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.
The Progressive International Motorcycle Show returns to NYC and the Javits Center this December 6-8. Check out their most recent press release announcing all of the details of the show.
In its 39th year, the world’s largest consumer motorcycle show tour to be more experiential and interactive than ever
SANTA MONICA, Calif., November 5, 2019 – The Progressive® International Motorcycle Shows® (IMS), the industry leader for connecting powersports’ top brands with enthusiasts and buyers, today announced a stellar lineup of features that will be present across the 2019/2020 IMS tour kicking off this month. Across the eight stops, each show will feature various attractions enabling attendees of all ages and skillsets to interact with the industry, including demo rides and the New Rider Course, as well as DIY workshops in Vintage, the J&P Cycles Ultimate Builder Custom Bike Show, fresh new lifestyle brands debuting in SHIFT, and exciting new gear and parts in the Marketplace, among much more.
“Beyond showcasing the industry’s highly anticipated new bikes and gear, a main focus of our upcoming tour is the evolution of our popular interactive and experiential show attractions,” said Tracy Harris, Senior Vice President, IMS. “Following the great success we saw from the debut of our Discover the Ride initiative last tour, which had nearly 7K participants in its first year, we’re looking forward to bringing new experiential features to each of our shows, making for a more immersive and dynamic experience.”
Geared toward introducing non-riders and children to two-wheels, as well as reinforcing the importance of continued training and education to new and experienced riders, Discover the Ride will be back for its second year bringing a variety of attractions to each show. In addition to the attractions listed below, the recently announced extension of Discover the Ride, Next Steps, will provide New Rider Course participants a chance to enter and win a Next Steps course in their market for free.
New Rider Course in Partnership with Zero Motorcycles – The New Rider Course gives non-licensed IMS attendees the opportunity to ride a motorcycle for the first time on an indoor demo course while learning riding basics from expert Total Control Training instructors. A fleet of speed limited electric Zero Motorcycles will give participants the experience of riding a motorcycle in a safe and controlled environment after participants have shown the ability to balance on Yamaha electric power-assist bicycles. For extra safety measures, gear will be provided by Cycle Gear.
Kids Zone – The Kids Zone, in partnership with Stacyc, will feature a closed course of battery-assisted balance bikes for children to experience riding for the first time. Participants will have the option to ride the balance bikes with or without the addition of a speed limited electric motor. Stop by The Kids Zone to watch the next generation of riders experience the thrill of two wheels.
NewTo2 – NewTo2, a program that serves to educate new riders on the world of motorcycling, will feature influential industry rider hosts in each market who will answer questions, share tips, and serve as resources for new riders on how they can get more involved in motorcycling after leaving IMS. NewTo2 also provides an online catalog of educational videos geared specifically toward non-riders. Visit www.newto2.com to check out the videos.
Dyno Experience – This feature gives IMS attendees the opportunity to get on a real motorcycle that is securely mounted to a dyno to experience starting a motorcycle, engaging the clutch and shifting through the gears, while feeling the torque of the motorcycle with the guidance of an expert. Throughout the tour, intro and new rider motorcycles will be available from Harley-Davidson, Honda, Suzuki, and Yamaha for participants to become familiar with.
XDL Wheelie Experience – This wildly popular feature is for riders who want to test their wheelie skills in a controlled environment while improving their balance and throttle skills with the help of XDL stunt pros. It also provides riders the opportunity to experience the exhilarating torque of Zero Motorcycles that have not been governed to reduce power for the New Rider Course.
Expanding their presence beyond the XDL Wheelie Experience, XDL is bringing their XDL Street Jam Live Action Stunt Show to the tour’s Dallas, Denver, Washington DC, and Minneapolis stops, where America’s top Street Bike Freestyle athletes will display their freestyle talents in the form of Wheelies, Stoppies, and high-speed action right in the middle of the show floor. XDL Street Jam will have attendees cheering in disbelief as XDL’s athletes push what is possible on one and two wheels in this family-friendly 20-minute feature.
An IMS staple, Vintage will be returning to each market enabling attendees to get up close and personal with the very best classic and retro-style motorcycles from vintage bike clubs across the country, such as the rare 1929 BMW 736cc R63 and 1982 Ducati 600SL Pantah, that will be featured in Long Beach. New to this year’s tour, Vintage will be hosting DIY workshops teaching attendees the tips and tricks of maintaining and renovating a bike with topics covering winterization, how to adjust and lubricate chains, break flushing, oil changes, and more.
