SBA Updates FAQ for Paycheck Protection Act, Potentially Expanding Eligibility
The SBA recently provided an updated FAQ document and included a comment under the Q&A that may allow companies with more than 500 employees who can certify they have been harmed by the current crisis. Companies should consult with their accountant to better understand their standing.
We specifying draw your attention to the below Q&A in the linked document.
2. Question: Are small business concerns (as defined in section 3 of the Small Business Act, 15 U.S.C. 632) required to have 500 or fewer employees to be eligible borrowers in the PPP? Answer: No. Small business concerns can be eligible borrowers even if they have more than 500 employees, as long as they satisfy the existing statutory and regulatory definition of a “small business concern” under section 3 of the Small Business Act, 15 U.S.C. 632. A business can qualify if it meets the SBA employee-based or revenue- 1 This document does not carry the force and effect of law independent of the statute and regulations on which it is based. As of April 6, 2020 based size standard corresponding to its primary industry. Go to www.sba.gov/size for the industry size standards.
Additionally, a business can qualify for the Paycheck Protection Program as a small business concern if it met both tests in SBA’s “alternative size standard” as of March 27, 2020: (1) maximum tangible net worth of the business is not more than $15 million; and (2) the average net income after Federal income taxes (excluding any carry-over losses) of the business for the two full fiscal years before the date of the application is not more than $5 million.
A business that qualifies as a small business concern under section 3 of the Small Business Act, 15 U.S.C. 632, may truthfully attest to its eligibility for PPP loans.
CDC Says Employees Exposed to COVID-19 Can Work if Well
The U.S. Centers for Disease Control and Prevention (CDC) has updated its interim guidance for employees in essential businesses who may have been exposed to someone with a suspected or confirmed case of COVID-19, outlining when employees can return to work.
Localities Limit Sales of 'Nonessential' Items
Some Costco, Target and Walmart stores can no longer sell clothing or electronics in parts of the U.S.
COVID-19 Scams Proliferate
Be alert for coronavirus-themed scams, from pop-up test sites to fraudulent small business loans.
FDA Echoes Safe Food-Handling Practices
Tips for enhancing standard food safety protocols during the COVID-19 pandemic.
E-Cig Application Deadline Extended
Courts grants FDA request for September deadline for premarket review of new tobacco products.
DOE Publishes COVID-19 Energy Sector Response Efforts and Frequently Asked Questions
The Department of Energy (DOE) posted a section to its website titled “COVID-19 Energy Sector Response Efforts and Frequently Asked Questions.” In that section, DOE provides a link to PMAA’s Coronavirus Resources page. Also, importantly for marketers, DOE provides a response to the Frequently Asked Question: “How Can My Company Acquire PPE & Testing for Essential Personnel?” Click here to visit the website.
Terminal Access and Company COVID-19 Protocol Template
PMAA has been working to address a problem where some replacement drivers have not been allowed to receive on-site training to be carded for specific terminal facilities (which is usually allowed during disasters). In order to obtain terminal on-site training, it is especially important to do these things:
The SBA recently provided an updated FAQ document and included a comment under the Q&A that may allow companies with more than 500 employees who can certify they have been harmed by the current crisis. Companies should consult with their accountant to better understand their standing.
We specifying draw your attention to the below Q&A in the linked document.
2. Question: Are small business concerns (as defined in section 3 of the Small Business Act, 15 U.S.C. 632) required to have 500 or fewer employees to be eligible borrowers in the PPP? Answer: No. Small business concerns can be eligible borrowers even if they have more than 500 employees, as long as they satisfy the existing statutory and regulatory definition of a “small business concern” under section 3 of the Small Business Act, 15 U.S.C. 632. A business can qualify if it meets the SBA employee-based or revenue- 1 This document does not carry the force and effect of law independent of the statute and regulations on which it is based. As of April 6, 2020 based size standard corresponding to its primary industry. Go to www.sba.gov/size for the industry size standards.
