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Additional Guidance on the PPP Loan Forgiveness Program
NHTSA Issues Takata Air Bag Recall The U.S. Small Business Administration in conjunction with the U.S. Department of Treasury released new guidance regarding the Paycheck Protection Program (PPP). The interim rules can be found here: Interim Final Rule on Loan Forgiveness (Released May 22, 2020) Interim Final Rule on Loan Review Procedures and Related Borrower Responsibilities (Released…
Read MoreU.S. House Considers PPP Reform Stand-alone Bill
NHTSA Issues Takata Air Bag Recall Congressman Chip Roy (R-TX), along with Congressman Dean Phillips (D-MN), Congressman Tom Emmer (R-MN), and Congressman Fred Upton (R-MI) introduced H.R. 6886, the Paycheck Protection Flexibility Act. The bipartisan bill will make necessary changes to the Paycheck Protection Program (PPP) as business owners nationwide have expressed concerns with the…
Read MoreU.S. House May Consider PPP Reform Stand-alone Bill
NHTSA Issues Takata Air Bag Recall Congressman Dean Phillips (D-MN) and Congressman Chip Roy (R-TX) introduced H.R. 6886, the Paycheck Protection Flexibility Act. The bipartisan bill will make necessary changes to the Paycheck Protection Program (PPP) as business owners nationwide have expressed concerns with the program. The legislation will: Allow forgiveness for expenses beyond the…
Read MoreDOL Announces Final Rule to Expand Access to Bonuses for Workers
NHTSA Issues Takata Air Bag Recall The U.S. Department of Labor (DOL) held a background briefing regarding a final rule that allows employers to offer bonuses or other incentive-based pay to employees whose hours vary from week to week. Per the DOL, the final rule clarifies that payments in addition to the fixed salary are…
Read MoreU.S. Senate Committee Holds Remote Hearing on CARES Act
NHTSA Issues Takata Air Bag Recall U.S. Senate Committee on Banking, Housing, and Urban Affairs convened a remote hearing today entitled “The Quarterly CARES Act Report to Congress.” In his opening statement U.S. Department of Treasury Secretary Steven Mnuchin stated that the Department has “worked closely with the[U.S.] Small Business Administration [SBA] on the…
Read MoreDepartment of Treasury and SBA Release Loan Forgiveness Application
NHTSA Issues Takata Air Bag Recall The U.S. Small Business Administration is working in conjunction with the U.S. Department of Treasury on the implementation of the Paycheck Protection Program (PPP). The PPP was established under H.R. 748, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, in response to the ongoing COVID-19 pandemic. The SBA…
Read MoreSBA PPP Repayment Deadline May 18
NHTSA Issues Takata Air Bag Recall In a interim rule, the U.S. Small Business Administration (SBA) provided that any borrower who applied for a PPP loan and repays the loan in full by May 14, 2020 will be deemed by SBA to have made the required certification concerning the necessity of the loan request in…
Read MoreHouse Committee on Small Business Holds Online Forum
NHTSA Issues Takata Air Bag Recall The U.S. House Committee on Small Business held an online forum with Small Business Administration (SBA) lenders to discuss the Paycheck Protection Program (PPP) and future efforts. Throughout the online forum, similar sentiments were expressed from members of Congress and panelists praising the work done thus far from the…
Read MoreTreasury Dept. Updates PPP FAQ Sheet
NHTSA Issues Takata Air Bag Recall The U.S. Small Business Administration is working in conjunction with the U.S. Department of Treasury on the implementation of the Paycheck Protection Program (PPP). The PPP was established under H.R. 748, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, in response to the ongoing COVID-19 pandemic. The SBA…
Read MoreAutomotive Aftermarket Associations Urge Congressional Leaders to Oppose Cash for Clunkers Program
NHTSA Issues Takata Air Bag Recall Major automotive aftermarket associations, including the Auto Care Association, Tire Industry Association and Service Station Dealers of American and Allied Trades, the Automotive Oil Change Association, and the Automotive Service Association, sent a letter to Congressional leaders in opposition of a new “Cash for Clunkers” type program from being…
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