By SEMA Washington, D.C., Staff

President Trump signed the Paycheck Protection Program and Health Care Enhancement Act into law on April 24, 2020, which provided $320 billion in additional funds to the Paycheck Protection Program (PPP) and $60 billion to the U.S. Small Business Administration’s (SBA) Economic Injury Disaster Loan (EIDL) program. SEMA-member companies looking to apply for the PPP loan should contact a bank where they have an existing relationship immediately, as strong demand for the loans is expected to exhaust the additional funding for the program next week. For more details, visit the SBA’s PPP page, which includes the application form and frequently asked questions.

The SBA is not accepting additional EIDL applications at the time of SEMA eNews publication, as the agency anticipates that a backlog of applications will exhaust the additional $60 billion in program funding. SEMA is urging lawmakers to add more money to both the EIDL and PPP programs.

The PPP provides loan guarantees for small businesses that equal up to 250% of a company’s monthly payroll (capped at $10 million). The SBA will forgive that portion of the PPP loan used to cover payroll, mortgage interest, rent payments and the cost of utilities for the first eight weeks if small businesses retain their employees and payroll levels. Under the EIDL program, a loan of up to $2 million at 3.75% may be used to pay fixed debts, payroll and other bills, with the first $10,000 being a forgivable grant.

For more information on PPP, EIDL and other federal programs related to COVID-19, check out SEMA’s resources at www.sema.org/coronavirus.

For more information, contact Eric Snyder at erics@sema.org.

By SEMA Washington, D.C., Staff

President Trump signed the Paycheck Protection Program and Health Care Enhancement Act into law on April 24, 2020, which provided $320 billion in additional funds to the Paycheck Protection Program (PPP) and $60 billion to the U.S. Small Business Administration’s (SBA) Economic Injury Disaster Loan (EIDL) program. SEMA-member companies looking to apply for the PPP loan should contact a bank where they have an existing relationship immediately, as strong demand for the loans is expected to exhaust the additional funding for the program next week. For more details, visit the SBA’s PPP page, which includes the application form and frequently asked questions.

The SBA is not accepting additional EIDL applications at the time of SEMA eNews publication, as the agency anticipates that a backlog of applications will exhaust the additional $60 billion in program funding. SEMA is urging lawmakers to add more money to both the EIDL and PPP programs.

The PPP provides loan guarantees for small businesses that equal up to 250% of a company’s monthly payroll (capped at $10 million). The SBA will forgive that portion of the PPP loan used to cover payroll, mortgage interest, rent payments and the cost of utilities for the first eight weeks if small businesses retain their employees and payroll levels. Under the EIDL program, a loan of up to $2 million at 3.75% may be used to pay fixed debts, payroll and other bills, with the first $10,000 being a forgivable grant.

For more information on PPP, EIDL and other federal programs related to COVID-19, check out SEMA’s resources at www.sema.org/coronavirus.

For more information, contact Eric Snyder at erics@sema.org.

By SEMA Washington, D.C., Staff

President Trump signed the Paycheck Protection Program and Health Care Enhancement Act into law on April 24, 2020, which provided $320 billion in additional funds to the Paycheck Protection Program (PPP) and $60 billion to the U.S. Small Business Administration’s (SBA) Economic Injury Disaster Loan (EIDL) program. SEMA-member companies looking to apply for the PPP loan should contact a bank where they have an existing relationship immediately, as strong demand for the loans is expected to exhaust the additional funding for the program next week. For more details, visit the SBA’s PPP page, which includes the application form and frequently asked questions.

The SBA is not accepting additional EIDL applications at the time of SEMA eNews publication, as the agency anticipates that a backlog of applications will exhaust the additional $60 billion in program funding. SEMA is urging lawmakers to add more money to both the EIDL and PPP programs.

The PPP provides loan guarantees for small businesses that equal up to 250% of a company’s monthly payroll (capped at $10 million). The SBA will forgive that portion of the PPP loan used to cover payroll, mortgage interest, rent payments and the cost of utilities for the first eight weeks if small businesses retain their employees and payroll levels. Under the EIDL program, a loan of up to $2 million at 3.75% may be used to pay fixed debts, payroll and other bills, with the first $10,000 being a forgivable grant.

For more information on PPP, EIDL and other federal programs related to COVID-19, check out SEMA’s resources at www.sema.org/coronavirus.

For more information, contact Eric Snyder at erics@sema.org.

By SEMA Editors

Tom Gattuso

ClassicCars.com Journal Managing Editor Tom Stahler talks about the upcoming 2020 SEMA Show with SEMA Vice President of Events Tom Gattuso. As close to 2,000 companies prepare to pick booth space May 4–20, Gattuso talks about what we know now and how things are progressing. 

“We’re all systems go, and we're not anticipating having to change that,” Gattuso reports.

Check out the full interview. (Click on “Season One Episode 7: Tom Gattuso—Will SEMA Happen?”).

