Coronavirus
BRASELTON, Ga. (BRAIN) — Fox Factory recorded a 1.8% decline in revenue in its Speciality Sports Group, which is comprised of sales of bicycle products sold under the Fox, Marzocchi, Race Face and Easton brands. The company attributed the decline to "a shift in timing of OEM orders."
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.
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.
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.
WASHINGTON (BRAIN) — The Small Business Administration and Department of the Treasury will make it easier for small businesses to obtain Paycheck Protection Program loans.
WASHINGTON (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.
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.
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.
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.
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.
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.
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.
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.
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