To Members of the United States Senate:
On behalf of the Small Business & Entrepreneurship Council (SBE Council), I am writing to urge your support of Paycheck Protection Program (PPP) legislation being advanced today, which would reopen, renew and make practical PPP reforms to aid many more struggling Main Street businesses. Each and every day, local economies are losing small businesses, which means the economic hole gets deeper and harder to rebuild from once the pandemic passes. Small businesses are facing significant challenges right now and they need immediate capital, which is provided for in the “Continuing Paycheck Protection Act.”
There should be nothing partisan or political about supporting small businesses via this vital legislation. It simply includes timely changes to PPP – a program developed and passed with strong bipartisan support – and unlocks $138 billion in outstanding funds sitting idle in Washington. Entrepreneurs and their employees need this assistance now to help them weather the very challenging months ahead.
The PPP continuation bill will allow a second draw loan for businesses that need this bridge to a recovering economy, and make practical changes that align with the current needs of businesses in the COVID-19 economy. Furthermore, the bill targets the smallest businesses, simplifies the forgiveness process which benefits small businesses and the federal government alike, and provides certainty and clarity for all participants in the PPP ecosystem.
The survival of millions of small businesses is at stake. There is no justification for voting “no” or blocking this critical PPP lifeline to your small business constituents. Support is urgent. Please support the effort to deliver small businesses the capital they need NOW by voting to advance the “Continuing Paycheck Protection Act.”
Sincerely,
Karen Kerrigan, President & CEO
