By SEMA Washington, D.C., Staff

The Paycheck Protection Program Flexibility Act was signed into law on June 5, and provides companies more flexibility on the use of funds from the U.S. Small Business Administration’s (SBA) Paycheck Protection Program (PPP). Businesses are encouraged to contact participating lenders prior to the June 30 deadline. Highlights of the program include:

• Loan Amount: PPP loans equal the average of one month’s 2019 payroll multiplied by 2.5 (capped at $10 million).
• Amount Forgiven: The SBA will forgive that portion of the loan used to cover payroll, rent payments, mortgage interest and the cost of utilities for a fixed period of time. As a result of the PPP Flexibility Act, the employer may now choose the covered period, either: (a) eight consecutive weeks from when the loan was received, or (b) up to 24 weeks from when the loan was received or on December 31, 2020, whichever comes first.
• Use of Funds: PPP funds can be used to cover payroll, mortgage or rent payments, utilities and other specified expenses. At least 60% of the amount to be forgiven must be spent on payroll, which includes employee benefit costs for vacation, sick/parental leave, insurance premiums, retirement benefits and state and local taxes.
• Interest Rate and Repayment Terms: The loan interest rate is 1%. Repayments on any amount not forgiven is deferred at least 10 months after the end of the covered period, with a two-year term for loans secured before June 5, and five-year term for loans on or after that date.
• Rehiring Workers: Employers have until December 31, 2020, to rehire workers and have their salaries count toward forgiveness.
• Payroll Taxes: Businesses receiving a PPP loan may also defer payment of 2020 payroll taxes.
• Apply Now: The deadline for application approval is June 30, 2020. Companies are encouraged to apply as quickly as possible because there is only $130 billion left to be lent (as of June 7, 2020). Click here for more information.
• Find a Bank: Companies looking to apply for PPP loans are encouraged to use the SBA’s “Find Local Lenders” page to locate the nearest PPP lending institutions.

For more information:

• View a taped SEMA webinar on May 28, entitled “Everything You Need to Know About the Paycheck Protection Program,” which features Gene Marks, a CPA and recognized expert on small business issues. 
• View additional PPP information posted on SEMA’s SBA loan webpage.
• Visit the SBA's PPP webpage.

By SEMA Washington, D.C., Staff

The Paycheck Protection Program Flexibility Act was signed into law on June 5, and provides companies more flexibility on the use of funds from the U.S. Small Business Administration’s (SBA) Paycheck Protection Program (PPP). Businesses are encouraged to contact participating lenders prior to the June 30 deadline. Highlights of the program include:

• Loan Amount: PPP loans equal the average of one month’s 2019 payroll multiplied by 2.5 (capped at $10 million).
• Amount Forgiven: The SBA will forgive that portion of the loan used to cover payroll, rent payments, mortgage interest and the cost of utilities for a fixed period of time. As a result of the PPP Flexibility Act, the employer may now choose the covered period, either: (a) eight consecutive weeks from when the loan was received, or (b) up to 24 weeks from when the loan was received or on December 31, 2020, whichever comes first.
• Use of Funds: PPP funds can be used to cover payroll, mortgage or rent payments, utilities and other specified expenses. At least 60% of the amount to be forgiven must be spent on payroll, which includes employee benefit costs for vacation, sick/parental leave, insurance premiums, retirement benefits and state and local taxes.
• Interest Rate and Repayment Terms: The loan interest rate is 1%. Repayments on any amount not forgiven is deferred at least 10 months after the end of the covered period, with a two-year term for loans secured before June 5, and five-year term for loans on or after that date.
• Rehiring Workers: Employers have until December 31, 2020, to rehire workers and have their salaries count toward forgiveness.
• Payroll Taxes: Businesses receiving a PPP loan may also defer payment of 2020 payroll taxes.
• Apply Now: The deadline for application approval is June 30, 2020. Companies are encouraged to apply as quickly as possible because there is only $130 billion left to be lent (as of June 7, 2020). Click here for more information.
• Find a Bank: Companies looking to apply for PPP loans are encouraged to use the SBA’s “Find Local Lenders” page to locate the nearest PPP lending institutions.

For more information:

• View a taped SEMA webinar on May 28, entitled “Everything You Need to Know About the Paycheck Protection Program,” which features Gene Marks, a CPA and recognized expert on small business issues. 
• View additional PPP information posted on SEMA’s SBA loan webpage.
• Visit the SBA's PPP webpage.