Backcountry Discovery Routes (BDR) is hosting the Adventure Out! space in which members of the BDR organization and volunteers will mingle with visitors, answer questions and give presentations on two-wheel exploration, adventure motorcycling for new riders, and an exclusive preview of the soon to be released North East Backcountry Route (NEBDR). Beyond receiving firsthand information about the highly-anticipated 1,400-mile, backcountry tour of the Northeast Region up to the Canadian border, attendees can hop a leg over an adventure bike, put on a pair of VR goggles, and fully immerse themselves in the BDR Virtual Reality experience encompassing fresh 360° point of view footage from the NEBDR filming expedition.
In addition to featuring leading brands in the adventure and touring segments, popular adventure riders – including world-renowned ADV instructor, world traveler, and all-around motorcycle guru Bret Tkacs (*attending Long Beach, New York, Cleveland, Minneapolis, and Chicago) and Paul Pelland (*attending Dallas, Washington D.C., and Denver), also known as Longhaulpaul, a motivational speaker who has devoted his life to raising awareness and funds for Multiple Sclerosis and the holder of three world records for riding – will serve as guest speakers sharing stories about their experiences on two wheels.
Media partner Rider Magazine will also be in Adventure Out! providing attendees complimentary copies of Rider’s most recent publication as a source for touring, travel, and adventure on 2-wheels, in addition to showing attendees great places to ride from the pages of their Favorite Rides and Destinations issues.
Celebrating its tenth consecutive year, the J&P Cycles Ultimate Builder Custom Bike Show (UBCBS), the largest and one of the most sought-after touring custom bike competitions in the nation, will hit every market featuring beautiful, one-of-a-kind custom bikes from local builders. This year’s categories include Custom Street Class, Custom Classic, People’s Choice, Best Chopper, Best Cafe/Trakker, Best Bobber, and Best Bagger. Judged by a panel of industry experts, winners in every city along the IMS tour will be invited to compete in the championship round in Chicago for a chance to be crowned “King of the Builders.”
Presented by Cycle Gear, the Marketplace will provide a one-stop shop for all of the latest motorcycle parts, accessories and equipment from many of the leading brands in the industry including Arai, Arlen Ness, Bridgestone, Cycle Gear, Heidenau, HJC, K&N, Liqui Moly, Michelin Tires, National Cycle, Shark, Shoei Safety Helmet Corporation, and Yuasa.
SHIFT, a motorcycle-lifestyle inspired space to explore, shop, and socialize, will host a diverse selection of brands that are both new and known to the industry, many of which play across multiple channels and all of which offer a fresh perspective about life on two wheels and beyond. New to the space will be Revzilla, showcasing and selling premium brands.
To learn more about the Progressive® International Motorcycle Shows® Tour, please visit: motorcycleshows.com.
IRVINE, Calif., Nov. 4, 2019 – Erik Pritchard has assumed the role of chief executive officer and president of the Motorcycle Industry Council (MIC), Specialty Vehicle Institute of America (SVIA), Motorcycle Safety Foundation (MSF), and Recreational Off-Highway Vehicle Association of America (ROHVA), as part of the leadership succession plan announced by the respective boards in July 2019.
Pritchard joined the associations as general counsel in March 2014 following more than a decade supporting the associations as outside counsel on a variety of litigation and non-litigation matters. He was named the president of SVIA and ROHVA in 2017.
“The powersports industry is facing tremendous opportunities and also tough challenges as we move into the next decade. Erik has proven through his leadership the past five years, and long history with the associations, that he will be the dynamic leader we need to accomplish the many initiatives we will be undertaking to support our members,” said Paul Vitrano, MIC board chair, and senior assistant general counsel of Indian Motorcycle and Polaris, Inc., commenting on behalf of all the association boards. “Erik is known for being tenacious and has achieved a number of wins that have benefited our members and on- and off-road enthusiasts, and we look forward to more accomplishments in the future.”
“The next five to 10 years will be crucial for the long-term health and success of the powersports industry,” Pritchard said. “Our staff in California and Washington, D.C., are highly experienced and committed, and combined with the best industry minds in the world among our respective board members, we have a blue-ribbon team. I’m looking forward to strengthening our current operations and executing new initiatives to help our industry.”
One such initiative is the long-term, industry-wide effort led by the MIC to boost motorcycle ridership – more riders, riding more. The strategic framework for this plan was presented to a packed ballroom by Vitrano, Pritchard, and Chuck Boderman, MIC vice chair, and vice president, motorcycle division, American Honda Motor Co., Inc., during the opening session at the AIMExpo presented by Nationwide in September. Further information will be presented at the annual MIC Communications Symposium in Long Beach, Calif., on November 21.
The Motorcycle Industry CouncilThe Motorcycle Industry Council exists to preserve, protect, and promote motorcycling through government relations, communications, and media relations, statistics and research, aftermarket programs, development of data communications standards, and activities surrounding technical and regulatory issues. As a not-for-profit national industry association, the MIC seeks to support motorcyclists by representing manufacturers, distributors, dealers, and retailers of motorcycles, scooters, ATVs, ROVs, motorcycle/ATV/ROV parts, accessories and related goods and services, and members of allied trades such as insurance, finance and investment companies, media companies and consultants.
