Legislation / Business Continuity Funding
Paycheck Protection Program
Through the CARES Act, Congre
ss
established the Paycheck Protection Program (PPP) which provided up to $349 billion in loans to small businesses. Due to staggering demand, the fund was quickly exhausted, necessitating an additional $320 billion be added to the fund on 4/24/2020. We recommend working directly with your lender to discuss your options in applying for this funding. Though this extraordinary governmental action has helped many businesses, we believe a bolder step is needed to address the unprecedented economic challenges facing our nation.
Business and Employee Continuity and Recovery Fund
Morris & Garritano supports the creation of a “COVID-19
Business and Employee Continuity and Recovery Fund
.” We are joined by a coalition of the business community in asking Congress and the President to create this fund, which goes beyond the CARES Act in helping businesses keep employees on payroll, maintain worker benefits, and meet debt and rent obligations.
This coalition of over
60 trade groups
includes the International Council of Shopping Centers (ICSC), American Hotel & Lodging Association (AHLA), National Retail Federation (NRF), and International Foodservice Distributors Association (IFDA). We encourage all our partners, clients, and vendors to join us in advocating for this legislation.
A summary of The Fund can be found
here
; the letter sent to government leaders outlining The Recovery Fund can be found
here.