Join Fisher Phillips attorneys Lauren Sobaski and Samantha Monsees on Friday, April 3, for a KADA and MADA webinar discussing the key issues facing automotive dealerships during the global COVID-19 pandemic. Lauren and Samantha will discuss the Family First Coronavirus Response Act (FFCRA), the CARES Act, paycheck protection loans, state unemployment, and how they intersect. We will allow for questions from the audience and will address other unique issues related to the COVID-19 outbreak.
NADA WEBINAR RECORDING - PAYCHECK PROTECTION PROGRAM APPLICATION
A recording of yesterday's NADA webinar is now available: Making Sense of the New SBA Paycheck Protection Program: Practical Consideration for Dealers, which was filled to capacity. Last week, as part of the federal CARES Act, Congress made a variety of emergency loans available to small businesses. For dealers, the most anticipated of these initiatives is the Paycheck Protection Program (PPP). The program is available to eligible businesses that have paid salaries and payroll taxes prior to February 15, 2020, and have fewer than 500 employees. For auto groups with more than 500 employees, eligibility affiliation rules may be waived under certain criteria. Ultimately, the PPP provides $350 billion for 100% federally guaranteed loans for eight weeks and defers loans for up to six months. PPP applications can be submitted beginning Friday, April 3. You can find the loan application and program details here.
As a reminder, today, from 12:00 - 1:00 p.m. is the second NADA webinar, you can register below. If you are unable to log into the webinar, we will send the recording as soon as it is available.
As of yesterday, April 1, the Families First Coronavirus Response Act (FFCRA) became effective to assist employees with absences that may be related to COVID-19. The Department of Labor published an Employee Rights poster explaining the provisions of the new FFCRA, including paid sick leave and expanded family and medical leave. Click here to print the poster for your dealership. NADA’s revised FAQs on FFCRA is an excellent resource that reflects DOL’s latest guidance.
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.