The MIC is headquartered in Irvine, Calif., with a government relations office in metropolitan Washington, D.C. First called the MIC in 1970, the organization has been in operation since 1914. Visit the MIC at mic.org.
The Motorcycle Safety Foundation The Motorcycle Safety Foundation promotes safety through rider training and education, operator licensing tests and public information programs. The MSF works with the federal government, state agencies, the military and others to offer training for all skill levels so riders can enjoy a lifetime of safe, responsible motorcycling. Standards established by the MSF have been recognized worldwide since 1973.
The MSF is a not-for-profit organization sponsored by American Honda Motor Co., Inc.; BMW Motorrad USA; BRP, Inc.; Harley-Davidson Motor Co., Inc.; Indian Motorcycle; Kawasaki Motors Corp., U.S.A.; KTM North America, Inc.; Piaggio Group Americas, Inc.; Suzuki Motor of America, Inc.; Triumph Motorcycles America; and Yamaha Motor Corporation, U.S.A. For safety information or to enroll in an MSF Basic RiderCourse nearest you, visit msf-usa.org or call (800) 446-9227.
The Specialty Vehicle Institute of America The Specialty Vehicle Institute of America is the not-for-profit national industry association promoting the safe and responsible use of all-terrain vehicles (ATVs) through rider training, public awareness campaigns, and state legislation. Additionally, SVIA works to preserve access to off-road riding areas and expand riding opportunities. Accredited by the American National Standards Institute (ANSI), SVIA develops standards for the equipment, configuration, and performance requirements of ATVs. Based in Irvine, Calif., SVIA is sponsored by American Honda Motor Co., Inc.; BRP, Inc.; CFMOTO Powersports, Inc.; Kawasaki Motors Corp., U.S.A.; KYMCO USA, Inc.; Polaris Inc.; Suzuki Motor of America, Inc.; Textron Specialized Vehicles; and Yamaha Motor Corporation, U.S.A.. Visit SVIA online at svia.org. For safety information or to enroll in the ATV RiderCourse nearest you, visit atvsafety.org, or call (800) 887-2887.
The Recreational Off-Highway Vehicle AssociationThe Recreational Off-Highway Vehicle Association is the not-for-profit national industry association promoting the safe and responsible use of ROVs (also called side-by-sides or UTVs). Accredited by the American National Standards Institute (ANSI), ROHVA develops standards for the equipment, configuration, and performance requirements of ROVs.
Based in Irvine, Calif., ROHVA is sponsored by American Honda Motor Co., Inc.; BRP, Inc.; Kawasaki Motors Corp., U.S.A.; Mahindra Vehicle Sales and Services, Inc.; Polaris Inc.; Textron Specialized Vehicles; and Yamaha Motor Corporation, U.S.A.. For more information visit rohva.org.
One of the most important items that came out of last month’s AIMExpo was the new MIC Initiative of More Riders, Riding More.
The motorcycle industry is in a crisis. The group of riders that have sustained the business for so long are beginning to age out of motorcycling and there does not seem to be the influx of new riders to take their place.
There are many factors at play that are causing this but the end result is undeniable. As a group, the industry needs to put differences aside and tackle the issue.
The seminar held on Thursday night of the AIMExpo addressed some of the causes and have begun to outline a solution. Stay tuned for more signs of progress in the near future regarding this important initiative.
The complete report from the MIC is below.
The Motorcycle Industry Council presented the strategic framework for the long-term, industry-wide effort designed to boost ridership, get more riders, riding more, last week at the opening session for AIMExpo presented by Nationwide.
Opening day for the nation’s biggest motorcycle show saw a packed ballroom at the Greater Columbus Convention Center, filled with hundreds of dealers, manufacturers, aftermarket companies, service providers, rider training professionals, and many others across the industry. Speakers revealed new findings about the “culture code” of motorcycling; how Americans relate to motorcycles, which is critical in understanding how to reach potential new riders. And speakers provided details about new research into the four steps on the journey to becoming a motorcyclist.
“This industry-led program will enable all stakeholders to benefit,” said Paul Vitrano, MIC board chair, and senior assistant general counsel of Indian Motorcycle and Polaris Inc. “The MIC is developing this to bring the might of the entire industry together, in order to power our collective future.”
MIC leadership urged everyone throughout the industry to unify, support the initiative, engage with it, and send questions, comments, and suggestions to firstname.lastname@example.org. An action plan and an initial set of tactical elements will be presented at the annual MIC Communications Symposium in Long Beach, Calif., on Nov. 21.
