NADA SHARES PPP FORGIVENESS GUIDANCE
NADA has released PPP Loans: Use of Proceeds and Forgiveness , which is NADA's preliminary guidance on the forgiveness elements of the PPP loans. The guidance will be updated as NADA obtains additional information from the SBA and Treasury Department.

Also, please note that as of this morning, the SBA has closed both the PPP and its EIDL program to new applications. Simply put, the funds for both loan programs have been depleted. It is our understanding if you were already issued a loan number, your money has been allocated for you and will not be impacted. NADA has signed on to a letter to Congress and is pushing hard for additional PPP funding. Additional funding is important for dealers who have yet to apply for a PPP loan or have applied for one but have yet to be approved and funded.
ONLINE SALES: WHAT DEALERS NEED TO KNOW
Due to the coronavirus, new-vehicle sales have plummeted 34% in March, hundreds of showrooms are dark, with 22 states enforcing restrictions on in-person sale and many businesses have shuttered under numerous shelter-in-place measures. Under these circumstances, dealers are rightly turning to online sales. Click here to read more about what you should know about online sales.
SHARE YOUR STORY
Dealers provide essential services to healthcare professionals, infrastructure workers, and others. We want to hear how you're doing it safely. What best practices are you employing to keep your employees and customers healthy? How has your dealership been essential to your community during the public health emergency?

Send us your dealership story at info@kansasdealers.org .
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.