Coronavirus Updates

The Small Business Administration (SBA) has recently issued the following Paycheck Protection Program (PPP) guidance and documents related to loan forgiveness: Interim Final Rule (IFR) on Amended Loan Forgiveness and Review Procedures (1/19/2021) PPP Loan Forgiveness Application Form 3508 (Revised 1/19/21) PPP Loan Forgiveness Application Form 3508EZ (Revised 1/19/21) ...

New Jersey started its COVID-19 vaccination program with the rollout of a Statewide Vaccine Scheduling System. This was aimed to be systematic way to provide a phased approach to vaccinations by categorizing and prioritizing individuals based on occupational and health risks. Individuals would answer a few questions and...

The Small Business Administration has just reopened the Paycheck Protection Program (PPP), making $284 billion available to new borrowers, as well as certain businesses that had previously received a PPP loan from the initial PPP allocation. The new funding was part of the Economic Aid to Hard-Hit Small...

New Jersey recently opened an online portal (https://covidvaccine.nj.gov/) to allow people to pre-register to receive the COVID-19 vaccine and announced a preliminary vaccination schedule. The portal asks individuals to enter some personal information, answer a few questions and select a job category from a list. The information provided...

Earlier this week, President Trump signed into law the $900 billion coronavirus relief bill that Congress passed on December 21. There are several items that are of particular interest to dealerships For instance, the bill clarifies that expenses paid for using Paycheck Protection Program (PPP) loan proceeds are tax...

After months of political posturing, the U.S. Senate and House of Representatives finally passed a $900 billion COVID-19 relief bill (The Consolidated Appropriations Act, 2021) providing $300 billion in aid for small businesses. NADA has provided a preliminary analysis of the bill focused on items  of most interest to...