CCJ Daily Dispatch, July 7: Paycheck Protection Program resumes application process

user-gravatar Headshot
Updated Jul 8, 2020

Trucking news and briefs for Tuesday, July 7, 2020: 

PPP forgivable loan program application deadline extended
Over the July 4 weekend, the President signed into law a bill opposed by just a single representative among both chambers of Congress. The near-unanimity was in favor of extending the application period for the potentially forgivable aid loans provided for by the Paycheck Protection Program, administered by the Small Business Administration in collaboration with participating banks, and put in place with the intent of assisting business keep payroll in place through the quick downturn spawned by the response to COVID-19‘s spread.

The application period previously ended June 30, but with appropriated billions left unspent, Congress elected to reopen it through Aug. 8 with the legislation, titled the “Paycheck Protection Program Extension Act.”

The Small Business Administration followed through by reopening the program to borrowers in need of funding Monday, posting this notice on its website: “The Paycheck Protection Program resumed accepting applications July 6, 2020, at 9:00 AM EDT.”

Vnomics’ True Fuel app will be part of the Platform Science telematics system.Vnomics’ True Fuel app will be part of the Platform Science telematics system.

Platform Science integrates Vnomics’ True Fuel app into telematics system
Fuel saving driver coaching service Vnomics has announced a partnership with Platform Science that will integrate Vnomics’ True Fuel app into the Platform Science telematics system.

The True Fuel app will be available to fleets using the Platform Science telematics system without requiring the purchase or installation of additional in-cab hardware.

True Fuel is designed to improve fuel efficiency by taking into account truck configuration, load, terrain and environmental factors, and coaching drivers in real time to achieve the best possible fuel economy.

The analytics from the app also serve as the basis for rewards programs based on fuel efficiency rather than MPG alone and assist fleets in choosing the most efficient equipment for route optimization by providing predictable fuel costs.