search.noResults

search.searching

dataCollection.invalidEmail
note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
Other Programs While businesses wait to see if more federal


relief funding is coming, companies faced with the need for operating capital do have access to other resources and programs to help them remain in operation. One is the large number of state, city, and local grants available to companies and organizations to help them through the coronavirus crisis. Illinois, for example, announced $900 million in new community and business grants to mitigate the effects of both the COVID-19 pandemic and recent civil unrest, including business-interruption grants.


Another source of interim loans to tide companies over is the Federal Reserve Bank’s Main Street Lending Program (MSLP), which became fully operational in early July after weeks of delays. The MSLP will see the Fed purchase 95 percent of a loan issued from a bank to a small or mid-sized business. The goal of the program is to keep credit flowing to companies that were in good financial standing before the pandemic hit. The MSLP was created as part of the CARES Act but did not go into effect until July, in part because the Fed made several changes to the rules and qualifications for participation. Responding to calls


by the ABA and others to expand access to the program to small businesses, the Fed lowered the minimum size of certain loans to $250,000 from $500,000, increased the term to five years from four, and delayed principal payments for two years instead of one. “We appreciate the Federal Reserve’s willingness to make additional changes to the Main Street Lending Program,” ABA President and CEO Rob Nichols said in a statement. “By adjusting the loan terms, including lowering the minimum loan size, more creditworthy small and mid-sized businesses should be able to access this program and hopefully weather the economic challenges caused by COVID-19. We encourage the Fed to remain flexible as the needs of borrowers and lenders evolve.” With the future unknown, the more financial


resources available to equipment dealers, the better. “It’s going to be a slow, hopefully steady,


recovery, but we don’t know what the federal government will do to keep the economy going or how the election may affect these programs,” Brant says. “These are all unknowns that will determine how our country moves forward.”


RETRANS FREIGHT HAS MORE OF AN


IMPACT ON YOUR BUSINESS THAN ANY COMPETITIVE SOLUTION


The ReTrans Freight Difference


Committed Pricing without a contract to sign


Transparency through a consultative approach


Faster implementation


Eliminate hassles to improve productivity


Multi-department efficiencies


Solutions for FEDA Members


Control freight costs


Audit and freight bill administration Specialized services


Technology


Scalable, Efficient, Integrated


EDI and XML interface


eCommerce integrations


Vendor routing controls Customized reporting


Please contact Kevin Brink— kbrink@retransfreight.com or 1-800-426-8896 Ext. 390 to develop your customized program


20 FEDA News & Views


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68