The Small Business Administration (SBA) will re-open the Paycheck Protection Program (PPP) starting Monday, following the passage of Congress’s bipartisan COVID-19 relief legislation. Representative Sean Patrick Maloney (NY-18) encourages every small business owner in-need of assistance to access this critical COVID-19 relief program.
“This program has been a lifeline for over 11,000 small businesses here in the Hudson Valley as we fight this virus. I was proud to help pass a bipartisan relief bill that includes dedicated funding for our small businesses, and urge every small business owner who needs assistance to apply for their first – or second – PPP loan as soon as possible. These largely-forgivable loans help keep workers on the payroll and the doors open, which is critical as we recover and rebuild from the economic damage caused by the coronavirus pandemic,” said Rep. Sean Patrick Maloney.
“On behalf of our members and the Hudson Valley business community, the Dutchess County Regional Chamber of Commerce is grateful to the federal government for listening to our pleas and agreeing to reopen the PPP loan process to small businesses affected by the pandemic. We are especially glad that minority owned businesses will be given priority in the first days. Small businesses are the backbone of our economy, and they have been decimated by this pandemic. Hopefully, with a vaccine now rolling out, we can quickly begin what is going to be a long road to recovery,” said Frank Castella, Jr., President and CEO, Dutchess County Regional Chamber of Commerce.
“We want to thank Congressman Maloney for his strong support of our businesses, and for his understanding of the importance of the Orange County Chamber and chambers across this region to the economic success of our communities. The second and expanded round of PPP funding was a truly bipartisan achievement and thanks to the work of Congressman Maloney and his colleagues, Chambers of Commerce are now eligible for this program and that is very good news!
“Throughout this pandemic, businesses have looked to Chambers for guidance and always received it, even as the Chambers themselves were experiencing their own financial losses. Since the start of the pandemic, my Chamber, the Orange County Chamber of Commerce, has provided assistance to over 300 PPP applications, made over 1 million referrals through our website member directory, in addition to all of our other vitally important services to our members. The PPP program will allow us and other Chambers to continue our vitally important work. We thank Congressman Maloney for his continued work to ensure that our small businesses can stay in business, and that the Chambers of Commerce will be there to assist,” said Lynn Allen Cione, President and CEO of the Orange County Chamber of Commerce.
In New York’s 18th Congressional District, over 11,070 small businesses utilized the PPP in the first round of loan disbursement, helping keep over 96,000 workers on the payroll.
On Monday, the program will reopen to small businesses who have not already obtained a PPP loan. On Wednesday, the program will reopen for small businesses who have drawn a PPP loan in the first iteration of the program.
The PPP has been enhanced and expanded to be more accessible and flexible for small businesses, seasonal employees, nonprofits – including 501(c)(6)s, housing cooperatives, and direct marketing organizations. The loans can now cover additional expenses, including operation expenses, property damage costs, supplier costs, and worker protection costs. It also allows qualifying existing PPP borrowers to modify their First Draw PPP Loan, or apply for a Second Draw PPP Loan.
Small business owners in New York’s 18th Congressional District who have questions about SBA lending and grant programs are encouraged to call Rep. Maloney’s Newburgh office: 845-561-1259. His office has a team of talented caseworkers who can work with small business owners and lenders to cut through red tape at the Small Business Administration.
For more information on this program, visit sba.gov/ppp.