Category Archives: Coronavirus Alerts

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 […]

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 […]

Revised Report on the CARES Act Paycheck Protection Program (PPP) Loans – Use This Document to Guide Your Borrower Application

April 3, 2020 – This Update Replaces Those Dated on March 29 and 31, 2020 NPA’s Team GRC is keeping watch on new Guidance and a new Interim Final Rule for the Paycheck Protection Loan Program. The SBA issued a new application form for the PPP Loans late on April 2, 2020, which replaces the […]

DOCUMENTS: Officials Determine Pawnbrokers As “Financial institutions” – Ongoing

The NPA’s Team GRC has been tracking Governors, State, county, mayoral determinations, and State Association guidance relating to declaring pawnbrokers “financial Institutions.” Please see the list of States below and click to reveal detailed information.

New Information on the “Paycheck Protection Program” Loans Authorized by the CARES Act and Possible Eligibility for Pawnbrokers

March 31, 2020 The NPA’s Team GRC received additional information today about the CARES Act that the SBA may make the new Paycheck Protection Program (“PPP”) loans available to pawnbrokers. We are only providing new information we have and it is subject to SBA guidance, which we are told not to expect any earlier than […]

First Report on March 27, 2020 CARES Act Loan Programs and Tax Benefits Available to Pawnbrokers

March 29, 2020 NPA’s Team GRC obtained additional guidance on tax and SBA issues from Venable, a major Washington, D.C. law firm. We will provide additional COVID-19 updates as more information becomes available.  What New Relief Is AVAILABLE NOW to Pawnbrokers? SBA Economic Injury Disaster (EIDL) Program loans available only to businesses with 500 or […]

Families First Coronavirus Response Act (“FFCRA”) Paid Sick Leave Changes to the FMLA and FLSA: Deadline to Notify Your Employees Using the Poster Published by the Department of Labor Is April 1, 2020

You can download and print the poster free of charge from the NPA website or the Department of Labor at Be sure to save the downloaded file so you can copy or scan or print for posting in the workplace and providing to all teleworkers, as well. You can order free copies from 1-866-4-WAGE, […]

Identification of Essential Critical Infrastructure Workers During COVID-19 Response

MEMORANDUM EXCERPT: “As the Nation comes together to slow the spread of COVID-19, on March 16th the President issued updated Coronavirus Guidance for America that highlighted the importance of the critical infrastructure workforce. “ Christopher C. Krebs  Director, Cybersecurity and Infrastructure Security Agency (CISA) 

Team GRC Outreach during the COVID-19 Emergency

March 26, 2020 Since March 1, 2020, the Government Relations Committee has been engaged on a daily basis in  responding to questions posed by members either through the NPA Office or directly to Fran Bishop as GRC Liaison,  reviewing, preparing and issuing GRC Updates for all pawnbrokers on legislation pending in Congress to address issues […]