By SEMA Washington, D.C., Staff

Independent contractors and sole proprietors are now eligible to enroll in the U.S. Small Business Administration’s (SBA) emergency loan programs along with other small businesses. As of April 10, 2020, independent contractors, sole proprietors and 501(c)(3) organizations may apply for a Payroll Protection Program (PPP) loan. It is a two-year loan at 1% interest rate that can be used to cover payroll costs, mortgage interest, rent and utilities. Loan proceeds will be forgiven for the amount used to cover payroll, mortgage interest, rent and utilities over the eight-week period after the loan is made. A PPP loan can be up to 250% of monthly payroll subject to a $10 million cap.

Under a separate program, independent contractors, sole proprietors and most non-profit groups including 501(c)(4) and 501(c)(6) organizations may apply for an emergency Coronavirus disaster loan at a 3.75% interest rate for small businesses and 2.75% for non-profits. The first $10,000 is a grant that doesn’t have to be repaid. If a PPP loan is provided at a later date, the disaster loan amount will be deducted. The maximum amounts currently being reported for a disaster loan range from $25,000 to $35,000. Those amounts could increase if Congress provides more funding for the disaster loan program.   

Both loan programs are experiencing a huge demand and backlog on processing. The PPP loan is through a participating bank or local community lending institution. The disaster loan is through the SBA. The U.S. Congress is expected to pass legislation to increase funding for PPP loans, although partisan disagreements over providing additional funding for hospitals and state and local government has slowed down action on the bill. 

For more information, visit SEMA’s website.

Questions? Contact Stuart Gosswein at stuartg@sema.org.

By SEMA Washington, D.C., Staff

Independent contractors and sole proprietors are now eligible to enroll in the U.S. Small Business Administration’s (SBA) emergency loan programs along with other small businesses. As of April 10, 2020, independent contractors, sole proprietors and 501(c)(3) organizations may apply for a Payroll Protection Program (PPP) loan. It is a two-year loan at 1% interest rate that can be used to cover payroll costs, mortgage interest, rent and utilities. Loan proceeds will be forgiven for the amount used to cover payroll, mortgage interest, rent and utilities over the eight-week period after the loan is made. A PPP loan can be up to 250% of monthly payroll subject to a $10 million cap.

Under a separate program, independent contractors, sole proprietors and most non-profit groups including 501(c)(4) and 501(c)(6) organizations may apply for an emergency Coronavirus disaster loan at a 3.75% interest rate for small businesses and 2.75% for non-profits. The first $10,000 is a grant that doesn’t have to be repaid. If a PPP loan is provided at a later date, the disaster loan amount will be deducted. The maximum amounts currently being reported for a disaster loan range from $25,000 to $35,000. Those amounts could increase if Congress provides more funding for the disaster loan program.   

Both loan programs are experiencing a huge demand and backlog on processing. The PPP loan is through a participating bank or local community lending institution. The disaster loan is through the SBA. The U.S. Congress is expected to pass legislation to increase funding for PPP loans, although partisan disagreements over providing additional funding for hospitals and state and local government has slowed down action on the bill. 

For more information, visit SEMA’s website.

Questions? Contact Stuart Gosswein at stuartg@sema.org.

By SEMA Washington, D.C., Staff

Independent contractors and sole proprietors are now eligible to enroll in the U.S. Small Business Administration’s (SBA) emergency loan programs along with other small businesses. As of April 10, 2020, independent contractors, sole proprietors and 501(c)(3) organizations may apply for a Payroll Protection Program (PPP) loan. It is a two-year loan at 1% interest rate that can be used to cover payroll costs, mortgage interest, rent and utilities. Loan proceeds will be forgiven for the amount used to cover payroll, mortgage interest, rent and utilities over the eight-week period after the loan is made. A PPP loan can be up to 250% of monthly payroll subject to a $10 million cap.

Under a separate program, independent contractors, sole proprietors and most non-profit groups including 501(c)(4) and 501(c)(6) organizations may apply for an emergency Coronavirus disaster loan at a 3.75% interest rate for small businesses and 2.75% for non-profits. The first $10,000 is a grant that doesn’t have to be repaid. If a PPP loan is provided at a later date, the disaster loan amount will be deducted. The maximum amounts currently being reported for a disaster loan range from $25,000 to $35,000. Those amounts could increase if Congress provides more funding for the disaster loan program.   

Both loan programs are experiencing a huge demand and backlog on processing. The PPP loan is through a participating bank or local community lending institution. The disaster loan is through the SBA. The U.S. Congress is expected to pass legislation to increase funding for PPP loans, although partisan disagreements over providing additional funding for hospitals and state and local government has slowed down action on the bill. 

For more information, visit SEMA’s website.

Questions? Contact Stuart Gosswein at stuartg@sema.org.

By SEMA Washington, D.C., Staff

Auto manufacturers and suppliers are devising plans that would allow factories and assembly lines to reopen and operate safely as it relates to COVID-19. Although decisions will be made on a company-by-company basis, there appears to be some consensus on what elements of a reopened workplace may include. For example, workers’ temperatures may be taken, workspaces may be expanded to accommodate social distancing and employees may wear masks and gloves.

The Alliance for Automotive Innovation and Original Equipment Suppliers Association has published guidelines and best practices for creating a safe working environment:

Lear Corp. has published a 51-page “Safe Work Playbook,” which it is sharing with the public. The detailed document addresses everything from advanced social-distancing practices to on-site health screening, employee training, sanitizing the workplace and providing personal protective gear like masks, face shields and gloves.

SEMA has compiled additional information about COVID-19 on its website. 

