By SEMA Washington, D.C., Staff

Companies that received a Paycheck Protection Program (PPP) loan may now be eligible to request forgiveness for at least eight weeks of payroll costs, rent and other bills. The U.S. Small Business Administration (SBA) has revised the recently-issued application for requesting full forgiveness. The SBA has also created an EZ version application for borrowers that:

• Did not reduce the salaries or wages of their employees by more than 25%, and did not reduce the number or hours of their employees, OR
• Experienced reductions in business activity as a result of health directives related to COVID-19 and did not reduce the salaries or wages of their employees by more than 25%, OR
• Are self-employed and have no employees.

The EZ application requires fewer calculations and less documentation for eligible borrowers. Details regarding the applicability of these provisions are available in the instructions to the new EZ application form. Both applications give borrowers the option of using the original eight-week covered period or an extended 24-week covered period. 

• EZ Forgiveness Application
• Full Forgiveness Application

For more information, visit the SBA website.

By SEMA Washington, D.C., Staff

Companies that received a Paycheck Protection Program (PPP) loan may now be eligible to request forgiveness for at least eight weeks of payroll costs, rent and other bills. The U.S. Small Business Administration (SBA) has revised the recently-issued application for requesting full forgiveness. The SBA has also created an EZ version application for borrowers that:

• Did not reduce the salaries or wages of their employees by more than 25%, and did not reduce the number or hours of their employees, OR
• Experienced reductions in business activity as a result of health directives related to COVID-19 and did not reduce the salaries or wages of their employees by more than 25%, OR
• Are self-employed and have no employees.

The EZ application requires fewer calculations and less documentation for eligible borrowers. Details regarding the applicability of these provisions are available in the instructions to the new EZ application form. Both applications give borrowers the option of using the original eight-week covered period or an extended 24-week covered period. 

• EZ Forgiveness Application
• Full Forgiveness Application

For more information, visit the SBA website.

By Ashley Reyes

Shawn Mastrian

Join the SEMA Emerging Trends and Technology Network (ETTN) for a Facebook Live Chat on Product Roadmapping, featuring Shawn Mastrian, CEO of Darkside Scientific Inc., June 24, at 12:00 p.m. (PDT).

Mastrian will describe and field questions on the process for taking a product to market and discuss the evolution of LumiLor, Darkside Scientific Inc.’s award-winning electroluminescent coating system. Participants will learn about the development of the product and challenges presented in the marketplace.

Topics will include assessing the market, delivering a product-market fit, and reacting to the market adoption, therefore altering the future product roadmap, especially where limited funding is a constraint.

Mastrian has more than 30 years of experience in leadership positions with companies such as Accenture and IBM. In addition to his nine years at Darkside Scientific Inc., he holds a chemical engineering degree from MIT, and is currently restoring a ’69 Lincoln Continental with the LumiLor product.

Visit the ETTN Facebook page, Wednesday, June 24, at 12:00 p.m. (PDT).

By Ashley Reyes

Shawn Mastrian

Join the SEMA Emerging Trends and Technology Network (ETTN) for a Facebook Live Chat on Product Roadmapping, featuring Shawn Mastrian, CEO of Darkside Scientific Inc., June 24, at 12:00 p.m. (PDT).

Mastrian will describe and field questions on the process for taking a product to market and discuss the evolution of LumiLor, Darkside Scientific Inc.’s award-winning electroluminescent coating system. Participants will learn about the development of the product and challenges presented in the marketplace.

Topics will include assessing the market, delivering a product-market fit, and reacting to the market adoption, therefore altering the future product roadmap, especially where limited funding is a constraint.

Mastrian has more than 30 years of experience in leadership positions with companies such as Accenture and IBM. In addition to his nine years at Darkside Scientific Inc., he holds a chemical engineering degree from MIT, and is currently restoring a ’69 Lincoln Continental with the LumiLor product.

Visit the ETTN Facebook page, Wednesday, June 24, at 12:00 p.m. (PDT).

By SEMA Washington, D.C., Staff

The U.S. Senate passed the Great American Outdoors Act (GAOA), a bill that is critically important to revitalizing America’s outdoor recreation industry. The GAOA would dedicate $9.5 billion over the next five years to address the maintenance backlog on federally owned lands by creating a national parks and public land legacy restoration fund. The bill would also appropriate $900 million annually to the Land and Water Conservation Fund (LWCF), which allocates funding to protect natural areas, water resources, cultural heritage sites and to provide recreation opportunities. The SEMA-supported legislation is critical to addressing the infrastructure needs facing our public lands and waters, such as improving trails, roads, docks, campgrounds and more. The GAOA will now move to the U.S. House of Representatives for its consideration.

Enactment of the GAOA into law would benefit many SEMA members in the off-road market (four-wheel, ATVs and UTVs) in addition to companies producing and selling wheels/tires, suspension, power and other equipment to help tow RVs and boats to the nation’s parks and recreation areas. SEMA and 30 other national associations that comprise the Outdoor Recreation Roundtable (ORR) have called on the U.S. Congress to pass the GAOA. Addressing the infrastructure needs of our public lands will create jobs and provide Americans with access to open spaces.

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

By SEMA Washington, D.C., Staff

The U.S. Senate passed the Great American Outdoors Act (GAOA), a bill that is critically important to revitalizing America’s outdoor recreation industry. The GAOA would dedicate $9.5 billion over the next five years to address the maintenance backlog on federally owned lands by creating a national parks and public land legacy restoration fund. The bill would also appropriate $900 million annually to the Land and Water Conservation Fund (LWCF), which allocates funding to protect natural areas, water resources, cultural heritage sites and to provide recreation opportunities. The SEMA-supported legislation is critical to addressing the infrastructure needs facing our public lands and waters, such as improving trails, roads, docks, campgrounds and more. The GAOA will now move to the U.S. House of Representatives for its consideration.

