Issues
The Automotive Service Association (ASA) joined aftermarket coalition associations requesting Congress expand the authority of the Paycheck Protection Program (PPP) in the Fourth Stimulus package coming up for consideration. “The PPP program has been popular with automotive repairers but with the increasing economic impact on shops by the COVIC-19 pandemic, ASA encourages Congress to expand the…
Per Protocol, financial technology (fintech) companies are seeking to help Americans get the relief needed that was approved under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The Paycheck Protection Program (PPP) authorizes up to $349 billion toward job retention and certain other expenses. Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses…
Per the U.S. Department of Labor (DOL), the Employment and Training Administration (ETA) announced the publication of Unemployment Insurance Program Letter (UIPL) 17-20, which provides further guidance to states as they implement the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), including the Pandemic Emergency Unemployment Compensation (PEUC) program. Under the Pandemic Emergency Unemployment Compensation program,…
The Small Business Administration (SBA), in consultation with the Department of the Treasury, intends to provide timely additional guidance to address borrower and lender questions concerning the implementation of the Paycheck Protection Program (PPP), established by section 1102 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act or the Act). This document will…
Republican Leader Mitch McConnell released a statement announcing the need for additional funding for the Paycheck Protection Program (PPP). The PPP is a $349 billion program for small businesses to cover payroll during the COVID19 pandemic. The program launched on Friday and has already dolled out hundreds of thousands of dollars to small business owners.…
SBA’s Paycheck Protection Program for Small Businesses Affected by the Coronavirus Pandemic Launches
The U.S. Small Business Administration (SBA) launched the Paycheck Protection Program, a $349 billion emergency loan program created last week by the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Per the SBA: The loans are available to cover up to eight weeks of average monthly payroll (based on 2019 figures) plus 25% and payments…
The Trump Administration continues to update and provide additional information and resources with regard to the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Assistance for Small Businesses The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses. Small businesses…
The U.S. Department of Labor (DOL) issued a temporary rule pursuant to the Families First Coronavirus Response Act (FFCRA). Per the DOL: In this temporary rule, the Department: Issues rules relevant to the administration of the FFCRA’s paid leave requirements. Provides direction for administration of the Emergency Paid Sick Leave Act (EPSLA), which requires that…
The U.S. Environmental Protection Agency and the National Highway Traffic Safety Administration released the final text of the Safer Affordable Fuel Efficient (SAFE) Vehicles rule. To read the full text of the rule, click here.
The U.S. Small Business Administration (SBA) continues to update their website on programs available for shops. Information is now included on the Paycheck Protection Program (PPP). Per SBA, “the Paycheck Protection Program is designed to provide a direct incentive for small businesses to keep their workers on payroll by providing each small business a loan up to…