Working with a coalition of recreational business association called the Outdoor Recreation Roundtable, DEMA has advocated for the U.S. Federal CARES Act and specifically the U.S. Paycheck Protection Program (PPP) loan to be structured so that U.S.-based seasonal dive businesses can be eligible for the loan forgiveness.
On April 30, the U.S. Treasury Department issued its Interim Final Rule, which includes additional PPP criteria for U.S. seasonal businesses. Seasonal businesses, including U.S. dive businesses can now select any consecutive 12-week period from May 1, 2019 to September 15, 2019 to determine their maximum loan amount and loan forgiveness. The interim final rule can be found here. View DEMA’s webinar on applying for the Paycheck Protection Program here.