Fed Introduces Main Street Lending Program

On April 9, the Federal Reserve introduced a new lending program aimed at small and medium sized businesses.

A summary of the program from a dealer’s perspective, provided by our friends at NADA, can be found here.

NADA: Safely Operating Your Dealership During a Pandemic

This resource from NADA is intended to assist dealers with specific issues posed by COVID-19.

The CARES Act & Dealerships: FAQs

This resource from NADA provides guidance on many aspects of the CARES program, including the PPP, EIDL, and unemployment benefits.

Updated: 7/6/20

PPP Loans: Use of Proceeds & Forgiveness

This resource from NADA provides valuable insights into issues involving the forgiveness elements of the PPP loan program. Please note that, as the document stresses, this information is preliminary and does not reflect the further guidance expected from SBA/Treasury on, among other things, the issues noted.

Updated: 7/9/20

Paycheck Protection Program

This link provides comprehensive information from the SBA on this program, including the loan application, loan details and forgiveness criteria, and more.

UPDATE 6/16/20: PPP Loan Forgiveness Application

PPP FAQs for Borrowers & Lenders: Updated 6/25/20

NMEDA Webinar Recording 4/3/20: The SBA’s Paycheck Protection Program View Recording

State Voc Rehab Updates

This page offers a summary of guidance received by NMEDA from state Vocational Rehabilitation (VR) offices regarding temporary procedure and policy changes in response to the COVID-19 pandemic. This page will be updated as the situation evolves.

Updated: 6/25/20

NMEDA Legislative Q&A

This resource has been provided by NMEDA attorney David Lieberman of Webster, Chamberlain & Bean. It provides a simplified overview of the FFCRA and CARES legislative provisions most relevant to NMEDA Members.

Small Business Owners Guide to CARES Act

Another good resource with FAQs on the CARES Act provisions, provided by the Senate’s Committee on Small Business & Entrepreneurship.

New Federal Emergency Leave Mandates FAQ

Responses to frequently asked questions on the Federal Emergency Leave Mandates, provided by NADA.

Updated: 6/26/20

NMEDA Canada COVID-19 Resources

Resources for individuals and businesses specific to Canada.

United Spinal Association COVID Resources

Our partner United Spinal Association offers COVID related health and safety resources to empower wheelchair users.

Information and answers to questions about COVID-19 published herein are provided by NMEDA for voluntary, informational use in the rapidly evolving novel coronavirus crisis. This information does not constitute medical or legal advice, is not intended for use in the diagnosis or treatment of individual conditions, does not endorse products or therapies, recommend or mandate any particular course of medical care, and is not a statement of the standard of care. New evidence may emerge between the time information is developed and when it is published or read. The information is not comprehensive or continually updated. This information is not intended to substitute for the independent professional judgment of health care providers, or legal or tax advisors.  When reviewing government guidance and policy to develop company policy, companies should evaluate their specific situation based on their own facts. NMEDA provides this information on an “as is” basis, and makes no warranty, express or implied, regarding the information, including but not limited to its completeness or accuracy. NMEDA specifically disclaims any warranties of merchantability or fitness for a particular use or purpose. NMEDA assumes no responsibility for any injury or damage to persons or property arising out of or related to any use of this information or for any errors or omissions. Use of the information is subject to the complete NMEDA website Terms of Use.

The appearance of external hyperlinks does not constitute endorsement by NMEDA of the linked websites, or the information, products or services contained therein. NMEDA does not exercise any editorial control over the information you may find at these locations nor does NMEDA make any representation of their accuracy or completeness.  Please contact those websites with any questions.