By SEMA Washington, D.C., Staff

The Paycheck Protection Program Flexibility Act was signed into law on June 5, and provides companies more flexibility on the use of funds from the U.S. Small Business Administration’s (SBA) Paycheck Protection Program (PPP). Businesses are encouraged to contact participating lenders prior to the June 30 deadline. Highlights of the program include:

• Loan Amount: PPP loans equal the average of one month’s 2019 payroll multiplied by 2.5 (capped at $10 million).
• Amount Forgiven: The SBA will forgive that portion of the loan used to cover payroll, rent payments, mortgage interest and the cost of utilities for a fixed period of time. As a result of the PPP Flexibility Act, the employer may now choose the covered period, either: (a) eight consecutive weeks from when the loan was received, or (b) up to 24 weeks from when the loan was received or on December 31, 2020, whichever comes first.
• Use of Funds: PPP funds can be used to cover payroll, mortgage or rent payments, utilities and other specified expenses. At least 60% of the amount to be forgiven must be spent on payroll, which includes employee benefit costs for vacation, sick/parental leave, insurance premiums, retirement benefits and state and local taxes.
• Interest Rate and Repayment Terms: The loan interest rate is 1%. Repayments on any amount not forgiven is deferred at least 10 months after the end of the covered period, with a two-year term for loans secured before June 5, and five-year term for loans on or after that date.
• Rehiring Workers: Employers have until December 31, 2020, to rehire workers and have their salaries count toward forgiveness.
• Payroll Taxes: Businesses receiving a PPP loan may also defer payment of 2020 payroll taxes.
• Apply Now: The deadline for application approval is June 30, 2020. Companies are encouraged to apply as quickly as possible because there is only $130 billion left to be lent (as of June 7, 2020). Click here for more information.
• Find a Bank: Companies looking to apply for PPP loans are encouraged to use the SBA’s “Find Local Lenders” page to locate the nearest PPP lending institutions.

For more information:

• View a taped SEMA webinar on May 28, entitled “Everything You Need to Know About the Paycheck Protection Program,” which features Gene Marks, a CPA and recognized expert on small business issues. 
• View additional PPP information posted on SEMA’s SBA loan webpage.
• Visit the SBA's PPP webpage.

By SEMA Washington, D.C., Staff

The Paycheck Protection Program Flexibility Act was signed into law on June 5, and provides companies more flexibility on the use of funds from the U.S. Small Business Administration’s (SBA) Paycheck Protection Program (PPP). Businesses are encouraged to contact participating lenders prior to the June 30 deadline. Highlights of the program include:

• Loan Amount: PPP loans equal the average of one month’s 2019 payroll multiplied by 2.5 (capped at $10 million).
• Amount Forgiven: The SBA will forgive that portion of the loan used to cover payroll, rent payments, mortgage interest and the cost of utilities for a fixed period of time. As a result of the PPP Flexibility Act, the employer may now choose the covered period, either: (a) eight consecutive weeks from when the loan was received, or (b) up to 24 weeks from when the loan was received or on December 31, 2020, whichever comes first.
• Use of Funds: PPP funds can be used to cover payroll, mortgage or rent payments, utilities and other specified expenses. At least 60% of the amount to be forgiven must be spent on payroll, which includes employee benefit costs for vacation, sick/parental leave, insurance premiums, retirement benefits and state and local taxes.
• Interest Rate and Repayment Terms: The loan interest rate is 1%. Repayments on any amount not forgiven is deferred at least 10 months after the end of the covered period, with a two-year term for loans secured before June 5, and five-year term for loans on or after that date.
• Rehiring Workers: Employers have until December 31, 2020, to rehire workers and have their salaries count toward forgiveness.
• Payroll Taxes: Businesses receiving a PPP loan may also defer payment of 2020 payroll taxes.
• Apply Now: The deadline for application approval is June 30, 2020. Companies are encouraged to apply as quickly as possible because there is only $130 billion left to be lent (as of June 7, 2020). Click here for more information.
• Find a Bank: Companies looking to apply for PPP loans are encouraged to use the SBA’s “Find Local Lenders” page to locate the nearest PPP lending institutions.

For more information:

• View a taped SEMA webinar on May 28, entitled “Everything You Need to Know About the Paycheck Protection Program,” which features Gene Marks, a CPA and recognized expert on small business issues. 
• View additional PPP information posted on SEMA’s SBA loan webpage.
• Visit the SBA's PPP webpage.

