Chad Finchum #13 (JASPER 4-Speed Transmission)
33rd Stephen Leicht #66 (JASPER 4-Speed Transmission)