NASCAR Teams Capitalize On PPP Loans

▤ Summary

The Paycheck Protection Program (PPP) saved several NASCAR teams from firing employees or even shutting their doors, according to data revealed this week. The PPP was created as part of the $2.2 trillion CARES Act, signed into law by President Donald Trump at the end of March. The sanctioning body approved a plan to be one of the first U.S. sports back in action as stay-at-home orders ended in North Carolina and its surrounding states. A day prior to NASCAR’s return, Xfinity Series competitor David Starr lost his ride with JD Motorsports, as reported by Frontstretch.com. Prior to the pandemic, several teams were struggling as TV ratings declined and multiple longtime sponsors left the sport.

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