By Ashley Reyes

The SEMA Truck and Off-Road Alliance’s (TORA) newest Volunteer Spotlight member is Kelli Mallicote of BodyGuard Bumpers. Mallicote was featured in 2016 as one of SEMA’s “35 Under 35,” in part for her rising industry talent and role in advancing the industry through her volunteerism with TORA. Check out her video to learn more about her experience and the many ways she gives back to the truck and off-road industry.

SEMA: What inspired you to pursue a career in the truck and off-road industry?

Kelli Mallicote: I’d really like to say that the automotive industry found me, rather than me finding it. I came from a background in the medical field and this was something that I just happened upon. My husband was working in manufacturing when he started BodyGuard Bumpers years ago and I started helping him and just grew to love the industry and the people. It kind of just found me.

SEMA: Why did you decide to volunteer for TORA? How has it or will it impact you?

KM: I decided to volunteer with TORA and get involved around 2014 to 2015. I wanted to meet people in the industry, get connected and just learn more about what the industry was about. It was a personal thing for me as well. I wanted to network and get more involved and I ran for the Select Committee in 2016 to 2018.

SEMA: What advice do you have for someone pursuing a career in the automotive aftermarket?

KM: The best piece of advice that I could give is to get connected. The industry is really big, yet again, it’s really small. All the companies are very well connected, everyone knows everyone and a lot of people see each other frequently at shows. The best advice that I could give is if you have any questions or want to grow in the industry, don’t be afraid to ask. Connect with other people and get to know them. Just get involved.

SEMA: What is your dream truck or off-road vehicle? Where would we find you in it?

KM: My dream vehicle is anything to do with a Jeep. I currently have a Jeep JL, and I love anything outdoors, rock-crawling or anything off-road where we can take the top off and get out and just try and hang out and have fun. I’ve owned a couple of trucks as well. I’m probably more of a truck or Jeep girl; definitely not a car girl. 

By Ashley Reyes

The SEMA Truck and Off-Road Alliance’s (TORA) newest Volunteer Spotlight member is Kelli Mallicote of BodyGuard Bumpers. Mallicote was featured in 2016 as one of SEMA’s “35 Under 35,” in part for her rising industry talent and role in advancing the industry through her volunteerism with TORA. Check out her video to learn more about her experience and the many ways she gives back to the truck and off-road industry.

SEMA: What inspired you to pursue a career in the truck and off-road industry?

Kelli Mallicote: I’d really like to say that the automotive industry found me, rather than me finding it. I came from a background in the medical field and this was something that I just happened upon. My husband was working in manufacturing when he started BodyGuard Bumpers years ago and I started helping him and just grew to love the industry and the people. It kind of just found me.

SEMA: Why did you decide to volunteer for TORA? How has it or will it impact you?

KM: I decided to volunteer with TORA and get involved around 2014 to 2015. I wanted to meet people in the industry, get connected and just learn more about what the industry was about. It was a personal thing for me as well. I wanted to network and get more involved and I ran for the Select Committee in 2016 to 2018.

SEMA: What advice do you have for someone pursuing a career in the automotive aftermarket?

KM: The best piece of advice that I could give is to get connected. The industry is really big, yet again, it’s really small. All the companies are very well connected, everyone knows everyone and a lot of people see each other frequently at shows. The best advice that I could give is if you have any questions or want to grow in the industry, don’t be afraid to ask. Connect with other people and get to know them. Just get involved.

SEMA: What is your dream truck or off-road vehicle? Where would we find you in it?

KM: My dream vehicle is anything to do with a Jeep. I currently have a Jeep JL, and I love anything outdoors, rock-crawling or anything off-road where we can take the top off and get out and just try and hang out and have fun. I’ve owned a couple of trucks as well. I’m probably more of a truck or Jeep girl; definitely not a car girl. 

By Ashley Reyes

Wade Kawasaki, president and CEO of Legendary Companies, is the latest industry icon featured in recently released video footage from the 2019 SEMA Show STAGE. Produced by SEMA Education in partnership with the SEMA Wheel and Tire Council (WTC), the new series episode includes Kawasaki as he shares his career path and stories of being exposed to the automotive industry at a young age, what advice he would give his younger self and more.

“Work hard, that’s really the name of the game—if you’re willing to focus and apply yourself in a meaningful way to whatever your dream is and have a great time doing it,” said Kawasaki. “You know, as they said, I’m so blessed to be in this industry. I love going to work every day.”

