The Senate passed the $2 trillion Coronavirus Aid Relief and Economic Security (CARES) Act to provide relief to Americans and businesses during the COVID-19 crisis. The House of Representatives is expected to pass the legislation today, then the president must sign it into law.
What’s available under the Senate bill
Nearly $350 billion in loan funds to help businesses make payroll and cover expenses from Feb. 15 to June 30.
SBA will provide loans up to 250% of an employer’s average monthly payroll, capped at $10 million.
Interest on loans would be capped at 4%.
Loan principal can be forgiven, but interest must be repaid. If an employer cuts workers or reduces pay, the amount of principal forgivable would be reduced proportionately
Under this program, forgiven debt would not be treated as income.
Bill waives most of the SBA’s paperwork requirements and other prerequisites to get funds to businesses faster.
Keep detailed records. Most required paperwork will come later, and businesses will need to document that they needed the loans and used them as intended when they apply for debt forgiveness.
Loans can be used for
Payroll support, including paid sick, vacation, medical, or family leave, retirement benefits, state or local tax, and costs related to the continuation of group health care benefits during those periods of leave.
Employee salaries and wages up to a maximum annual rate of $100,000.
Commissions or similar compensation.
Mortgage payments or rent, including rent under a lease agreement.
Utilities and any other debt obligations that were incurred before the covered period.
It does not cover
Taxes imposed or withheld during the covered period
Compensation of an employee whose principal place of residence is outside the United States
Am I eligible? The SBA generally defines small businesses as fewer than 500 employees. The CARES Act broadens the definition to include companies with 500 employees per location, meaning a powersports chain with 600 employees across 20 locations could qualify, as many franchisees meet this modified definition.
You can also determine if you qualify by clicking here and entering your NAICS code.
Small business owners in all U.S. states and territories are currently eligible to apply for a low-interest loan due to COVID-19.
How do I apply? Click here to apply for disaster loan assistance from the SBA. If you have questions or issues, you can contact the SBA disaster assistance customer service center. Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail email@example.com.
Business must have been in operation on February 15, 2020, and had employees, paid salaries and payroll taxes (includes paid independent contractors as reported on a Form 1099–MISC).
Borrower must make a good faith certification that current economic conditions make the loan request necessary to support ongoing operations.
Borrower must acknowledge that funds will be used to retain workers and maintain payroll or make mortgage payments, lease payments, and utility payments.
Borrower cannot have an application pending for a loan for the same purpose and duplicative of amounts during the period beginning February 15, 2020, and ending December 31, 2020.
Check out this great behind the scenes video that was produced by Vital MX. In it, they spend a day with the Alpinestars Mobile Medical Unit.
This mobile hospital provides much needed medical services at the track for the racers and team staff. The members of the Mobile Medical Team have extensive medical credentials and often provide a consistent face for the members of the tour.
What is it like to a motocross medic? Each and every round of Supercross and Motocross, the Alpinestars Mobile Medical Team is basically a hospital on wheels taking care of not only the riders but mechanics, team members, wives and girlfriends, and whoever needs medical care within the Supercross family. We spent a whole Saturday with the medical staff at this year’s San Diego round of Monster Energy Supercross to get a taste of their 14 hour day. Best case scenario, these guys and gals just get to watch great racing, but as you will see, an incident-free Saturday just doesn’t exist.
As always the images are in alphabetical order by the riders “last name” with all holeshot pictures labeled as “start”.
All images on Lukaitis Photo are keyworded by the last name of each rider and have been since we began in 2005. By searching the site, you will be able to find all images ever taken under that keyword.
Images are available for purchase in print or digital forms for as low as $1.99 each. Please purchase the digital download if you are planning on using the image on your social media accounts. There are several print options available. Anything from a standard print to more art worthy canvas and glass prints.
