Author Archives: Margie Swoyer

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”. […]


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 […]

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 […]

Preparing Paycheck Protection Program Loan “Forgiveness” Applications

On May 15, 2020, the Small Business Administration (SBA) published the application form that recipients of Paycheck Protection Program (PPP) loans must use to apply for full or partial forgiveness of their PPP loans. The full application package (11 pages including instructions), is on SBA Form 3508 dated 05/20. You can download a pdf HERE […]

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 […]

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 […]

IRS Guidance Notice 2020-32 Detailing Limits on Deducting Business Expenses Covered by Loans Eligible for Forgiveness under the CARES Act’s Paycheck Protection Program

Your NPA Team GRC follows developments related to the CARES Act on a daily basis. Late on May 1, 2020 we focused on IRS guidance covering the deduction of business expenses for payroll, rent, and the like if the employer received actual loan forgiveness under the CARES Act and its authorization of the Paycheck Protection […]

Pawn Expo 2020 Has Been Cancelled

On behalf of the NPA Board of Directors, I regret to inform you Pawn Expo 2020 has been cancelled for this year.  We are saddened this unfortunate measure needed to be taken, but consider the health, safety and well-being of our members, staff, vendors and affiliates to be of paramount concern. We are confident this […]

SBA Tells Nearly 8,000 Businesses Applying for Economic Injury Disaster Loans (EIDL) Their Personal Information Was Exposed on Its Website

Breaking News from Tuesday, April 21, 2020 NPA’s Team GRC has located several media articles covering the SBA’s admission that its online application portal for the EIDL program leaked 8,000 applicants’ personal information to other later applicants on the same online portal. One report first found by NPA’s Washington counsel, Cliff Andrews, is from Business […]

An Introduction From Our Executive Director

April 19, 2020 As anyone would be, I am daunted by the work ahead, but I am also encouraged and optimistic — because of you. Already, pawnbrokers across the country are demonstrating how they are an important lifeline to the communities that are hit hardest by this pandemic. You continue to show the world what […]

Information for Pawnbrokers about Eligibility for Payroll Protection Program Loans Under the CARES Act of 2020

April 13, 2020 Pawnbrokers have reported experiencing delays in receiving loan proceeds from their Payroll Protection Program (“PPP”) loan applications due to bankers’ uncertainty about eligibility. Others have been turned away by banks and told they could not apply for PPP loans because “lenders are not eligible.” Below is NPA’s position that pawnbrokers are eligible and […]