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SMALL BUSINESS OWNERS ACROSS AMERICA NEED ASSISTANCE and here’s how you can help!

As of yesterday, the Small Business Administration’s $349 Billion fund for PPP, Payroll Protection Program is EXHAUSTED. This was part of the $2.2 Trillion CARES Act which allowed small businesses with 500 or less to apply for a loan up to $10 million prioritizing millions of Americans employed by small businesses, eligible nonprofit organizations, Veterans organizations and Tribal businesses as well as individuals who are self-employed. This loan also included a potentially forgivable grant if the funds are used for continuing employment and bringing employees back to the workforce. Immediate approval of an additional $250 Billion in funding will be the critical lifeline for our small business owners and the millions employed by them so that we can get America back to work when the Stay Home orders are lifted. You can help by contacting your local US representatives at the link below or call 202-224-3121 to leave them a message.

There are 30.2 million small businesses in the United States and only 1.6 million were approved and received the loan. It was first come first serve with SBA approved lenders rolling out the application process in a week’s time. The funding was exhausted in 12 days – more lending than the SBA has completed in 14 years!

I recommend calling the following and leave a message: Immediate approval for additional funding for the SBA PPP is critical. The PPP has been a lifeline for small businesses across America to continue to preserve jobs. Do not let this lifeline go away. Please approve today.

Recommended Contacts: Senator Majority Leader, Mitch McConnell, Senate Minority Leader, Chuck Schumer, House Speaker, Nancy Pelosi and House Majority Leader Steny Hoyer. Also, Your U.S. representative’s contact information can be found in this handy directory, and your U.S. senator’s information is in this one. If you want to call If possible, contact your representative’s office directly. Another option is dialing 202-224-3121.

At Campbell & Company, we are working to keep valuable resources and professional insight on Financial Relief for Individuals and Business Owners.