Attention, repair shop owners & others! CARES Act update for PPP, small business assistance

Flag Waving Picture Id907965114WASHINGTON, D.C. – ASA Washington, D.C. representative Bob Redding continues to relay information to aid members and others, as the Trump Administration provides updates and spotlights resources with regard to the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

ASA Washington, D.C. representative Bob Redding

Today the Department of Treasury released additional guidance regarding the CARES Act Paycheck Protection Program:

Note: Lenders in the categories requiring the new form should submit by emailing NFRLapplicationforPPP@sba.gov. Federally insured banks, credit unions, and farm credits should continue submitting new lender applications to DelegatedAuthority@sba.gov.

For more information and updates, visit Treasury.gov/CARES and SBA.gov/PayCheckProtection.

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 and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.