SBA Shutting Out New EIDL Loan Applicants

Facing overwhelming demand from struggling businesses, the Small Business Administration (SBA) appears to have significantly limited the size of loans issued while blocking nearly all new applicants from accessing the assistance. The Economic Injury Disaster Loan (EIDL) is a longstanding SBA program that pre-dates the COVID-19 pandemic and is separate from the popular Paycheck Protection… Read more »

House COVID-19 Bill Includes Aid for All 501(c) Groups

House Democrats introduced a $3 trillion coronavirus relief package this week that expands access to the Paycheck Protection Program (PPP) for all 501(c) organizations, among numerous other provisions. ASAE and its member advocates have spent weeks urging Congress to provide specific relief through the PPP for associations impacted by the COVID-19 pandemic. All Section 501(c)… Read more »

Treasury Extends Deadline for PPP Loan Returns

The Treasury Department and Small Business Administration (SBA) announced this week an extension of the safe-harbor period for returning Paycheck Protection Program (PPP) loans to May 14. SBA had previously set a May 7 deadline for companies and 501(c)(3) nonprofit groups that received PPP loans in order to maintain payroll and other expenses during the… Read more »

ASAE’s COVID Advocacy Work Noted in WSJ

ASAE’s advocacy work on behalf of associations hard hit by the COVID-19 crisis was noted in a Wall Street Journal article this week about organizations working to secure assistance for their industries. ASAE and thousands of its members’ associations have urged Congress for weeks to provide emergency assistance for the nation’s associations, which are working… Read more »

Bipartisan Bill Introduced to Include 501(c)(6)s in PPP

As the House readies to return to Washington next week to iron out a “CARES 2” COVID-19 relief package, Reps. Chris Pappas (D-NH), Brian Fitzpatrick (R-PA), Gil Cisneros (D-CA) and Greg Steube (R-FL) introduced legislation May 6 to ensure Section 501(c)(6) trade and professional associations receive federal assistance to weather the economic downturn resulting from… Read more »