Congress Passes Funding to Replenish PPP
NIADA calls $310 billion infusion for small business loan program ‘vital’ for independent vehicle dealers.

NIADA calls $310 billion infusion for small business loan program ‘vital’ for independent vehicle dealers.
Image by forcal35 from Pixabay
ARLINGTON, Texas – The latest round of emergency relief funds from the federal government was approved by Congress Thursday night, providing much needed additional funding for the loan program designed to help small businesses – including independent vehicle dealerships – get through the COVID-19 pandemic.
The funding from these loans is vital to keep these tens of thousands of small businesses viable so they can provide needed transportation to their customers.
The House of Representatives passed the Paycheck Protection Program and Health Care Enhancement Act by an overwhelming 388-5 vote Thursday evening, two days after the Senate approved it by a voice vote. The White House said President Trump will sign the measure into law today.
National Independent Automobile Dealers Association CEO Steve Jordan said the new law is a necessary step for dealers across the nation struggling to keep their businesses afloat until the economy gets back to full speed.
“The funding from these loans is vital to keep these tens of thousands of small businesses viable so they can provide needed transportation to their customers,” Jordan said, “and just as important, so they can continue to provide jobs and income to their employees through this crisis.”
The new bill adds $310 billion to the depleted Paycheck Protection Program, which offers loans for small businesses to cover employee salaries, paid sick or medical leave, mortgage or rent payments, utilities and other debt obligations. The loans can be forgiven if certain conditions are met, such as 75 percent of the funds being used for payroll.
The PPP was created March 27 by the previous coronavirus relief bill, the CARES Act, but the $349 billion appropriated for the loans ran out within weeks.
The new bill also provides an additional $60 billion to the Small Business Administration’s Economic Injury Disaster Loan program. Also included in the $484 billion package was $75 billion in funding for hospitals and community health centers, and $25 billion for expanded coronavirus testing.
More Dealer Ops

Ladies and Gentlemen, This Is a Dealership: Why the Fundamentals Still Decide Who Wins
A teaching moment by a legendary football coach happens to apply perfectly in the auto retail space. Learn what it is and how to use it to your store’s advantage.
Read More →
Timing the Market Can Hurt Long-Term Program Performance
For dealer-owned reinsurance entities, avoiding volatility entirely can mean falling behind inflation and missing market rebounds that drive long term surplus growth. Missing just a handful of strong market days can materially impact cumulative returns—an important reminder for long horizon trust and investment strategies.
Read More →
Dealer Ads and the FTC
The agency has made it clear in recent enforcement actions and warnings, in auto retail and other industries, that advertised prices must include all nonoptional costs to the consumer.
Read More →
Used Autos Supply Dwindles
The March shopping surge, despite high prices, cut into inventory by the most since the thick of the pandemic, Cox Automotive analysts calculated.
Read More →
Managing Risk Effectively Through Changing Times
The variables influencing risk pricing have changed significantly over the past five years. Being proactive and responsive to emerging trends is not optional but essential.
Read More →
Survey Reveals What Won't Fix What's Breaking Car Sales
AutoPayPlus says extra-long auto loans are trapping consumers and threatening the dealer trade-in cycle, and that the industry is leveraging the wrong tools to combat high MSRPs.
Read More →
IA American Appoints Two Execs
Senior vice presidents of the company's agent and dealer channels chosen to support general agents and help auto dealers with sales and performance.
Read More →
Cox Automotive Acquires Inspection Firm
Full ownership of Alliance Inspection Management, or AiM, meant to unlock growth for Manheim inspection capabilities
Read More →
Assurant Expands Partnership With Holman
Extended collaboration delivers training, products and performance development to 30 newly acquired Holman dealerships
Read More →
Franchises, Throughput Down in First Half
A handful of states see franchise growth through June, while EV sales per store boost overall business in U.S.
Read More →