THIS WEEK IN PAWN 9-10-20

Cheryle Bernard NPA News

HOW DOES YOUR PAWNSHOP’S PERFORMANCE COMPARE TO YOUR PEERS? THERE’S ONLY ONE WAY TO FIND OUT. The 2020 Pawn Industry Benchmark Survey will provide real actionable insight into how your store performance compares to the industry standard. Data analysis provides the intelligence by which all major corporations steer their businesses. Now, pawnbrokers who participate in this industry-wide survey will be …

SHARE-WORTHY STORIES FROM YOUR INDUSTRY 9-4-20

Cheryle Bernard Coronavirus Alerts, NPA News

Sharing a positive news story about pawnbroking is an easy step you can take to help positively impact the perception of pawn. Want to learn more about getting media hits for YOUR pawnshop? Reach out to your NPA Staff! US NEWS AND WORLD REPORT:  AS CASES OF COVID-19 spread across the nation in the spring, Bob Moulton decided it was best to close his …

SHARE-WORTHY STORIES FROM YOUR INDUSTRY 9-3-2020

Cheryle Bernard NPA News

SHARE-WORTHY STORIES FROM YOUR INDUSTRY Sharing a positive news story about pawnbroking is an easy step you can take to help positively impact the perception of pawn. Want to learn more about getting media hits for YOUR pawnshop? Reach out to your NPA Staff!   US NEWS AND WORLD REPORT:  AS CASES OF COVID-19 spread across the nation in the spring, Bob Moulton decided …

#DataDrivenPawn

npaofficeadmin NPA News

What areas of your pawnshop are underperforming your peers? There’s only one way to find out. The 2020 Pawn Industry Financial and Operating Performance Benchmark Survey will provide real actionable insight into how your store performance compares to the industry standard. Data analysis provides the intelligence by which all major corporations steer their businesses. Now, pawnbrokers who participate in this industry-wide …

SHARE-WORTHY STORIES FROM YOUR INDUSTRY 8-27-20

Cheryle Bernard NPA News

SHARE-WORTHY STORIES FROM YOUR INDUSTRY When you use your online channels and network to share a positive news story about pawnbroking, you align yourself with the industry’s best and increase the likelihood that it will be seen by legislators, influencers, and others whose perception will be changed for the better.   PEOPLE TURNING TO PAWN SHOPS FOR QUICK CASH AS …

When Must Pawnbrokers Report “Cash Transactions” with Customers to the Internal Revenue Service?

npaofficeadmin NPA News

August 2020 Federal law requires pawnbrokers to report “cash transactions” to the Internal Revenue Service when customers make payments in cash or in a combination of cash and monetary instruments (such as money orders) when the total of payments exceeds $10,000 – by even a penny. Pawnbrokers use IRS Form 8300 to file these reports. The threshold for reporting cash …

SECURITY ALERT: Hackers Are Targeting Businesses Trying to Access the Small Business Administration’s COVID-19 Relief Website

npaofficeadmin Coronavirus Alerts, NPA News

August 14, 2020 The federal Cybersecurity and Infrastructure Security Agency (CISA) issued a warning on August 12, 2020 that some person or group as yet unidentified is attempting to divert individuals from the real Small Business Administration website on COVID-19 relief to a fraudulent site. The public alert described findings that visitors are re-directed to the fraudulent site and targeted …

NPA Confirms Bureau of Alcohol, Tobacco, Firearms and Explosives (BATFE) Contract with LeadsOnline

npaofficeadmin Legislative Updates & Alerts, NPA News

August 4, 2020 More than two years ago the NPA’s Government Relations Committee heard members’ concerns of receiving trace requests on firearms that were pawned by or purchased from their consumer customers. Previously, the BATFE trace requests to FFLs were only on firearms purchased from distributors or manufacturers. We heard you and shared your concerns. The GRC asked questions of …

Request To Urge Members of Congress To Include Automatic PPP Forgiveness in Relief Legislation

npaofficeadmin Coronavirus Alerts, NPA News

Contact Your Members of Congress and Urge Them to Include Automatic Forgiveness for Paycheck Protection Program Loans of $150,000 or Less in the Next COVID-19 Relief Legislation July 22, 2020 Congress is considering legislation that would give businesses additional relief from the COVID-19 pandemic’s damage to the economy. On the wish lists of many small businesses is the provision allowing …

Webinar: Navigating Challenging Media Encounters

npaofficeadmin NPA News

Whether the news is good or bad, getting a call from a reporter can be an intimidating prospect. As a business leader, it’s your job to promote and protect your brand. In this informative webinar, you’ll hear from industry leaders who will provide you with a roadmap to navigating even the most challenging media encounters. This training is free and …

Good News: Non-Recourse Pawn Loans” Remain Excluded from the CFPB Revised Regulations on Payday, Vehicle Title, and Certain Small-Dollar Loans   

npaofficeadmin Coronavirus Alerts, NPA News

July 8, 2020 On July 7, 2020, the CFPB published its long-expected revisions to the Regulation on Payday, Vehicle Title, and Certain Small-Dollar Loans. The text of the amendments and a comprehensive explanation of the reasons behind them can be read HERE. This is a 237 page publication, so we will cover the most important pieces for pawnbrokers here. “Non-recourse …

SBA Issues New PPP Loan Forgiveness Forms

npaofficeadmin Coronavirus Alerts, NPA News

June 22, 2020 On June 17, 2020, the Small Business Administration (SBA) published two new loan forgiveness forms that conform to the changes in the Paycheck Protection Program enacted by H. R. 7010. (View June 5, 2020 GRC Update Congress Modifies Major CARES Act’s Provisions on Loan Forgiveness and Payroll Taxes.) We now focus on PPP forgiveness for pawnbrokers who …

Has the SBA Denied Your EIDL Application?  NPA Information to Help Pawnbrokers Seek Reconsideration

npaofficeadmin Coronavirus Alerts, NPA News

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”. Team GRC’s additional research returned the information that pawn shops are eligible for EIDLs if more than 50% of their income comes from business …

#PAWNSTRONG RELIEF FUND

npaofficeadmin NPA News

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 apply for relief funds and …

Congress Modifies Major CARES Act’s Provisions on Loan Forgiveness and Payroll Taxes

npaofficeadmin Coronavirus Alerts, NPA News

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 loan funds to December 31, …