PPP Policy Update: Federal Debrief
IMPORTANT UPDATE
The President signed H.R. 7010 — the Paycheck Protection Program Flexibility Act — which passed the House of Representatives last week and the Senate this week. The legislation modifies the Paycheck Protection Program (PPP) to help small businesses through a number of key provisions. It extends the time frame that borrowers have to spend their PPP loans, from 8 weeks to 24 weeks, an important step for most PPP recipients. Additional provisions include:
- Lowering the payroll requirements from 75 percent to 60 percent.
- Extending the loan coverage from June 2020 to December 31, 2020.
- Extending loan term from two years to five years, for the portion that isn’t forgiven.
About CSA Team
CSA’s Executive Director, Roy Flahive, has worked within the sign industry for more than 50 years. He served an apprenticeship in the International Brotherhood of Electrical Workers (IBEW), owned his own sign company for almost 30 years and he is well-known and highly respected in the sign industry, having served on numerous boards, including those of the International Sign Association (ISA), San Diego Area Lighting Advisory Council, Arizona Sign Association, Western States Sign Council, San Diego Mayors Sign Code Task Force, and UL’s Industry Advisory Committee. Notably, Flahive has twice been elected President (Chairman of the Board) of CSA and has served over 30 years on that board.
Cheryl Flahive, CSA’s Director of Member Services, has worked within the sign industry for over 33 years; twenty of those years, as vice president of a sign company in southern California. She has served in various administrative roles, from finance to project management, and is dedicated to helping CSA members at all levels.
The CSA Communications Committee, made up of committed industry leaders, works in a behind the scenes capacity, to keep CSA members educated and informed.