Kevin Shaw, a Memphis, Tennessee-based truck company owner, and financial adviser Lisa Evans were indicted on charges of defrauding the federal Paycheck Protection Program.
Bailey’s Trucking habría utilizado más de 143.000 dólares
para “fines no autorizados”
Bailey’s Trucking and its owner were charged with making false representations on an application to receive money through the Paycheck Protection Program.
The loan size shrinking across the board but the amount of money going to transportation and warehousing sector grew more than $1 billion last week.
Reports of problems in the application process are widespread, but the PPP loans given out total more than $160 billion.
Loans so far in PPP round two that go to the trucking and warehouse sector are about the same percentage of all loans as in the first round.
OOIDA testifies on vaccine and truck parking concerns before the House transportation committee.
First-round borrowers can get more money in the second round but need to show some financial downturn to do so
One type of trucking company may get some relief: those hauling timber
In today’s edition of The Daily Dash, Republic Services has canceled a 2,500-truck order with embattled hydrogen-electric truck maker Nikola Corp. Plus, Forward Air is on the road to recovery following a ransomware attack and Roehl is the latest carrier to announce a driver pay increase.
A quarterly year-over-year drop of 25% needs to be on the books for access to money.
Narrowing millions of data points to three main categories, it’s now much easier to find PPP recipients from the smallest to the biggest
Companies with 1 or 2 workers got money from the program; TL payout per job was about $9,200
Tens of thousands of data points on who got what are now available for perusing
SBA got a short stay but court considering a longer delay
Companies that got less than $150,000 would have their names publicly released; that had happened only for firms that borrowed in excess of that.
The president of Dan-Gulf Shipping said the stolen funds were not a major factor in shuttering the company.
The program ends soon for new applicants, but those who have received money will need to go through the process to enable them to avoid paying the funds back.
OOIDA warns suspending federal excise tax would hit Highway Trust Fund.
With the release of the identities of the biggest recipients of money under the Paycheck Protection Program, reviewing all the names of those who got money and figuring out how […]
In today’s edition of The Daily Dash, YRC Worldwide is set to spend $700 million, Navistar and Samsara announce a tie-up and a PPP loan wasn’t enough to save an Alabama carrier.
Federal loan during the COVID-19 pandemic couldn’t keep Alabama-based Foster Freights LLC afloat, as it filed for Chapter 7 bankruptcy protection.
Reviewing the voluminous data about recipients a day after its release
A sortable spreadsheet that cuts right to the key areas the trucking sector wants to know
30+ big trucking borrowers identified
More than 3,200 companies in the two main government classifications that comprise long-distance trucking received Paycheck Protection Program (PPP) loans in excess of $150,000, according to data released this morning […]
Funding for the extension will be the money that didn’t get sent out so far
Extension of paycheck protection needs House OK, Trump signature
With 1 million real-world electric miles, Motiv Power Systems sees growing customer reorders previewing a breakout for battery-powered medium-duty trucks.
Nikola Corp. founder and Executive Ehairman Trevor Milton says he is justified in threatening on Twitter to sue a reporter he accuses of lying about the startup electric truck maker to drive down its high-flying stock price.
Bill deals with the problem of slow business and low employee costs.
A small trucking firm in Maine is claiming the Small Business Administration is denying PPP loans to companies currently in bankruptcy, thereby putting jobs at risk.
Program was for eight weeks, starting in April, setting up an end to some protection
“Good faith” is inferred and won’t need to be certified further.
“Love & Hip Hop: Atlanta” star allegedly spent $1.5 million on things such as jewelry, child support
It got $10 million that Clyburn maintains is for smaller firms
Aperia has launched a virtual training and support program for its tire inflation system to help fleets continue proper tire maintenance. Plus, diesel prices drop, Werner president talks trucking, and Earth Day brings somber reminders.
One adviser said he is processing “thousands” of applications.
Group says more coordination needed to address insufficient supply of masks, hand sanitizer.
KeepTruckin has started a petition asking congress to extend forgivable loans to cover truck lease/purchase payments and insurance costs.
Truck drivers would be eligible for COVID-19 “pandemic premium pay” under the proposal.
More funds for loans could help protect small and midsize carriers from layoffs.
