Advocate to Extend Paycheck Protection Program for Small Businesses

More than 22,000 small business received Paycheck Protection Program loans from Northwest credit unions in 2020. This lifeline funding helped them continue to pay employees and keep up with other expenses, such as rent and utilities, after the COVID-19 pandemic forced them to close or curtail the level of services they could provide. And the loans were forgivable.

Main Street businesses need your help once again. The latest coronavirus relief package, The American Rescue Plan, set aside billions for the PPP program, and includes a special package to help struggling restaurants. Many Northwest credit unions are already funding loans for businesses; however, the program expires March 31.

“Credit union advocates who joined us for Hike at Home during the CUNA Governmental Affairs Conference earlier this month, successfully messaged their House delegation to support legislation extending the PPP through May 31,” said Samantha Beeler, Vice President, Advocacy, Northwest Credit Union Association. “Now, it’s up to the Senate, and your voice is needed.”

Last week’s House vote passing H.R. 1799 was bipartisan and the legislation was cosponsored by seven Northwest Representatives following NWCUA’s Hike at Home meetings. The “PPP Extension Act of 2021” is now making its way through the Senate.

The NWCUA’s Grassroots Advocacy Center contains a prepared message that credit union advocates can use to contact their senators. It takes just minutes to fill out the form. Please log onto the Call to Action today and ask your senators for their support.

Main Street will thank you.

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Posted in Advocacy News.