Questions? Contact Stuart Gosswein at stuartg@sema.org.

By SEMA Washington, D.C., Staff

Auto manufacturers and suppliers are devising plans that would allow factories and assembly lines to reopen and operate safely as it relates to COVID-19. Although decisions will be made on a company-by-company basis, there appears to be some consensus on what elements of a reopened workplace may include. For example, workers’ temperatures may be taken, workspaces may be expanded to accommodate social distancing and employees may wear masks and gloves.

The Alliance for Automotive Innovation and Original Equipment Suppliers Association has published guidelines and best practices for creating a safe working environment:

Lear Corp. has published a 51-page “Safe Work Playbook,” which it is sharing with the public. The detailed document addresses everything from advanced social-distancing practices to on-site health screening, employee training, sanitizing the workplace and providing personal protective gear like masks, face shields and gloves.

SEMA has compiled additional information about COVID-19 on its website. 

Questions? Contact Stuart Gosswein at stuartg@sema.org.

By SEMA Washington, D.C., Staff

Auto manufacturers and suppliers are devising plans that would allow factories and assembly lines to reopen and operate safely as it relates to COVID-19. Although decisions will be made on a company-by-company basis, there appears to be some consensus on what elements of a reopened workplace may include. For example, workers’ temperatures may be taken, workspaces may be expanded to accommodate social distancing and employees may wear masks and gloves.

The Alliance for Automotive Innovation and Original Equipment Suppliers Association has published guidelines and best practices for creating a safe working environment:

Lear Corp. has published a 51-page “Safe Work Playbook,” which it is sharing with the public. The detailed document addresses everything from advanced social-distancing practices to on-site health screening, employee training, sanitizing the workplace and providing personal protective gear like masks, face shields and gloves.

SEMA has compiled additional information about COVID-19 on its website. 

Questions? Contact Stuart Gosswein at stuartg@sema.org.

By SEMA Washington, D.C., Staff

Auto manufacturers and suppliers are devising plans that would allow factories and assembly lines to reopen and operate safely as it relates to COVID-19. Although decisions will be made on a company-by-company basis, there appears to be some consensus on what elements of a reopened workplace may include. For example, workers’ temperatures may be taken, workspaces may be expanded to accommodate social distancing and employees may wear masks and gloves.

The Alliance for Automotive Innovation and Original Equipment Suppliers Association has published guidelines and best practices for creating a safe working environment:

Lear Corp. has published a 51-page “Safe Work Playbook,” which it is sharing with the public. The detailed document addresses everything from advanced social-distancing practices to on-site health screening, employee training, sanitizing the workplace and providing personal protective gear like masks, face shields and gloves.

SEMA has compiled additional information about COVID-19 on its website. 

Questions? Contact Stuart Gosswein at stuartg@sema.org.

Here’s the upcoming ’21 Chevy Suburban RST (GM only showed the Tahoe RST) completely undisguised on the street, providing a first look at the vehicle.

The Suburban RST adds a “street-inspired” exterior design to the fullsize SUV, featuring a unique front and rear treatment. Meanwhile, other body features that are finished chrome on other ’21 Suburban models are blacked-out on this model. Inside, the Suburban RST is finished off with RST-specific seats, which feature contrast-color stitching.

Standard power comes from the 5.3L V8 engine, which packs 355 hp and 383 lb.-ft. of torque. The RST can also be equipped with the 3.0L I6 turbo-diesel Duramax engine, which has 277 hp and 460 lb.-ft. of torque. Both engines will be mated to a 10-speed automatic transmission.

GM originally planned to launch the ’21 Suburban in mid-2020, though it’s possible that the coronavirus pandemic could end up delaying that timeline.

Photo credit: Brian Williams, SpiedBilde

Here’s the upcoming ’21 Chevy Suburban RST (GM only showed the Tahoe RST) completely undisguised on the street, providing a first look at the vehicle.

The Suburban RST adds a “street-inspired” exterior design to the fullsize SUV, featuring a unique front and rear treatment. Meanwhile, other body features that are finished chrome on other ’21 Suburban models are blacked-out on this model. Inside, the Suburban RST is finished off with RST-specific seats, which feature contrast-color stitching.

Standard power comes from the 5.3L V8 engine, which packs 355 hp and 383 lb.-ft. of torque. The RST can also be equipped with the 3.0L I6 turbo-diesel Duramax engine, which has 277 hp and 460 lb.-ft. of torque. Both engines will be mated to a 10-speed automatic transmission.

GM originally planned to launch the ’21 Suburban in mid-2020, though it’s possible that the coronavirus pandemic could end up delaying that timeline.

Photo credit: Brian Williams, SpiedBilde

Here’s the upcoming ’21 Chevy Suburban RST (GM only showed the Tahoe RST) completely undisguised on the street, providing a first look at the vehicle.

The Suburban RST adds a “street-inspired” exterior design to the fullsize SUV, featuring a unique front and rear treatment. Meanwhile, other body features that are finished chrome on other ’21 Suburban models are blacked-out on this model. Inside, the Suburban RST is finished off with RST-specific seats, which feature contrast-color stitching.

Standard power comes from the 5.3L V8 engine, which packs 355 hp and 383 lb.-ft. of torque. The RST can also be equipped with the 3.0L I6 turbo-diesel Duramax engine, which has 277 hp and 460 lb.-ft. of torque. Both engines will be mated to a 10-speed automatic transmission.

GM originally planned to launch the ’21 Suburban in mid-2020, though it’s possible that the coronavirus pandemic could end up delaying that timeline.

Photo credit: Brian Williams, SpiedBilde