Category Archives: Members Only

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 […]

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 […]

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 https://www.dol.gov/agencies/whd/posters. 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 […]

Families First Coronavirus Act

Families First Coronavirus Response Act’s Employer Paid Leave RequirementsMarch 26, 2020  This Update covers information provided by the U.S. Department of Labor on the Phase 2 legislation, formerly described as H.R. 6201. The NPA will continue to update this information as more details become available. The information below supplements the Government Relations Update posted on March […]

Pawn Employees Work Travel Sample Letter – Pawn Store Employees Should Not Be Prevented from Getting to Work

Please see to the template sample text below. Please note, the National Pawnbrokers Association Does Not Provide Any Form of Legal Advice ALERT: Pawnbrokers should watch for any declarations from their city or county governments about pawn stores being allowed to operate, or not. Then, if needed, contact those city or county offices for clarification ASAP.  […]