Lennar Trade Partners
The safety of our Associates, Customers and Trade Partners is our Number 1 Priority at Lennar. As we navigate these uncertain times, we have continued to stay focused on identifying ways of supporting you, our Trade Partners.
We have created this website for the sole purpose of helping you navigate the recently enacted COVID-19 stimulus legislation (the CARES Act). This website is intended to be a resource to help you identify and take advantage of the many stimulus provisions in the CARES Act that provide small business owners with liquidity to manage their cashflow through this current environment.
This website includes our high-level summary of the provisions we believe most important for you, our Trade Partners, and your employees.
We want this website to be a valuable reference tool for you during this difficult time. Therefore, we have included links below to publicly available documents and online resources that we believe will be most helpful to you. We will be continuing to update these links as other relevant information becomes available.
We encourage you to ask any questions you might have via E-mail to:
When you submit your E-mail, please include your name, company name, and market location with your question. We will respond to your questions as soon as possible, using all resources available to us, including our external advisors.
Please keep in mind that our intent is to provide you focused information that will be useful for discussion with your bankers, employees, and advisors.
The U.S. Small Business Administration (SBA) issued guidance on Friday April 3 relating to the Paycheck Protection Program (included on our website herein). Such guidance clarified that payments made to independent contractors do not qualify and will not be counted as payroll cost for purposes of calculating the loan amount under this program. As discussed on our Sunday March 29th calls, the law was unclear on this point, written in an ambiguous manner and could have be interpreted as qualifying as payroll cost. However, SBA lenders are following this guidance and will not allow these costs to be included for purposes of calculating a loan amount.
This guidance does however allow for independent contractors that are providing services to other businesses to apply for their own loans. They would include in their loan calculation, amounts paid to their employees, as well as amounts paid to themselves (the owners) as payroll costs for purposes of calculating the loan amount. This will allow them to receive needed cash to keep them in business.
We will keep you posted on this and continue to work on this issue.
News Flash 4/23/2020
The House passed a $484 billion aid package for small businesses, hospitals and testing. The bill now goes to President Trump, who says he will sign the measure.