April 8, 2020 | International, Aerospace, Naval, Land, C4ISR, Security
Sean Broderick
WASHINGTON—The Trump Administration has asked Congress for an additional $250 billion in small-business payroll loan funding, providing more cash to the coronavirus pandemic emergency funding program that many small aerospace suppliers are expected to tap.
U.S. Treasury Secretary Steve Mnuchin tweeted the news April 7, confirming that, “at the direction of President Trump,” he has asked Democrat and Republican leaders in both the House of Representatives and Senate for more Paycheck Protection Program (PPP) funding “to make sure small businesses get the money they need!”
The PPP, part of the March 27 Coronavirus Aid, Relief, and Economic Security (CARES) Act, was set up to quickly get funds to eligible businesses to cover eight weeks of payroll costs as well as most rent, utility and mortgage-interest expenses. Companies can apply for a one-time PPP loan of up to 2.5 times their average monthly 2019 payroll, up to a maximum $10 million. So long as 75% of the funds are used for payroll costs, the loans do not have to be repaid, making them de facto grants.
The CARES Act allocates $349 billion to the program, but early popularly suggests that more funding may be needed to meet demand. The Small Business Administration (SBA) processed more than $70 billion in loans in PPP's first three days after the program opened April 3, though it did not say how much of that has been funded. Some 250,000 small businesses, out of an estimated 30 million, have applied for PPP funds.
Mnuchin said he has spoken with Congressional leaders and is confident that he has bipartisan buy-in.
“We look forward to the Senate passing that on [April 9], and the House passing that on [April 10]” Mnuchin told reporters during an April 7 media briefing.
Additional funding could be approved quickly. Senate Majority Leader Mitch McConnell (R-Kentucky) said in a statement that he would work with Mnuchin and fellow Senate leaders to approve further funding within days. House Democrats are already working on a larger bill, which leader Nancy Pelosi calls CARES 2, that includes more PPP funding.
PPP loan applications, submitted through the SBA Small Business Administration (SBA) and funded by participating lenders, began rushing in as soon as the program opened April 3. SBA Mnuchin said April 7 that more than 3,000 lenders are onboard, with additional institutions expected to participate. The program experienced some early hiccups, due in part to its scale and how quickly it has come together. CARES became law on March 27, and interim rules on how PPP would work were issued late April 2, just hours before applications were set to start.
The PPP's broad applicability, lack of requirements for guarantees or other collateral, and de facto grant properties—the loans become forgivable if guidance is followed—have made it a catch-all for many small businesses. The general SBA limit for a small business is 500 employees, but it is based on staff or revenue limits set in the North American Industry Classification System. Many aviation businesses, aircraft and engine parts makers and maintenance providers, have limits above 500 employees. The PPP's potential reach and theoretically streamlined application and fulfillment times mean industry trade associations that represent smaller businesses are urging their members to examine PPP loans.
July 29, 2024 | International, Naval
Intermarine's share of the committed tranche is 1.165 billion euros, corresponding to approximately 73% and the one of Leonardo is approximately 0.43 billion euros, which corresponds to approximately 27%.
December 5, 2019 | International, Aerospace, Naval, Land, C4ISR, Security
ARMY Sevenson Environmental Services Inc.,* Niagara Falls, New York, was awarded a $230,000,000 firm-fixed-price contract for environmental remediation. Bids were solicited via the internet with 25 received. Work locations and funding will be determined with each order, with an estimated completion date of Dec. 3, 2024. U.S. Army Corps of Engineers, Baltimore, Maryland, is the contracting activity (W912DR-20-D-0008). CORRECTION: The contract announced on Nov. 25, 2019, for Navistar Defense LLC, Lisle, Illinois (W56HZV-20-D-0016), for two commercial Medium Tactical Vehicle Variants and spare parts contained an incorrect award amount. The correct amount is $24,529,450. NAVY L3 Technologies Inc., Insight Technology Division, Londonderry, New Hampshire, is awarded a $37,500,000 firm-fixed-price, indefinite-delivery/indefinite-quantity contract with a five-year ordering period for precision aiming lasers (PAL). This is a first-time buy for PAL. The PAL combines a range finder with a ballistics and environmental sensor/processor to provide the operator with a ballistic solution for increased likelihood of first-round hit. This procurement is in support of U.S. Special Operations Command, Visual Augmentation Systems Weapons Accessories Program. Work will be performed in Londonderry, New Hampshire, and is expected to be completed by November 2024. Fiscal 2019 other procurement (Navy) funding in the amount of $902,451 will be obligated at time of award and will not expire at the end of the current fiscal year. This contract was competitively procured via the Federal Business Opportunities website, with two offers received. The Naval Surface Warfare Center, Crane Division, Crane, Indiana, is the contracting activity (N00164-20-D-JQ56). SciTech Services Inc.,* Havre de Grace, Maryland, is awarded a $33,952,020 cost-plus-fixed-fee, indefinite-delivery/indefinite-quantity contract. This contract will provide engineering and project management support to Navy science and technology management organizations and small business innovation research/small business technology transfer program