Sharing a positive news story about pawnbroking is an easy step you can take to help positively impact the perception of pawn. Want to learn more about getting media hits for YOUR pawnshop? Reach out to your NPA Staff! US NEWS AND WORLD REPORT: AS CASES OF COVID-19 spread across the nation in the spring, Bob Moulton decided it was best to close his …
SHARE-WORTHY STORIES FROM YOUR INDUSTRY 9-3-2020
SHARE-WORTHY STORIES FROM YOUR INDUSTRY Sharing a positive news story about pawnbroking is an easy step you can take to help positively impact the perception of pawn. Want to learn more about getting media hits for YOUR pawnshop? Reach out to your NPA Staff! US NEWS AND WORLD REPORT: AS CASES OF COVID-19 spread across the nation in the spring, Bob Moulton decided …
SHARE-WORTHY STORIES FROM YOUR INDUSTRY 8-27-20
SHARE-WORTHY STORIES FROM YOUR INDUSTRY When you use your online channels and network to share a positive news story about pawnbroking, you align yourself with the industry’s best and increase the likelihood that it will be seen by legislators, influencers, and others whose perception will be changed for the better. PEOPLE TURNING TO PAWN SHOPS FOR QUICK CASH AS …
Webinar: Navigating Challenging Media Encounters
Whether the news is good or bad, getting a call from a reporter can be an intimidating prospect. As a business leader, it’s your job to promote and protect your brand. In this informative webinar, you’ll hear from industry leaders who will provide you with a roadmap to navigating even the most challenging media encounters. This training is free and …
SBA Issues New PPP Loan Forgiveness Forms
June 22, 2020 On June 17, 2020, the Small Business Administration (SBA) published two new loan forgiveness forms that conform to the changes in the Paycheck Protection Program enacted by H. R. 7010. (View June 5, 2020 GRC Update Congress Modifies Major CARES Act’s Provisions on Loan Forgiveness and Payroll Taxes.) We now focus on PPP forgiveness for pawnbrokers who …
Has the SBA Denied Your EIDL Application? NPA Information to Help Pawnbrokers Seek Reconsideration
Has the SBA Denied Your EIDL Application? NPA Information to Help Pawnbrokers Seek Reconsideration of their EIDL Eligibility. June 9, 2020 NPA’s Team GRC has learned from several pawnbrokers of their EIDL applications being denied by the Small Business Administration (SBA). The SBA’s denial merely states that the applicant’s “business activity is not eligible”. Team GRC’s additional research returned …
#PAWNSTRONG RELIEF FUND
EMERGENCY RELIEF FUND STRUCTURE #PAWNSTRONG – Emergency Relief Fund Rules The NPA #PAWNSTRONG Relief Fund is being set up to collect monies to help cover unexpected expenses directly resulting from the riots and violent protest that have taken place nationwide in the wake of George Floyd’s death. These funds will be distributed to NPA Member Pawnbrokers who apply for relief funds and …
Congress Modifies Major CARES Act’s Provisions on Loan Forgiveness and Payroll Taxes
June 5, 2020 On Wednesday, June 3rd, the Senate passed H.R. 7010, the “Paycheck Protection Program Flexibility Act of 2020”. The bill is now headed to the President’s desk for his signature. H.R. 7010 makes important changes that should help all Paycheck Protection Program (PPP) borrowers: Extends the “covered period” for borrowers to spend PPP loan funds to December 31, …
Additional Information Regarding EIDL and PPP Programs
As Of May 20, 2020 As we monitor all developments related to the EIDL and PPP programs from the Congress, SBA, and Treasury, we have seen a few shifts that are likely to affect pawnbrokers’ decisions going forward. We also continue to do everything possible using the NPA’s GRC resources to look forward and anticipate the next wave of …
Pawn Shops See New Loans Plummet Amid Pandemic
By Angi Gonzalez Manhattan PUBLISHED 8:40 AM ET May. 15, 2020 The normal stream of customers heading into EZ Pawn shops has slowed to a trickle.“People assume that pawn shops thrive in times of desperation and that’s just not where we are right now,” said Lauren Kaminsky, President of EZ Pawn Corp. Pawn shops were exempted from Governor Cuomo’s order closing all …
Paycheck Protection Program’s “Good Faith Certifications” – FAQ No. 46
New Small Business Administration Guidance May 14, 2020 On May 13, 2020, Team GRC’s Cliff Andrews obtained an advance copy of new guidance from the SBA that relates to the SBA’s intentions on auditing borrowers who obtained Paycheck Protection Program (PPP) loans. This guidance – to be published as FAQ No. 46 shortly – contains some very good news for …
Preparing for PPP Loan “Forgiveness” Applications
Pawnbrokers who have received PPP loans need to take steps now to calculate and prove the amount of loan “forgiveness” that the PPP program may allow them to receive. The PPP program covers eight weeks of certain expenses to encourage the retention of employees or their rehiring as the business reopens. Specific types of business expenses and in certain proportions …
Recipients of Paycheck Protection Program Loans
This week, the Small Business Administration (SBA) extended to May 14, 2020–next Thursday–the deadline for some recipients of Paycheck Protection Program (PPP) loans to return funds they received and have chosen not to use for any reason. PPP funds returned by the May 14th deadline will qualify as a “good faith certification” and relieve the recipient of the risk of …