Coronavirus Relief Package

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.

An evaluation of enacted and proposed federal grant and loan programs of importance to the franchise sector.

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.

Borrower fact sheet for the Payment Protection Program (PPP).

A list of suggested technical corrections and enhancements to the CARES Act from IFA, AAHOA, NRF, AHLA, NCCR and U.S. Travel Association.

A letter from Congressional Representatives to Administrator Carranza requesting clarification on Paycheck Protection Program intentions.

A letter from U.S. Travel Association, American Hotel & Lodging Association, International Franchise Association, and  Asian American Hotel Owners Association to Secretary Mnuchin and Administrator Carranza Requesting Clarifications of the CARES Act for the travel, lodging, and franchising industries.