SBLC Reaches Out To Congress On Small Businesses’ Behalf
The Small Business Legislative Council (SBLC) has sent a letter to Senate leaders encouraging them to secure additional funding for the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) program, and to expand access to them. PPAI is a member of the SBLC and Paul Bellantone, CAE, PPAI president and CEO, is the group’s 2020 board chair.
The SBLC’s letter highlights that while the programs have brought relief to businesses, there are also reports that small businesses are facing difficulties in accessing the loans, either due to trouble navigating the application process or finding a lending institution that will accept it. The letter also notes that the Small Business Administration has imposed limits on EIDL loan funding significantly below what is provided by statute—rendering them insufficient for providing meaningful assistance to most small businesses, and that 501(c)(6) organizations—which constitute most of the SBLC’s membership—have been excluded from accessing PPP funding.
“The funds appropriated for the PPP and EIDL programs are already exhausted,” the letter says. “In the face of this, we urge Congress to take swift action to secure the vision and intent of the PPP and EIDL by authorizing additional funding for these programs and to expand PPP eligibility to 501(c)(6) organizations.”
The SBLC is an independent, permanent coalition of more than 30 national trade and professional associations representing tens of thousands of small businesses in federal legislative and regulatory issues. The council is focused on helping its member associations address the concerns of their own small-business members and the small-business community.