Based on your feedback on the EIDL and PPP loan processes, Rep. Houlahan sent the attached letter to congressional leadership asking for the fourth COVID-19 legislative aid package to address the issues raised by her constituents. Specifically, this letter requests the inclusion the following priorities:
- Additional PPP and EIDL funding set aside specifically for small/community banks and/or businesses with fewer than 25 employees
- Additional funding for the SBA to speed the process of approving new PPP lenders
- Additional funding for business mentorship programs, including SCORE
- Expansion of the permitted uses for EIDL and PPP loans
- Automatic funding extensions to ensure EIDL and PPP loans are available for as long as we endure the COVID-19 crisis
Rep. Houlahan has also signed letters written by her colleagues to the SBA and Department of the Treasury requesting clear SBA guidance on the PPP loan process for lenders, proactive outreach regarding the PPP to underserved and minority communities, and prioritization of businesses with fewer than 25 employees for PPP lending. We understand how frustrating and complicated these programs have been for many in our community, and Rep. Houlahan is committed to ensuring everyone has equal access to these innovative and important programs during this uncertain time. We appreciate you sharing your stories with us and we will continue to advocate for these measures as Congress considers next steps.
The House Committee on Small Business, of which Rep. Houlahan is a member, also released the “Navigate the CARES Act for Small Businesses” guide which contains updates and information on the implementation of the CARES Act. That document is attached to this email.
On April 9, 2020 the Department of the Treasury and the IRS announced that tax returns and payments for tax-exempt organizations and fiscal year businesses due between April and June are postponed until July 15, 2020. For additional information, click here.
Finally, this Friday, April 17th, at 3PM, Rep. Houlahan will host a second telephone townhall specifically for small business owners. She will be joined by representatives from the local SBA office and SCORE to answer your questions about PPP, EIDL, and other small business issues. If you would like to join, please RSVP by Thursday, April 16th at 6PM at the following link: https://myaccount.maestroconference.com/conference/register/AWFRF2RAO2N00SPB
We hope you can join us.
As always, please continue to check our website for updates and send questions to our various COVID-19 email addresses:
- PA06.UnemploymentCompensation@mail.house.gov – For questions and information regarding the temporary extended eligibility for unemployment compensation.
- PA06.TaxesAndRebates@mail.house.gov – For questions and information regarding IRS filings and economic impact payments (individual rebates).
