Coronavirus

Posted May 4, 2020

FRIEDRICHSHAFEN, Germany (BRAIN) — Eurobike, originally scheduled for Sept. 2-5, has been moved to the late November dates that organizers previously announced as a backup.

Posted May 4, 2020
In the first week, SBA lends $175 billion to small businesses.

WASHINGTON (BRAIN) — The Small Business Administration said Sunday it issued 2.2 million Paycheck Protection Program loans valued at $175 billion in the first week of the second round of federal funding during the COVID-19 pandemic.

Posted May 1, 2020
Ryan Zagata.

BROOKLYN, N.Y. (BRAIN) — Recent "Pandemic Check-ins" have featured executives with large IBD suppliers in Wisconsin, California, and Minnesota. Today we check in with a smaller supplier based in the pandemic's epicenter and who is experiencing a major sales boom — with sales up 600% so far this year.

Posted April 29, 2020
Large companies receiving small business loans leads to more oversight.

WASHINGTON (BRAIN) — The Small Business Administration and Department of the Treasury will make it easier for small businesses to obtain Paycheck Protection Program loans.

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.

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