Friday, March 27 was a very important day for the economic recovery of the United States from the Covid-19 crisis. The Coronavirus Aid, Relief and Economic Security (CARES) Act was passed and signed into law on the 27th. 

 

While we do not know when the crisis will end, there is starting to be relief provided for employees and business owners. There may be more needed down the line, but there are some very significant programs in place for dealership employees and owners.

 

KEA Advisors are not experts in the details of these programs or how they will be administered. However, it is of vital importance to you to know where to look and who to talk to so you can get more information. 

 

KEA Advisors has strategic relationships with both Dixon Hughes Goodman and Clifton Larson Allen. The following are links to information from both of their websites regarding the CARES Act and Covid-19.

 

https://www.dhg.com/article/cares-act-contains-sba-loan-provisions-favorable-to-most-dealerships#.Xn80Cn5dBIw.linkedin

 

You can contact Adam Lawyer of Dixon Hughes Goodman for more information adam.lawyer@dhg.com

 

https://www.claconnect.com/campaign/covid-19

 

You can contact Scott Gorden of Clifton Larson Allen for more information scott.gorden@cliftonlarsonallen.com

 

In addition, this is information from the National Law Review that provides additional information on the Paycheck Protection Program, which is a portion of the CARES Act.

 

https://www.natlawreview.com/article/paycheck-protection-program-sba-loan-program-expanded-cares-act

 

Finally, the following is an excellent overview of the entire CARE Act. There is some very good information for individuals and employees as well as the various programs for businesses.

 

https://kindredcpa.com/cares-act-highlights/

 

As always, our relationship with you is a relationship as partners, not a customer/vendor. We are going to be continuing to provide information, services, products, etc. that will continue to add value to you and your business through and out of this crisis. Thank you again for the opportunity to serve you.

Helpful Links:

https://www.nada.org/WorkArea/DownloadAsset.aspx?id=21474860914

The CARES Act and its Impact on Dealerships - Webinar Recording

Address. 3320 Mesa Way, Ste D Lawrence, KS 66049

Tel. 785.842.6498

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