Tuesday, 07 April 2020 10:19

ASA Colorado Shares Ideas to Help Shops Survive During the COVID-19 Crisis

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ASA Colorado hosted a Facebook Live panel, “Surviving During the COVID-19 Outbreak.”

Mediated by Carm Capriotto of Remarkable Results Radio, the March 30 panel included Bob Redding, Washington, D. C., representative for ASA, as well as four members of ASA Colorado’s Board of Directors: Chairman Bryan Gossel, Immediate Past Chair Brad Pellman, Mechanical Division President Phil Carpenter and Board Member Judi Haglin.


Capriotto referenced “two-week businesses," which were explained by Gossel.


“I was told by my banker that two-week businesses aren’t going to make it," Gossel said. "Even in good times, so many businesses are just two weeks from closing their doors. If that doesn’t resonate and wake you up to the things that you should be paying attention to normally, now you’re forced to pay attention.”


“We’re more than two weeks into this crisis, and we’re worried---we don’t want to lose anyone who services automobiles in our country,” Capriotto said.


Redding shared information on the CARES Act, passed March 27, including the EIDL and the PPP, and how these programs can benefit shops struggling due to the coronavirus.


He also talked about the programs during the ASA’s briefing the following day.


“The intent of Congress and the president is keeping businesses open, keeping people employed and keeping people going to businesses," Redding said. "Importantly, they also want money on the street as quickly as possible.


"The EIDL and PPP are opportunities shops can participate in to get through this crisis, but pay attention to deadlines and start contacting the SBA and your lenders now to get in their queues," Redding said.


Redding said the EIDL includes an emergency cash grant of up to $10,000.


"If you laid people off, the PPP will help you bring them back, plus it has principal forgiveness provisions if certain criteria are met," he said. "The government’s goal is to get money to those who need it fast and help them keep their teams employed.”

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