Coronavirus Relief Package

Where We Stand: Updates on Coronavirus Relief Legislation

As we enter the final few months of 2020, a year marked with economic challenges and uncertainty due to the COVID-19 pandemic, several important deadlines are approaching as the calendar flips from 2020 to 2021.

An abundance of news continues to roll out from Washington regarding the battle to determine the best steps going forward. It is important for business owners to be nimble, ensuring they understand which programs are currently on the books, which deadlines have passed, and what legislation may come.

FAQs: Franchising and PPP Loans

Q: How Does Franchising Work?

A: Franchising is an arrangement where a name brand company grants a local entrepreneur the right to use its business name, trademarks, and processes to produce and market a good or service. The business owner usually pays a one-time fee and a percentage of sales revenue as royalty. Typically, the brand provides national advertising and support, while the independent owner is responsible for day-to-day operations of the business, including hiring and scheduling employees.

International Franchise Association Statement on Additional Paycheck Protection Program Funding

After news that 89% of franchise owners have not yet received PPP funding, the International Franchise Association (IFA) today called on Congress to approve an additional $321 billion in Paycheck Protection Program (PPP) loans.