We’re writing to update you on actions we’re taking with federal and state governments to offset the effects of SDLA closures, the positive effects of CVTA grassroots efforts, and other issues related to COVID-19’s effect on the CDL training industry.
1. Small Business Economic Injury Disaster Loan Information (EIDL):
Loan Amounts and Use
Substantial economic injury means the business is unable to meet its obligations and to pay its ordinary and necessary operating expenses. EIDLs provide the necessary working capital to help small businesses survive until normal operations resume after a disaster. The SBA can provide up to $2 million to help meet financial obligations and operating expenses that could have been met had the disaster not occurred. Your loan amount will be based on your actual economic injury and your company’s financial needs, regardless of whether the business suffered any property damage.
Eligibility and Terms
The interest rate on EIDLs will not exceed 4 percent per year. The term of these loans will not exceed 30 years. The repayment term will be determined by your ability to repay the loan. EIDL assistance is available only to small businesses when SBA determines they are unable to obtain credit elsewhere. A business may qualify for both an EIDL and a physical disaster loan. The maximum combined loan amount is $2 million.
How to Apply
You can apply online for an SBA disaster assistance loan. You must submit the completed loan application and a signed and dated IRS Form 4506-T giving permission for the IRS to provide SBA your tax return information. For additional information, please contact the SBA disaster assistance customer service center at 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail email@example.com.
2. Update on State DMV Closures:
Completed Closed: 14
Completely Open: 13
- CLP Testing Only: Unclear
- CDL Testing Only: 1 (Ohio)
Click here for an updated list of closures (as of March 19, 2020)
3. Good News from Texas and Around the Country:
We’re pleased to report that Texas has reopened DPS locations for CLP and CDL testing! Please send a HUGE thanks to the Texas Trucking Association for their support and hard efforts to make this happen. The grassroots email campaign is working! Please keep up the efforts. We’re hearing word of other states listening to members and taking steps to undo some of the damage caused by shuttering DMVs to CLP and CDL testing. As well, with the support of the FMCSA, other states have taken actions to support the critical need for trucks and new drivers to assist in the national crisis by reopening rest stops.
4. WIOA and SBA Funding:
In Congress, we are pushing for WIOA and SBA funding (detailed below) as part of ongoing relief packages. CVTA members with important Senators in Kentucky, Alabama, and Missouri have stepped up with letters proposing these options and we thank you for your fast actions. Click here for the WIOA and SBA proposal.