Reps. Herrera Beutler, Kilmer Push for Loan Forgiveness for Small Businesses that Use Proposed Loan Program to Maintain Payroll During Crisis
U.S. Representatives Jaime Herrera Beutler (R-Battle Ground) and Derek Kilmer (D-Gig Harbor) called on congressional leadership negotiating the next COVID-19 emergency response package to include an additional economic relief program for small businesses that will complement the Small Business Administration’s (SBA) Disaster Assistance loan program currently being implemented across the country.
Herrera Beutler and Kilmer sent a letter urging congressional leaders to include a relief program that resembles the solution in the Keeping Workers Paid and Employed Act that would provide loans to encourage small businesses to continue paying employees during the COVID-19 crisis, and allow those loans to be forgiven if used to maintain their current payroll.
“While the previous two supplemental funding packages Congress approved would ensure that low-interest Disaster Assistance loans and other financial assistance measures from the Small Business Administration are available, several small business owners have told us that these loans are simply not enough to keep them afloat until this crisis subsides,” wrote Herrera Beutler and Kilmer.
Source: The Daily Chronicle