WASHINGTON, D.C. – AALU/GAMA CEO Marc Cadin today released the following statement urging Congress to restore funding to the Small Business Administration’s (SBA) emergency loan programs, the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) program, which were depleted last week:
“Small businesses are struggling to survive and support their employees,” said Marc Cadin, CEO of AALU/GAMA. “Many are stuck in limbo without feedback or answers on their applications. We at AALU/GAMA are inspired by our members to do everything we can to provide financial security to them, their clients, and all those in need. We thank the Senate for their action today and urge the House to move swiftly to provide additional and sufficient relief to help these businesses, which so desperately need it.”
AALU/GAMA has hosted dozens of webinars open to the public on the resources provided by Congress and President Trump to help small businesses and their employees weather the economic storm produced by COVID-19. Thousands have attended the series, and the AALU/GAMA team has responded to hundreds of individual questions. AALU/GAMA members continue to extend the reach of this valuable information to advise their clients.
Cadin continued, “The immense popularity of these programs reflects the acute need to keep businesses and our economy afloat. Most of our members are small business owners and are still waiting to hear if they will be able to keep their staff on board and establish a path forward. We are grateful for the relief Congress has provided thus far and hope to see quick action to prevent further economic damage.”
Visit the AALU/GAMA COVID-19 Action Center here.