|Dear ASAE Members and Advocates:
ASAE thanks you for your support and for actively weighing in as we seek to ensure associations are specifically included in any relief package for industries and businesses impacted by COVID-19.
Today, we have a new ask: A central component of the massive economic stimulus package (dubbed “COVID 3” because it is the third coronavirus relief bill Congress is considering) is giving the Treasury Department the authority to disburse hundreds of billions of dollars in emergency federal loans to businesses hurt economically by the coronavirus. About $500 billion is earmarked for the airlines, businesses, cities and states. There would also be an additional $350 billion in loan guarantees for small businesses to help them avoid layoffs. The current bill language includes “nonprofit organizations” as eligible for the small business loans, but not specifically all 501(c) organizations like 501(c)(6) trade and professional associations.
In the attached letter to Congress, ASAE asks Congress to make a simple correction in the bill text to ensure that all 501(c) tax-exempt entities are eligible to receive small business loans during this unprecedented crisis. We encourage you to write your legislators with this urgent appeal to help ensure all associations are eligible for these small business loans. Feel free to use ASAE’s language and/or tailor your message to fit your own organization’s concerns.
This third COVID-19 package is moving quite rapidly so it’s important to request changes as soon as possible. If you have questions about this issue, please contact the ASAE Public Policy team at email@example.com.
Thank you for your strong support.
Susan Robertson, CAE