05.15.20

Gardner Secures New PPP Guidance for Seasonal Employers

New SBA guidance that Gardner repeatedly called for allows seasonal employers and partnerships to increase their Paycheck Protection Program loan amounts

Washington, D.C. – U.S. Senator Cory Gardner (R-CO) applauded the Small Business Administration’s (SBA) new action allowing partnerships and seasonal employers to increase their Paycheck Protection Program (PPP) loan amounts based on subsequently issued guidance. Gardner has repeatedly called for this action to improve the PPP to better meet Colorado’s economic needs during the COVID-19 pandemic.

“Through the CARES Act, Congress took bold and immediate steps to help workers and small businesses get through the COVID-19 pandemic. The Paycheck Protection Program has proven to be an essential lifeline for small businesses in Colorado, but we must continue to improve it to meet our state’s specific needs,” said Senator Gardner. “Many of Colorado’s seasonal employers and partnerships accepted lower loan amounts in good faith based on the available information, but later guidance clarified the rules. The SBA’s decision is welcome news and will help workers in Colorado’s outdoor recreation, agriculture, hospitality industries, and more withstand this pandemic.”

Gardner is consistently requesting improvements to the PPP to better serve Coloradans:

  • Gardner introduced bipartisan legislation with Senator Joe Manchin (D-WV) to increase the length of time that businesses have to spend PPP funds from 8-16 weeks.
  • In a May 2020 letter to his Republican colleagues, Gardner requested changes to the PPP based on his conversations with Colorado small businesses.
  • Gardner and members of the Colorado congressional delegation secured clarification from the SBAin April 2020 that Critical Access Hospitals (CAHs) and Rural Health Clinics (RHCs) are eligible for assistance from the PPP.
  • In April 2020, Gardner, Governor Jared Polis, and Senator Michael Bennet (D-CO) made a unified request to improve the CARES Act to better support Coloradans through COVID-19.

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Cory Gardner is a member of the U.S. Senate serving Colorado. He sits on the Energy & Natural Resources Committee, the Foreign Relations Committee, the Commerce, Science, & Transportation Committee, and is the Chairman of the Subcommittee on East Asia, the Pacific, and International Cybersecurity Policy.