ADDITIONAL GUIDANCE FROM TREASURY
AND SBA FOR THE PPP
With businesses applying for the Paycheck Protection Program by the thousands. The Administration reports that as of April 29, $52 billion in loan requests have been approved. The Treasury Department and Small Business Administration released additional guidance for PPP’s review procedure, final rule on disbursements, FAQs (question 37) and more. Dealers are encouraged to review the following items carefully:


For an overview of the loan program, visit Top-line Overview of PPP  and the SBA’s Paycheck Protection Program Loan Report.
NADA Analysis Tackles Large-Company Eligibility for PPP 

The government recently clarified guidance in the wake of large, publicly traded businesses applying (and qualifying) for PPP loans during the first round.

NADA’s analysis addressing PPP loan eligibility for businesses owned by large companies comes as the Small Business Administration now requires borrowers to certify that they need the money.

Note: SBA guidance states, “Large companies with adequate sources of liquidity to support the business’ ongoing operations … must certify in good faith that their PPP loan request is necessary.”
EPA, CDC Release Guidance for Sanitizing Where Americans Live, Work and Play

The U.S. Environmental Protection Agency and the Centers for Disease Control and Prevention released updated guidance to help facility operators and families properly clean and disinfect spaces . Developed in concert with the White House, the guidance provides step-by-step instructions for public spaces, workplaces, businesses, schools and homes and falls in line with the Opening Up America Again guidelines. 

For more information on safely operating a dealership during COVID-19, see NADA’s Dealership Health and Safety Concerns During a Pandemic FAQs .
KADA will continue to provide updates on critical legislative and regulatory measures as they become available. They will also be posted on www.kansasdealers.org.