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Advocacy Update: Paycheck Protection Program and Health Care Enhancement Act

Friday, April 24, 2020   (0 Comments)
Posted by: Laura Berry
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WIPP Advocacy Update: Paycheck Protection Program and Health Care Enhancement Act undefined
Women Impacting Public Policy

Paycheck Protection Program and Health Care Enhancement Act

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This week Congress passed an additional $484 billion relief package entitled the Paycheck Protection Program and Health Care Enhancement Act (). President Trump is expected to sign the bill into law today at 12 noon ET.

 

Here are the small business components that were included:

 

Paycheck Protection Program (PPP):

Additional $310 billion in funding for the program with $60 billion in sets asides to be made by the following institutions:

  • $30 billion for loans made by insured depository institutions and credit unions that have assets between $10 billion and $50 billion.
  • $30 billion for loans made by Community Development Financial Institutions (CDFIs), small insured depository institutions, and credit unions with assets less than $10 billion.

Economic Injury Disaster Loan (EIDL) Program:

Additional $60 billion in funding:

  • $50 billion for the Disaster Loans Program Account
  • $10 billion for the Emergency EIDL Grants ($10,000 advances)

Join us this Monday to learn more about this legislation and next steps during .

Share Our Letter To Congress

Share Our Letter

Thank you to all our WIPP Members and women-owned businesses who took our recent impact survey on the novel coronavirus/COVID-19 global pandemic. In addition to connecting business owners with legislators in specific cases, detailing the need for support for women-owned small businesses.

 

Our survey represented 34 states, with one-third of our participants identifying themselves as federal government contractors while two-thirds identified as private sector contractors. The pandemic has taken its toll on these businesses, with more than 71% of the respondents reporting a decrease in business.

 

Women-owned businesses are seeking relief from federal loan programs. Approximately 73% of our survey participants have already applied for federal funding, the majority listing either the Paycheck Protection Program (PPP) or Economic Injury Disaster Loan (EIDL) program. On a more positive note, 89% of respondents have been able to continue operations during this pandemic as of this date.

 

Women-owned businesses need the PPP and EIDL loan programs in order to stay in business. We urge the Congress to act expeditiously when demand exceeds appropriated funds.

Webinar: Monday, April 27

Intersectionality of COVID-19 & Small Business

Every Monday during this challenging time, WIPP is hosting free webinars on .

 

Hear up-to-the-minute business policy and funding information from Capitol Hill, including a breakdown of recent legislation. Each week's webinar will feature the WIPP Advocacy Team, the U.S. Small Business Administration, and a special topic of interest.

 

This Monday WIPP will moderate an expert-led discussion on the powerful connection between mind, body, and business in this uncharted territory featuring special guests:

  • Brenda Loube, CEO, BCL Teams
  • Dr. Karen Wolfe, international speaker, author, coach, and wellness entrepreneur

1120 Connecticut Ave NW Suite 1000

Washington, D.C. 20036

1-415-434-4314

 

WIPP is a national nonpartisan organization advocating on behalf of women entrepreneurs—strengthening their impact on our nation’s public policy, creating economic opportunities, and forging alliances with other business organizations. .

  

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more Calendar

6/1/2020
COVID-19: Position, Pivot, Profit

6/10/2020
WIPP Policy Update - June 2020

6/17/2020
WIPP Community Connections - June 2020

6/30/2020
WEP: Compliance Begins Before the Win!

7/8/2020
WIPP Policy Update - July 2020

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