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The Automotive Service Association (ASA) held a media briefing on March 31 titled, “COVID-19: Its Effect on the Auto Repair Industry.”
The briefing was hosted by Ray Fisher, president/executive director of ASA, and Bob Redding, ASA’s Washington, D.C. representative. U.S. Rep. Buddy Carter (R-Ga.), small business owner and senior member of the U.S. House Committee on Energy and Commerce, served as special guest.
The emergence of COVID-19 has presented a financial challenge for many auto repair shops.
Passage of the CARES Act (Coronavirus Aid, Relief and Economic Security Act) included critical sections important to automotive repairers:
- The new Paycheck Protection Program (PPP)
- The Enhanced Economic Injury Disaster Loans (EIDLs)
Redding discussed these programs with Carter and the next steps for automotive repair shops.
The congressman described the programs in detail and emphasized the need and urgency to provide relief for small businesses in a streamlined, expedited process.
The Paycheck Protection Program will allow small businesses to retain their employees and continue health care benefits for those employees, and provides loan forgiveness provisions that encompass payroll costs, interest on mortgage obligations, and rent and utilities during a specified period of time.
Carter also stated that there has been increased funding for EIDLs and that small business owners can apply for both of these programs.
ASA has been working to ensure that automotive repair facilities aren’t overlooked during the responses to this global health crisis. ASA states that it appreciates the dedicated work of all federal, state and local officials to ensure the utmost safety of all citizens and that automotive repair facilities are categorized as performing essential services.
To listen to the full briefing, click here.