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As Negotiations to Replenish Small Business Relief Programs Continue, Bilirakis Fights for Smallest of Businesses

April 16, 2020
Press Release

PRESS RELEASE

April 16, 2020

CONTACT

Summer Robertson 727-232-2921

 

As Negotiations to Replenish Small Business Relief Programs Continue, Bilirakis Fights for Smallest of Businesses

 

As of today, the Paycheck Protection Program (PPP) has allocated all of the $350 billion that was appropriated in the CARES Act. Over 1.6 million emergency PPP loans have been approved for small businesses throughout the country.  This includes over 52,000 applications and more than $12.2 billion worth of loans in Florida.  All week, Congressman Bilirakis has  been urging his colleagues to join him in supporting increases to this important lifeline for small businesses. The Senate attempted to pass a clean funding bill last week and it was blocked. “So many local small businesses are hurting and will not be able to survive unless we take immediate action,” said Bilirakis.  “This is not the time for politics. We need to work together to get this done. We must ensure Americans have jobs to return to when it is safe to do so.  We are still negotiating and I am optimistic that my colleagues will finally put the needs of our country over partisanship and we will replenish the fund soon.  I know each day matters.” Earlier today Bilirakis also reached out to Leadership in the House and Senate to ask that when Congress does replenish the PPP fund, that it set aside funding for the smallest of small businesses who have been at a disadvantage throughout this process.  While the program is permitted for businesses with up to 500 employees, many businesses with lower employee counts have been shut out. “Specifically, sole-proprietors and mom-and-pop type shops have less resources available to navigate the complicated and ever-evolving lender landscape as it relates to the PPP. I recommend that in any future package for increasing funding of the PPP, there be a portion of funds set-aside for businesses with less than twenty-five employees,” Bilirakis argued. Click here to read more about his request.