![]() ![]() Chains and groups of same-brand businesses owned by one owner, or a substantially similar owner group, will be considered as a single business. IIPPP will follow similar application guidelines to the original PPP, except that the approved IIPPP amount is prorated based on the revenue drop compared to same month(s) in 2019.Īny organization employing less than 500 people is eligible (70% of all businesses), as are medium-sized businesses from 500-1500 (another 28% of businesses) - together, these 98% of businesses account for the vast majority of all jobs. EIDL and other SBA loans not forgiven, accepted or otherwise, have no impact. Grants or forgivable loans received from any special coronavirus programs by any government agency would be deducted. Periods already covered by a loan from the original PPP program are not eligible. Please enact a new Impacted Industry Paycheck Protection Program (IIPPP) specifically targeted to assist all organizations that have been and are suffering the most from the government restrictions and guidelines intended to protect our communities.Īny small business which has suffered a drop of at least 15% in revenue, for any month after January 31, 2020, compared to the same month in 2019, may apply for IIPPP. I want a cohesive strategy today based on proven success of the bi-partisan PPP program, without delay - the time is now. I want a program that will cost less overall than providing unemployment with a major economic downturn. I want to avoid burdening our states’ budgets and systems. I want to recognize that many industries, for the good of everyone, are impacted more, earlier, and longer than others. I want our economy to recover quickly and avoid the tidal wave of bankruptcies coming. I want government help to be without favoritism, and make it easy for all demographics to get help. I want small business, who generate the vast majority of new jobs in the United States, and account for half of the jobs in the US overall, to continue to survive. I want my friends and family to have jobs to go back to and be able to make ends meet. Dear Congress, President Trump and Leaders…
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