Additional topics include the benefits of selling direct to consumer, his experience selling product internationally versus in the United States and how working at his local speed shop trained him for a successful career in business.

“After getting into business and realizing that it’s the relationships that you develop that are really the important thing, then you realize that if you focus on the relationships with your team and with your customers, then the money will come; and the money will come for a long time,” said Kawasaki.

When asked about his experience learning from industry mentors at such a young age, Kawasaki also shared his thoughts and advice for the younger generation.

“That’s my encouragement with young people today, and why this education program is so great. If you ask, all of these guys are glad to help you. We want to share this passion; we want this to spread and we want everybody to be able to enjoy it.”

In addition to his role at Legendary Companies, Kawasaki is the SEMA immediate past chairman and secretary of the Board of Directors. He is also an avid collector of vintage and classic cars.

Check out the full video and stay tuned to SEMA eNews for additional interviews from the STAGE, powered by SEMA Education and the SEMA WTC.

By Ashley Reyes

Wade Kawasaki, president and CEO of Legendary Companies, is the latest industry icon featured in recently released video footage from the 2019 SEMA Show STAGE. Produced by SEMA Education in partnership with the SEMA Wheel and Tire Council (WTC), the new series episode includes Kawasaki as he shares his career path and stories of being exposed to the automotive industry at a young age, what advice he would give his younger self and more.

“Work hard, that’s really the name of the game—if you’re willing to focus and apply yourself in a meaningful way to whatever your dream is and have a great time doing it,” said Kawasaki. “You know, as they said, I’m so blessed to be in this industry. I love going to work every day.”

Additional topics include the benefits of selling direct to consumer, his experience selling product internationally versus in the United States and how working at his local speed shop trained him for a successful career in business.

“After getting into business and realizing that it’s the relationships that you develop that are really the important thing, then you realize that if you focus on the relationships with your team and with your customers, then the money will come; and the money will come for a long time,” said Kawasaki.

When asked about his experience learning from industry mentors at such a young age, Kawasaki also shared his thoughts and advice for the younger generation.

“That’s my encouragement with young people today, and why this education program is so great. If you ask, all of these guys are glad to help you. We want to share this passion; we want this to spread and we want everybody to be able to enjoy it.”

In addition to his role at Legendary Companies, Kawasaki is the SEMA immediate past chairman and secretary of the Board of Directors. He is also an avid collector of vintage and classic cars.

Check out the full video and stay tuned to SEMA eNews for additional interviews from the STAGE, powered by SEMA Education and the SEMA WTC.

By Ashley Reyes

Wade Kawasaki, president and CEO of Legendary Companies, is the latest industry icon featured in recently released video footage from the 2019 SEMA Show STAGE. Produced by SEMA Education in partnership with the SEMA Wheel and Tire Council (WTC), the new series episode includes Kawasaki as he shares his career path and stories of being exposed to the automotive industry at a young age, what advice he would give his younger self and more.

“Work hard, that’s really the name of the game—if you’re willing to focus and apply yourself in a meaningful way to whatever your dream is and have a great time doing it,” said Kawasaki. “You know, as they said, I’m so blessed to be in this industry. I love going to work every day.”

Additional topics include the benefits of selling direct to consumer, his experience selling product internationally versus in the United States and how working at his local speed shop trained him for a successful career in business.

“After getting into business and realizing that it’s the relationships that you develop that are really the important thing, then you realize that if you focus on the relationships with your team and with your customers, then the money will come; and the money will come for a long time,” said Kawasaki.

When asked about his experience learning from industry mentors at such a young age, Kawasaki also shared his thoughts and advice for the younger generation.

“That’s my encouragement with young people today, and why this education program is so great. If you ask, all of these guys are glad to help you. We want to share this passion; we want this to spread and we want everybody to be able to enjoy it.”

In addition to his role at Legendary Companies, Kawasaki is the SEMA immediate past chairman and secretary of the Board of Directors. He is also an avid collector of vintage and classic cars.

Check out the full video and stay tuned to SEMA eNews for additional interviews from the STAGE, powered by SEMA Education and the SEMA WTC.

By Fredy Ramirez

SEMA eNews highlights products from member-companies each week. This week's submissions are listed below.

The companies included with the SEMA Data Co-op (SDC) logo are also members of the SDC, the definitive, industry-owned and -operated centralized data repository. Learn more about the SDC at www.semadatacoop.org.

