ISSA Signs on to Letter Calling for Additional Funding for Paycheck Protection ProgramApril 16, 2020
ISSA, along with more than 200 national and state-based trade groups, has signed on to a letter calling on U.S. Congress to quickly authorize additional funding for the Paycheck Protection Program (PPP) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which U.S. President Donald Trump signed into law on March 27. The letter urges Congress to act expeditiously to assure the PPP will have the resources necessary to sustain America’s small business economy through the COVID-19 pandemic.
PPP loans provide a vital source of liquidity to more than one million individually and family-owned businesses whose operations have been curtailed or shut-down by “stay-at-home” orders and other government actions taken in response to the novel coronavirus. These businesses, in turn, are using the loans to keep millions of Americans employed. According to the U.S. Small Business Administration, banks have already committed most of the US$349 billion provided to capitalize the PPP and it’s likely the program will run out of money within the week, leaving millions of additional businesses without the funds necessary to keep their workers employed.
“ISSA urges Congress to act now to authorize additional funding for the PPP so these vital loans can continue to ensure that additional cleaning industry workers are able to keep their jobs and smaller cleaning industry businesses are able to avoid bankruptcy,” said John Nothdurft, ISSA Director of Government Affairs.
ISSA is working diligently to support the full-spectrum of the cleaning industry, the U.S., and the world during the COVID-19 emergency. The association engaged in discussions with White House officials to maintain a strong supply chain for critical supplies in the face of this crisis. We urged the U.S. Department of Homeland Security, as well as the governors of all 50 states and U.S territories to recognize the cleaning industry as essential as they consider potential restrictions to business operations. Additionally, ISSA called on the U.S. Department of Labor to broadly apply paid leave exemptions for small businesses during this challenging time.
For questions regarding ISSA advocacy, including the association’s response to COVID-19, please contact John Nothdurft at [email protected].