Coronavirus

Posted April 24, 2020
Retailers can begin applying again for small business loans Monday morning.

WASHINGTON, D.C. (BRAIN) — The Small Business Administration officially received an additional $310 billion in funds to restart its two loan programs that ran out of money last week.

Posted April 23, 2020
President's signature now needed to restart SBA loan programs.

WASHINGTON (BRAIN) — The House of Representatives on Thursday night signed off on the COVID-19 relief package that allocates $310 billion to the depleted Paycheck Protection Program to aid small businesses.

The measure passed 388-5.

Posted April 23, 2020

MORGAN HILL, Calif. (BRAIN) — Specialized has laid off 7% of its workforce as the company reassess its economic position in the wake of COVID-19's impact on the world cycling market.

Posted April 22, 2020

ASHEVILLE, N.C. (BRAIN) — Cane Creek Cycling Components has resumed limited operations at their North Carolina headquarters after being designated as an essential business by the state.

Posted April 21, 2020
House and presidential agreement now needed.

WASHINGTON, D.C. (BRAIN) — The Senate on Tuesday afternoon agreed to a COVID-19 relief package that will allocate $310 billion to the depleted Paycheck Protection Program to help small businesses.

Posted April 17, 2020

WASHINGTON (BRAIN) — The Small Business Administration and U.S. Treasury Department said Friday afternoon the initial success of the Paycheck Protection Program makes it imperative that funding is approved for it to continue.

Posted April 16, 2020

WASHINGTON (BRAIN) — The Small Business Administration announced Thursday it has no more money to assist small businesses affected by the COVID-19 pandemic and can't accept any more Paycheck Protection Program or Economic Injury Disaster Loan applications.

Posted April 16, 2020

More and more bike brands are manufacturing PPE or making other donations to aid in the battle against COVID-19. Here are some of the reports we've received this week.

Posted April 15, 2020
Updated: Treasury secretary, SBA administrator make plea to Congress for more funds.

WASHINGTON (BRAIN) — With the Small Business Administration nearing the limit of Paycheck Protection Program loans it can issue, U.S. Treasury Secretary Steven T. Mnuchin and SBA Administrator Jovita Carranza jointly issued a statement Wednesday night calling for Congress to approve additional funding.

Posted April 14, 2020
The Paycheck Protection Program originally authorized $349 billion in forgivable loans.

WASHINGTON (BRAIN) — The Small Business Administration said Tuesday that as of noon Eastern time it had approved $253 billion in forgivable loans during the program's first 12 days.

Posted April 14, 2020
Thompson during a recent 60th birthday ride with colleagues.

NEWBURY PARK, Calif. (BRAIN) — BRAIN checked in with Giant Group's U.S. general manager, John "JT" Thompson, this week to get his view of how the U.S. industry is handling the COVID-19 pandemic. 

Posted April 13, 2020
Ellen Kast.

Talking to your landlord is one of the last things you want to do right now. Rent is likely your largest monthly expense and since you have a lease, it’s not going away.

Posted April 13, 2020

WATERLOO, Wis. (BRAIN) — Sound financial advice is at a premium these days for bicycle retailers trying to survive the COVID-19 pandemic, and Andrew St. Clair has some to give.

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