Submit new-product press releases for consideration to editors@sema.org.

Holley Hyperspark Ignition Distributor Holley announces the release of its Hyperspark distributors. The distributor is manufactured to feature a high-quality billet distributor housing that is designed to resist corrosion and give a stylish look to your engine bay. The integrated Hall Effect crank trigger sensor and CNC-machined shutter wheel are engineered to provide a noise-free rpm signal to the ECU. All of the HyperSpark distributors are also available in a black housing. 866-464-6553 www.holley.com PN: 565-309
Go Rhino Bumper Hitch Go Rhino has released its flip-down bumper hitch step for 2-in. hitch receivers. The HS20 Bumper Step is designed to be a multi-function hitch step that has a vertical impact surface that also flips down as a step when needed. The step area is also self-retracting to convert back to a bump stop when the step is not in use. (Hitch-Pin not included.) 888-427-4466 www.gorhino.com PN: HS2012T
Holley EFI Canister Style Ignition Coil Holley introduces its Sniper EFI factory replacement canister-style ignition coil. This ignition coil is potted with an epoxy engineered to make it durable during high-vibration environments and can be mounted in any direction. 866-464-6553 www.holley.com PN: 556-153
Nos Dry Nitrous Plates NOS releases its Dry Nitrous plate for Gen-V LT Hi-Ram manifolds. The plate is designed to bolt between the upper and lower intake manifold. The plate is machined from billet 6061-T6 aluminum, laser etched with NOS logo, then anodized for corrosion protection. The one-piece plate features machined passages constructed for precision spray into the center of each cylinder runner. Includes NOS plate, gasket, jet holders, and jets. 866-464-6553 www.holley.com PN: 12538BNOS
Alliance 4x4 Coolant Filtration Kit Alliance 4x4 announces the release of its universal coolant filtration kit. The CNC-machined billet 6061 aluminum anodized construction filter block is engineered to attache to a supplied bracket that mounts to factory holes. Alliance 4X4 recommends replacement of the first filter at 500 miles and replacement of the second and third filters at 3,000 miles each. After three changes, filter replacements can be replaced once a year. The silicone hose fittings come pre-assembled constructed to ensure pure, leak-proof connections. This universal Coolant Filter Kit includes block, bracket, fittings, tape, 6 ft. of coolant line and hardware. The filter boss includes two threaded inlet ports and one outlet port. Note: If you need extra length hose or different size fittings, call before ordering. 844-920-949 www.alliance4x4.com PN: A4-UCF-01-20
Hot Shot’s Secret Frantz Oil Filter System Hot Shot’s Secret introduces its Ford 6.0 and 6.4L Powerstroke engine Quick Install Frantz Bypass Oil Filter System. The system is designed to remove up to 96% of all wear particles from engine oil for improved engine protection, engine life and extended oil drain intervals. The purpose of the Frantz Filter System is to deliver an endless supply of clean oil to your engine. The System is engineered to filter oil more than ten times finer than an OEM filter. The custom system includes a Frantz filter, an oil filter cap, an oil-fill cap, a gasket and two quick-release pre-made stainless-steel braided hose lines. 800-341-6516 HotShotSecret.com PN: Vary
Design Engineering Inc. Pre-Cut Hood Design Engineering Inc. announces the release of its Pre-Cut Hood Insulation Kits for musclecars. The Pre-Cut Hood Insulation Kits are constructed to control heat and sound in the engine bay, ad to protect the vehicle’s finish from high temperatures and chemicals. Kits are available for a variety of musclecar applications. 800-264-9472 www.designengineering.com PN: ’64–’65 Chevrolet Chevelle (#050128) ’66 Chevrolet Chevelle (#050127) ’67 Chevrolet Chevelle (#050126) ’68–’69 Chevrolet Chevelle (#050125) ’70–’72 Chevrolet Chevelle (with non-functional cowl) (#050124) ’67–’69 Chevrolet Camaro (Z/28, SS, base) (#050099) ’69–’70 Ford Mustang (base, Mach 1, Grande, GT-350, GT) (#050098) ’66–’67 Chevrolet Nova (#050093) ’69–’74 Chevrolet Nova (#050096) ’71–’74 Pontiac Ventura (base, GTO) (#050096) ’73–’74 Oldsmobile Omega (#050096) ’73–’74 Buick Apollo (#050096) ’65–’67 Pontiac LeMans/GTO (#050094) ’68–’70 Pontiac LeMans/GTO (#050095)