Coronavirus Small Business Emergency Loans Available

The Tire Retread & Repair Information Bureau (TRIB) shared the following information with its members on March 31:

As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, Congress has approved $350 billion in emergency loans for small businesses and self-employed Americans in businesses with fewer than 500 employees.

Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses. Importantly, these loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward.

The U.S. Chamber of Commerce has created a publication outlining the eligibility requirements, maximum loan amounts, and information about loan forgiveness. You can view that document here and you can apply for loans through the Small Business Administration here.

Discount Tire & Service Centers has a new sponsorship deal with the Los Angeles Angels for the 2024 season. Discount Tire said this partnership will not only benefit its customers with season-long promotions and giveaways but will also support local non-profits.

"We're thrilled to launch this strategic partnership with the Los Angeles Angels," said Sergio Andonian, president, Discount Tire & Service Centers. "As neighbors, from Anaheim, we are dedicated to serving our local communities and providing quality tire & automotive service at the most competitive prices. Together, we look forward to making a positive and lasting impact in the communities. Add baseball to the mix, and with this winning combination, the possibilities are endless."