Urgent: Paycheck Protection Program Requires Additional Funding and Revisions
April 16, 2020
Today, the Small Business Administration announced it can no longer accept new applications or approve new lenders for the Paycheck Protection Program. The $349 billion allocated by the CARES Act has been exhausted.
This program is critical as it provides support to struggling small businesses, providing funds for them to continue paying their employees for up to eight weeks.
Congress is considering additional funding. Your participation in the following Call To Action will help ensure we send a strong message to our leaders on the needs for both additional funding and revisions to the program.
For perspective, there are a little over 30 million small businesses in the U.S. This program is a vital resource for small businesses that are struggling and credit unions have stepped up to be a part of the solution. By taking a moment to engage with this Call To Action, you are giving voice to your members and small businesses in your community.
Thank you for advocating for credit unions and your members!
Posted in Advocacy on the Move.