Virginia Representative Urges SBA to Provide PPP Clarity
In an effort to help workers keep their jobs and assist businesses who struggled because of the pandemic, Rep. Elaine Luria (D-VA) urged the Small Business Administration (SBA) to clarify that small finance companies are eligible to receive Paycheck Protection Program (PPP) loan forgiveness.
In Rep. Luria’s letter sent earlier this week, she said, “these small businesses need loan forgiveness to cover payroll costs, rent, utility costs, during an unprecedented time.”
At the onset of the pandemic, the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (CISA) deemed “financial services and lending services” a vital component in the nation’s critical infrastructure. AFSA’s members continued to safely serve their customers and provide financial relief for those impacted by the pandemic.
Since the SBA took a narrower interruption of the type of main street jobs and American industries that should receive PPP funding, AFSA has written extensively to both the Administration and Congress about the need to provide clarity for small lending businesses. AFSA appreciates Rep. Luria’s effort to raise awareness and fight for thousands of workers and many companies throughout Virginia and elsewhere that were considered essential during a time of health and economic uncertainty.
January 13th, 2022 by Dan Bucherer