The presentation was led by Vitrano, MIC Vice Chair Chuck Boderman of American Honda Motor Co., Inc., incoming MIC President and CEO Erik Pritchard, and long-time motorcyclist and media personality Ariana Escalante.
“We conducted exhaustive research into the key drivers that underlie our industry,” Vitrano said. “We knew we had to dig deeper and go further than anyone had previously gone into the real issues that motivate people to ride – and even more important, what keeps them from riding.”
After months of intense, collaborative work with consulting firm Centauric, it was clear that “potential consumers not only exist, they might actually be out there waiting for us to find them,” Vitrano said.
To reach these potential riders, the MIC worked with Centauric to understand the culture code of motorcycling in America, and to identify the four steps on the journey to becoming a rider.
Information gathered in focus groups, lab experiences, and other research “allowed us to discern our most critical understanding,” Boderman said, “the distillation of the culture code of motorcycling in America, which can be summed up in two words: personal sovereignty.”
The culture code is “comprised of independence, power, mastery of both self and domain, and being at least a little bit bad-ass about it,” he said. “Personal sovereignty is the essential key to understanding how to powerfully connect with potential riders. It is how most Americans subconsciously relate to motorcycles.”
“We need more riders, riding more,” Pritchard said. “Potential riders are on a journey, and it’s our job – all of us – to provide a roadmap and help them along the way to make sure they reach the destination.”
Four key steps were identified on the journey to becoming a rider:
Inspire – Get more people to take notice of motorcycling
Explore – Help more people learn about motorcycling in a way that aligns with their lifestyle and personal interests
Engage – Knock down barriers and welcome new folks
Integrate – Make motorcycling accessible, affordable, and enriching
“We are working to refine these elements into an action plan,” Pritchard said. “Our industry is at an essential turning point, where we must unify as one body, speaking the culture code of motorcycling, and pulling in the same direction to create new riders.”
Education is the key to success and this news from Tucker and Brandection is a critical step in the success at the dealership level.
As a former dealership employee getting the right education directly from the manufacturers was difficult at best and even today it is a challenge. In between the day-to-day operations of a dealership and the demands of life outside the shop, the education of the parts and service employee often goes by the wayside. Now as a manufacturer I look at shows and events to educate these front line ambassadors. The addition of Tucker University on the already established Brandecation platform is an important step forward. Great job by both Tucker and Brandecation.
Read the complete press release below.
TUCKER LAUNCHES ONLINE DEALER TRAINING PLATFORM
Tucker Powersports has invested in education to continue bringing value to their 8,500+ dealers through a strategic partnership with Brandecation.
“Our dealers tell us education is critical,” stated Jim Barker, Vice President of Marketing for Tucker. “They say consumers are more educated than ever when they walk in, so it’s our responsibility to help educate the dealer staff. We’re proud to launch TuckerU to help do just that.”
For brand partners choosing to join Tucker University, it means direct access to theTucker 150+ person sales team and over 8,500 dealers. Users of the TuckerU platform learn, test, and retain specialized product information at their own pace. TuckerU provides direct access to training courses and certifications in one convenient location 24 hours a day, 7 days a week, 365 days a year.
“We’re excited with this new partnership,” stated Rich Maychrich, CEO of Brandecation. “It’s amazing to see the number of brands coming to us knowing they can get plugged into TuckerU. They value the attention of 150+ salespeople and 8,500+ dealers. So, this strategic partnership is a win-win for everyone.”
TuckerU includes valuable brand and product knowledge on powerful brands distributed to powersports dealers across the nation. TuckerU also includes custom training modules on retailing, merchandising, marketing, and other areas. Each of the training courses come with testing and a certification process.
“Our goal with this platform is to help our dealers and field sales team have a centralized place to go for education. This is an area of focus in bringing value to our customers,” says Barker.
Brands interested in becoming a Tucker University Brand Training Partner can call 833-326-1202, or send an email to Joe@brandecation.com.
About Tucker – Delivering some of the most powerful brands in powersports, Tucker is a leading supplier to powersports retailers across the nation. Tucker offers tens of thousands of products from the powerhouse brands that today’s powersports dealers and enthusiasts ask for by name. With over 52 years of experience, knowledgeable staff of trained professionals, and focus on superior customer support, Tucker aims to deliver the excitement of powersports to dealers and enthusiasts alike.
About Brandecation – Founded in 2014, Brandecation’s mission is to provide a web-based training solution for professionals and enthusiasts, where they can engage in an immersive and educational manner. Free from the limits of a classroom, the Brandecation solution allows businesses to provide education to the desired users regardless of geographical location. The Brandecation approach consists of providing targeted information through a proprietary platform with excellent accessibility. The platforms intuitive design eliminates the learning curve leading to greater user involvement and retention. The Brandecation analytic package provides detailed information on various performance metrics providing comprehensive data and return on your objective.