I am very excited to be working on this project with Ronnie Stewart Racing and Thundercross Associates. If you or your company wants to get involved please send me an email – firstname.lastname@example.org
Brooksville, Florida (January 21, 2020) –Ronnie Stewart Racing and Thundercross Associates are pleased to announce a new partnership that will be beginning at round seven of the 2020 Monster Energy Supercross Series. This exciting collaboration will see Yuasa Battery Inc., the industry standard for powersports batteries in the US and globally for more than 40 years, join as the premier sponsor of Ronnie Stewart Racing. New York businessman, Frank Russell, has joined to support the team with their Husqvarna race bike for 2020.
“Two generations, each with their unique backgrounds, have come together with the same goal in mind. To represent partners at the highest level of professionalism and to stimulate and grow the sport.” Stated Alex Moroz, President, and Owner of Thundercross Associates, the original producer of the Legends and Heroes moto museum. “The Legend and Heroes moto museum tour has worked diligently to preserve the value of the 40+ years of our supercross and motocross history and its impact on the legacy of American motorsports. Ronnie has owned and operated his team since 2013, making a name for himself as “the peoples champion” by his approachable and friendly personality. Ronnie has brought in new, out-of-industry sponsors to his racing efforts, and will continue that same mindset in 2020 building into 2021.”
Officially, Ronnie Stewart Racing, powered by Yuasa Battery, will begin their campaign at Raymond James Stadium, February 15th, and will race nine (9) rounds this Supercross Season. Ronnie says, “I am thrilled to have the opportunity to go racing with our team operating like it previously has. I’m excited to work with Alex and look forward to what is to come.”
Ronnie’s wife and manager, Brooke Stewart, brings a fresh perspective and a resurgence of vision and potential for the team. As a female in a male-dominated sport, there is a focus on getting more women involved, interested, and empowered in the space.
The team is relatable to the average rider and fan. With this in mind, a series of new marketing initiatives will take place this season, including a series of storytelling pieces that will showcase the behind the scenes preparations and what it takes to go racing at a professional level.
“The new partnership with Alex and Yuasa Battery Inc. provides us the platform to share our passion,” said Brooke Stewart. She continued with an important message. “We are not above or below any one person and represent that by demonstration. We focus on being accessible and positively influencing people in and around the supercross circuit. These actions are how we separate ourselves from others within the racing community. We have always put much emphasis on what we can do off the track and continue strengthening this effort into the future”.
Ronnie Stewart Racing Powered By Yuasa Battery is proud to have support from the following amazing companies.
Yuasa Battery Inc., ISC Racers Tape, FXR Racing, Decal Works, Hellbound Racing, Food for Life Baking Company, Liberty Elevator Corp., 50 Yardline Sports Bar, Engine Ice, Factory Connection, Dunlop, Bill’s Pipes, Sunstar Sprockets, Acerbis, Spectro Oil, Hinson Clutch Components, 6D Helmets, Worldwide Bearings, Asterisk Braces, Ocean County Powersports, MotoStuff, Motion Pro, Wossner, Boyesen, Works Connection, DT1 Filters, Thundercross Associates.
Yuasa Battery, Inc. has been manufacturing powersports batteries in the US since 1979. Yuasa Battery Inc. is the leading manufacturer and distributor of batteries for motorcycles, ATV’s (all-terrain vehicles), UTV’s (side-by-side), snowmobiles, personal watercraft, and scooters.
Last week I had the opportunity to attend the opening round of the 2020 Monster Energy Supercross Series in Anaheim, CA. My roles at the races are quite extensive.
Working for Engine Ice, I check in on the race teams we support and get on board with new teams, I speak with media members to make sure they are aware of our products and create content for our social media stream.
Working for the Legends and Heroes Tour, I work with the tour sponsors to provide the content they need to promote the relationship, create content before and after the event around the legend we honor at each event and shoot images to use in our social stream during the year.
Working for NJ Motocross, I create content around NJ and other local racers to share on the site and build the archives so that NJ Motocross becomes the one-stop-shop for all NJ related items.
Here is a link to some of the images I shot of the press conference on Friday as well as some action in the pits on Saturday.