During the Automotive Service Association (ASA) Media Briefing today, Ray Fisher, President and Executive Director of ASA, and Bob Redding, ASA’s Washington, D.C. representative, were joined by U.S. Representative Buddy Carter (R-Ga.) to discuss what mechanical and collision repair shops can do during the COVID-19 pandemic to help alleviate financial stress.

Congressman Carter repeatedly urged small businesses to apply for an Economic Injury Disaster Loan (EIDL) via the U.S. Small Business Administration (SBA) as soon as possible. In response to the COVID-19 pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid. You can learn more about and apply for the loan from the SBA website here.

The panel also discussed the Paycheck Protection Program, which was enacted under the CARES Act to help small businesses cover their near-term operating expenses during the COVID-19 pandemic and provide a strong incentive for employers to retain their employees. Fisher and Redding urged shops to reach out to their local lender or banker to learn more about the program.

If shops encounter issues with either of these two programs over the coming weeks, Fisher encourages members to contact ASA for help and guidance. He commented, “We want to help however we can. That’s what the association is for. If you’re having issues, please reach out.”

Fisher noted that many shops across the country have never relied on federal programs for their businesses and that now is not the time to turn them down. He shared, “We’re a proud group of people. So much has been thrown at us these past 40 years in terms of vehicle technology and safety requirements. But this situation is beyond everyone’s control. Be humble and take advantage of the federal programs and utilize all resources available to you. This will pass in time, but we have to act now and as a community.”