Additionally, a business can qualify for the Paycheck Protection Program as a small business concern if it met both tests in SBA’s “alternative size standard” as of March 27, 2020: (1) maximum tangible net worth of the business is not more than $15 million; and (2) the average net income after Federal income taxes (excluding any carry-over losses) of the business for the two full fiscal years before the date of the application is not more than $5 million.
A business that qualifies as a small business concern under section 3 of the Small Business Act, 15 U.S.C. 632, may truthfully attest to its eligibility for PPP loans.
CDC Says Employees Exposed to COVID-19 Can Work if Well
The U.S. Centers for Disease Control and Prevention (CDC) has updated its interim guidance for employees in essential businesses who may have been exposed to someone with a suspected or confirmed case of COVID-19, outlining when employees can return to work.
Localities Limit Sales of 'Nonessential' Items
Some Costco, Target and Walmart stores can no longer sell clothing or electronics in parts of the U.S.
COVID-19 Scams Proliferate
Be alert for coronavirus-themed scams, from pop-up test sites to fraudulent small business loans.
FDA Echoes Safe Food-Handling Practices
Tips for enhancing standard food safety protocols during the COVID-19 pandemic.
E-Cig Application Deadline Extended
Courts grants FDA request for September deadline for premarket review of new tobacco products.
DOE Publishes COVID-19 Energy Sector Response Efforts and Frequently Asked Questions
The Department of Energy (DOE) posted a section to its website titled “COVID-19 Energy Sector Response Efforts and Frequently Asked Questions.” In that section, DOE provides a link to PMAA’s Coronavirus Resources page. Also, importantly for marketers, DOE provides a response to the Frequently Asked Question: “How Can My Company Acquire PPE & Testing for Essential Personnel?” Click here to visit the website.
Terminal Access and Company COVID-19 Protocol Template
PMAA has been working to address a problem where some replacement drivers have not been allowed to receive on-site training to be carded for specific terminal facilities (which is usually allowed during disasters). In order to obtain terminal on-site training, it is especially important to do these things:
- Notify the terminal in advance so the request can be run up the chain for approval.
- Justify why this is needed, for example, the driver who normally pulls from the terminal is sick.
- Make certain the facility knows the replacement driver is an experienced driver who has loaded fuel at multiple other terminals and the number of years.
Finally, if there are other concerns from terminal operators, Click here for a downloaded template for the PMAA document for owners and managers to use in creating company protocols regarding COVID-19 to use internally and with business partners. In particular, the template can be used with terminal operators who require such documentation in support of their own expanded protocols to protect their employees.
PMAA and NTTC COVID-19 Driver Guidance
PMAA and the National Tank Truck Carriers (NTTC) jointly created a COVID-19 Driver Guidance that is similar to the PMAA Company Protocol Template document for company owners and managers. However, this document is for a different audience, it is for truck drivers specifically. Based on feedback from PMAA members and from FEMA, drivers need clear guidance on how they should operate. Click here for the document.
Help Customers Safely Wait in Line
Convenience stores can use well-defined queue lines to ensure shoppers practice safe social distancing.
Convenience, Fuel Retailers Seek Expanded SBA Loan Access
NACS, industry coalition ask Congress to amend CARES Act to include essential businesses with NAICS codes beginning with 44.
PMAA and NTTC COVID-19 Driver Guidance
PMAA and the National Tank Truck Carriers (NTTC) jointly created a COVID-19 Driver Guidance that is similar to the PMAA Company Protocol Template document for company owners and managers. However, this document is for a different audience, it is for truck drivers specifically. Based on feedback from PMAA members and from FEMA, drivers need clear guidance on how they should operate. Click here for the document.
Help Customers Safely Wait in Line
Convenience stores can use well-defined queue lines to ensure shoppers practice safe social distancing.
Convenience, Fuel Retailers Seek Expanded SBA Loan Access
NACS, industry coalition ask Congress to amend CARES Act to include essential businesses with NAICS codes beginning with 44.
