WASHINGTON, D.C. (April 16, 2020) — The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, issued the following statement on behalf of NFIB President Brad Close following reports the Paycheck Protection Program had exhausted its funding:
“America’s small businesses are on the brink, trying desperately to keep their doors open and support their employees. They have been let down by lawmakers and the bureaucracy with the smallest businesses most disadvantaged in attempting to participate in the Paycheck Protection Program. We’ve been hearing from our members, every day, worried the $349 billion lending program would run dry before help gets to them. Today, their worries became a reality.
“We urge congressional leaders to prioritize America’s small businesses above their political disagreements and immediately provide additional funding for the Paycheck Protection Program.”
This week, NFIB penned letters to congressional leaders, urging them to immediately provide further appropriations to the Paycheck Protection Program (PPP), and to the Small Business Administration, strongly encouraging them to address significant funding and communication issues related to the Economic Injury Disaster Loan (EIDL) program.
Take Action: Tell your members of Congress your experience applying for PPPL and EIDLs and how they need to improve and expand these programs immediately.