offices. Work will be performed in Patuxent River, Maryland (70%); Washington, District of Columbia (15%); Arlington, Virginia (10%); San Diego, California (2.5%); and Mechanicsburg, Pennsylvania (2.5%), and is expected to be completed in December 2024. No funds will be obligated at the time of award. Funds will be obligated on individual orders as they are issued. This contract was a small business set-aside competitively procured via an electronic request for proposal; five offers were received. The Naval Air Warfare Center Aircraft Division, Patuxent River, Maryland, is the contracting activity (N00421-20-D-0006). Raytheon Missile Systems, Tucson, Arizona, is awarded a cost-plus-fixed-fee $28,881,512 contract modification to a previously awarded contract N00024-18-C-5407 to exercise a one-year option exercise for fiscal 2020 Standard Missile-2 and Standard Missile-6 repairs and maintenance and support material. This contract combines purchases for the Navy (90%); and the government of the Kingdom of Spain (10%) under the Foreign Military Sales (FMS) program. This contract will provide for engineering and technical support, depot and intermediate level repair, maintenance and recertification of standard missiles, sections, assemblies, subassemblies, components for fiscal 2020. Work will be performed in Camden, Arkansas (68%); Tucson, Arizona (18%); Anaheim, California (11%); and San Diego, California (3%), and is expected to be complete by December 2020. Fiscal 2020 operations and maintenance (Navy) funding for $3,111,499 (90%); and FMS Spain funding for $360,000 (10%) will be obligated at time of award. Contract funds for $3,111,499 will expire at the end of the current fiscal year. The Naval Sea Systems Command, Washington, District of Columbia, is the contracting activity. *Small Business https://www.defense.gov/Newsroom/Contracts/Contract/Article/2032038/source/GovDelivery/
January 23, 2019 | International, Land
In early April, nine qualified teams will attempt to remotely navigate the dark and dirty corridors of Edgar Experimental Mine in Idaho Springs, Colorado, in preparation for the Circuits Stage of the DARPA Subterranean (SubT) Challenge later this year. The SubT Integration Exercise, known as STIX, offers teams an opportunity to try out their technologies, including robotics, sensors, and communications solutions, in a representative environment. The locations for the Circuits Stage events have not been announced. The Subterranean Challenge seeks to revolutionize how first responders and warfighters operate in human-made tunnel systems, urban underground settings, and natural cave networks that are too dangerous, dark, deep, and unknown to risk human lives. Teams are competing to develop breakthrough technologies that rapidly and remotely map, navigate, and search subterranean environments. To qualify for STIX, teams were required to demonstrate baseline performance capabilities and appropriate safety measures. The participating teams and members are as follows: CERBERUS: CollaborativE walking & flying RoBots for autonomous ExploRation in Underground Settings University of Nevada, Reno ETH Zurich, Switzerland Sierra Nevada Corporation University of California, Berkeley Flyability, Switzerland CoSTAR: Collaborative SubTerranean Autonomous Resilient Robots Jet Propulsion Laboratory California Institute of Technology Massachusetts Institute of Technology KAIST, South Korea CRAS: Center for Robotics and Autonomous Systems Czech Technological University, Czech Republic Université Laval, Canada CRETISE: Collaborative Robot Exploration and Teaming In Subterranean Environments Endeavor Robotics Neya Systems CSIRO Data61 Commonwealth Scientific and Industrial Research Organisation, Australia Emesent, Australia Georgia Institute of Technology Explorer Carnegie Mellon University Oregon State University MARBLE: Multi-agent Autonomy with Radar-Based Localization for Exploration University of Colorado, Boulder University of Colorado, Denver Scientific Systems Company, Inc. PLUTO: Pennsylvania Laboratory for Underground Tunnel Operations University of Pennsylvania Exyn Technologies Ghost Robotics Robotika.cz Robotika.cz, Czech Republic Czech University of Life Science, Czech Republic The SubT Challenge comprises two competitions – the Systems Competition, where teams will develop novel hardware solutions to compete in physical underground environments, and the Virtual Competition, where teams will develop software-based solutions to test in simulated scenarios. Teams will compete in three preliminary Circuit events and a Final event pursuing high-risk and high-reward approaches. The Final event, planned for 2021, will put teams to the test with courses that incorporate diverse challenges from all three environments. Teams in the Systems track will compete for up to $2 million in the Systems Final event, with up to $200,000 in additional prizes available for self-funded teams in each of the Systems Circuit events. Teams in the Virtual track will compete for up to $1.5 million in the Virtual Final event, with additional prizes of up to $500,000 for self-funded teams in each of the Virtual Circuit events. Other teams interested in participating in the SubT Challenge may submit their qualification materials to be eligible for future events. The next qualification deadline is April 22, 2019, to establish eligibility for the Tunnel Circuit in August. Requirements can be found in the SubT Qualification Guide available on the Resources Page. Interested teams are also encouraged to join the SubT Community Forum, where they can engage with other participants and ask any questions. For additional information on the DARPA Subterranean Challenge, please visit www.subtchallenge.com. Please email questions to SubTChallenge@darpa.mil. https://www.darpa.mil/news-events/2019-01-22