Enactment of the GAOA into law would benefit many SEMA members in the off-road market (four-wheel, ATVs and UTVs) in addition to companies producing and selling wheels/tires, suspension, power and other equipment to help tow RVs and boats to the nation’s parks and recreation areas. SEMA and 30 other national associations that comprise the Outdoor Recreation Roundtable (ORR) have called on the U.S. Congress to pass the GAOA. Addressing the infrastructure needs of our public lands will create jobs and provide Americans with access to open spaces.

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

By SEMA Washington, D.C., Staff

The U.S. Senate passed the Great American Outdoors Act (GAOA), a bill that is critically important to revitalizing America’s outdoor recreation industry. The GAOA would dedicate $9.5 billion over the next five years to address the maintenance backlog on federally owned lands by creating a national parks and public land legacy restoration fund. The bill would also appropriate $900 million annually to the Land and Water Conservation Fund (LWCF), which allocates funding to protect natural areas, water resources, cultural heritage sites and to provide recreation opportunities. The SEMA-supported legislation is critical to addressing the infrastructure needs facing our public lands and waters, such as improving trails, roads, docks, campgrounds and more. The GAOA will now move to the U.S. House of Representatives for its consideration.

Enactment of the GAOA into law would benefit many SEMA members in the off-road market (four-wheel, ATVs and UTVs) in addition to companies producing and selling wheels/tires, suspension, power and other equipment to help tow RVs and boats to the nation’s parks and recreation areas. SEMA and 30 other national associations that comprise the Outdoor Recreation Roundtable (ORR) have called on the U.S. Congress to pass the GAOA. Addressing the infrastructure needs of our public lands will create jobs and provide Americans with access to open spaces.

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

By SEMA Washington, D.C., Staff

Under Governor Wolf’s Process to Reopen Pennsylvania plan, counties in the state are placed in either the red, yellow or green phase, with each new phase allowing additional businesses to operate.

Pennsylvania Governor Tom Wolf issued updated business guidance allowing outdoor recreation facilities, including motorsports, to resume operation in the state.

Under the Governor’s Process to Reopen Pennsylvania plan, counties in the state are placed in either the red, yellow or green phase, with each new phase allowing additional businesses to operate. All Pennsylvania counties are currently in the yellow or green phase. Motorsports facilities in counties in the yellow phase can operate at 50% capacity, while those in the green phase can operate at 75% capacity, with additional restrictions in place to maintain social distancing.

The Pennsylvania legislature previously introduced a bill to allow outdoor recreational activities, including professional and amateur motorsports, to resume immediately under certain conditions. The bill currently awaits a final vote in the House of Representatives.

For more information, visit the SEMA Action Network (SAN) website.

The Performance Racing Industry has compiled an up-to-date listing of motorsports’ status in each state. Click here to discover whether racing venues in your area are ready to drop the green flag.

For details, contact Christian Robinson at stateleg@sema.org.

By SEMA Washington, D.C., Staff

Under Governor Wolf’s Process to Reopen Pennsylvania plan, counties in the state are placed in either the red, yellow or green phase, with each new phase allowing additional businesses to operate.

Pennsylvania Governor Tom Wolf issued updated business guidance allowing outdoor recreation facilities, including motorsports, to resume operation in the state.

Under the Governor’s Process to Reopen Pennsylvania plan, counties in the state are placed in either the red, yellow or green phase, with each new phase allowing additional businesses to operate. All Pennsylvania counties are currently in the yellow or green phase. Motorsports facilities in counties in the yellow phase can operate at 50% capacity, while those in the green phase can operate at 75% capacity, with additional restrictions in place to maintain social distancing.

The Pennsylvania legislature previously introduced a bill to allow outdoor recreational activities, including professional and amateur motorsports, to resume immediately under certain conditions. The bill currently awaits a final vote in the House of Representatives.

For more information, visit the SEMA Action Network (SAN) website.

The Performance Racing Industry has compiled an up-to-date listing of motorsports’ status in each state. Click here to discover whether racing venues in your area are ready to drop the green flag.

For details, contact Christian Robinson at stateleg@sema.org.

By SEMA Washington, D.C., Staff

Under Governor Wolf’s Process to Reopen Pennsylvania plan, counties in the state are placed in either the red, yellow or green phase, with each new phase allowing additional businesses to operate.

Pennsylvania Governor Tom Wolf issued updated business guidance allowing outdoor recreation facilities, including motorsports, to resume operation in the state.

Under the Governor’s Process to Reopen Pennsylvania plan, counties in the state are placed in either the red, yellow or green phase, with each new phase allowing additional businesses to operate. All Pennsylvania counties are currently in the yellow or green phase. Motorsports facilities in counties in the yellow phase can operate at 50% capacity, while those in the green phase can operate at 75% capacity, with additional restrictions in place to maintain social distancing.

The Pennsylvania legislature previously introduced a bill to allow outdoor recreational activities, including professional and amateur motorsports, to resume immediately under certain conditions. The bill currently awaits a final vote in the House of Representatives.

For more information, visit the SEMA Action Network (SAN) website.

The Performance Racing Industry has compiled an up-to-date listing of motorsports’ status in each state. Click here to discover whether racing venues in your area are ready to drop the green flag.

For details, contact Christian Robinson at stateleg@sema.org.