For more information on Priority Space Allocation for the 2020 SEMA Show, a proxy form is located on the SEMA Show website.

The 2020 SEMA Show is scheduled for Tuesday–Friday, November 3–6, in Las Vegas. To reserve a booth space, visit www.SEMAShow.com/buyabooth.

By SEMA Editors

Tom Gattuso

ClassicCars.com Journal Managing Editor Tom Stahler talks about the upcoming 2020 SEMA Show with SEMA Vice President of Events Tom Gattuso. As close to 2,000 companies prepare to pick booth space May 4–20, Gattuso talks about what we know now and how things are progressing. 

“We’re all systems go, and we're not anticipating having to change that,” Gattuso reports.

Check out the full interview. (Click on “Season One Episode 7: Tom Gattuso—Will SEMA Happen?”).

For more information on Priority Space Allocation for the 2020 SEMA Show, a proxy form is located on the SEMA Show website.

The 2020 SEMA Show is scheduled for Tuesday–Friday, November 3–6, in Las Vegas. To reserve a booth space, visit www.SEMAShow.com/buyabooth.

A prototype for the facelifted Ferrari Portofino has been spied undergoing tests in Germany. The model saw the day of light in 2017, so 2021 could be just the right time for a makeover before a new Portofino arrives around 2025.

While the rear of the car caught on camera appears to be left unchanged so far, the front is definitely different from the latest model. It comes with a new bumper, new grille and new “bandit” headlights, the latter resembling those of the Ferrari Roma.

Under the hood will be the new 620-hp V8 turbo engine equipped with a new Euro 6.2d temp approval, thanks the introduction of the particulate filter and many other details already seen in the Roma. The new fully digital interior and the new dual clutch gearbox (transaxle) with eight gears instead of the previous seven should also be part of the game.

Photo credit: Brian Williams, SpiedBilde

A prototype for the facelifted Ferrari Portofino has been spied undergoing tests in Germany. The model saw the day of light in 2017, so 2021 could be just the right time for a makeover before a new Portofino arrives around 2025.

While the rear of the car caught on camera appears to be left unchanged so far, the front is definitely different from the latest model. It comes with a new bumper, new grille and new “bandit” headlights, the latter resembling those of the Ferrari Roma.

Under the hood will be the new 620-hp V8 turbo engine equipped with a new Euro 6.2d temp approval, thanks the introduction of the particulate filter and many other details already seen in the Roma. The new fully digital interior and the new dual clutch gearbox (transaxle) with eight gears instead of the previous seven should also be part of the game.

Photo credit: Brian Williams, SpiedBilde

A prototype for the facelifted Ferrari Portofino has been spied undergoing tests in Germany. The model saw the day of light in 2017, so 2021 could be just the right time for a makeover before a new Portofino arrives around 2025.

While the rear of the car caught on camera appears to be left unchanged so far, the front is definitely different from the latest model. It comes with a new bumper, new grille and new “bandit” headlights, the latter resembling those of the Ferrari Roma.

Under the hood will be the new 620-hp V8 turbo engine equipped with a new Euro 6.2d temp approval, thanks the introduction of the particulate filter and many other details already seen in the Roma. The new fully digital interior and the new dual clutch gearbox (transaxle) with eight gears instead of the previous seven should also be part of the game.

Photo credit: Brian Williams, SpiedBilde

A prototype for the facelifted Ferrari Portofino has been spied undergoing tests in Germany. The model saw the day of light in 2017, so 2021 could be just the right time for a makeover before a new Portofino arrives around 2025.

While the rear of the car caught on camera appears to be left unchanged so far, the front is definitely different from the latest model. It comes with a new bumper, new grille and new “bandit” headlights, the latter resembling those of the Ferrari Roma.

Under the hood will be the new 620-hp V8 turbo engine equipped with a new Euro 6.2d temp approval, thanks the introduction of the particulate filter and many other details already seen in the Roma. The new fully digital interior and the new dual clutch gearbox (transaxle) with eight gears instead of the previous seven should also be part of the game.

Photo credit: Brian Williams, SpiedBilde

A prototype for the facelifted Ferrari Portofino has been spied undergoing tests in Germany. The model saw the day of light in 2017, so 2021 could be just the right time for a makeover before a new Portofino arrives around 2025.

While the rear of the car caught on camera appears to be left unchanged so far, the front is definitely different from the latest model. It comes with a new bumper, new grille and new “bandit” headlights, the latter resembling those of the Ferrari Roma.

Under the hood will be the new 620-hp V8 turbo engine equipped with a new Euro 6.2d temp approval, thanks the introduction of the particulate filter and many other details already seen in the Roma. The new fully digital interior and the new dual clutch gearbox (transaxle) with eight gears instead of the previous seven should also be part of the game.

Photo credit: Brian Williams, SpiedBilde