Category Archives: NPA News

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Paycheck Protection Program’s “Good Faith Certifications” – FAQ No. 46

New Small Business Administration Guidance May 14, 2020 On May 13, 2020, Team GRC’s Cliff Andrews obtained an advance copy of new guidance from the SBA that relates to the SBA’s intentions on auditing borrowers who obtained Paycheck Protection Program (PPP) loans. This guidance – to be published as FAQ No. 46 shortly – contains […]

Recipients of Paycheck Protection Program Loans

This week, the Small Business Administration (SBA) extended to May 14, 2020–next Thursday–the deadline for some recipients of Paycheck Protection Program (PPP) loans to return funds they received and have chosen not to use for any reason. PPP funds returned by the May 14th deadline will qualify as a “good faith certification” and relieve the […]

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 […]

National Pawnbrokers Association Announces New Executive Director, Kristen Williams

April 7, 2020, FOR IMMEDIATE RELEASE The National Pawnbrokers Association Board of Directors announces a management reorganization Southlake, TX – The National Pawnbrokers Association (NPA), the pawn industry’s only national association, announces the appointment of a new Executive Director, Kristen Williams. “We are excited to welcome Kristen Williams to the NPA and the pawn industry. […]

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 […]