We have been so closely involved with Congress and Entrepreneurship over the last few weeks! Why? Because it is meaningful for our industry and we need to take an active role in the impact COVID-19 has had on small businesses like T3 Expo and others across the nation. We want to help shape policy and become active participants in the future of the SMB industry. If you are a small business, a supplier or an events company, how aware are you of what is coming from the federal government and the future of the CARES Act? The Landmark legislation was originally passed in March and we are happy to break it down the next steps.
We are grateful for the work that Small Business Committees in both the House and Senate are doing to create a second round of funding to highly impacted industries via the Paycheck Protection Program (PPP). They hope to have this included in a larger Coronavirus package that Congress and the Administration are working on and will hopefully pass in August.
Additional PPP loans would more than likely be similar to the existing program in order to make it fast and easy to administer. Existing PPP loan recipients could also apply for a new loan, as long as they meet the new eligibility requirements, which are in the process of being developed. Our job is to make sure the event industry is eligible for this second round of funding and to let them know the positive impact the additional funding would have on all of our companies.
We look forward to being involved in helping move these programs along. This is not a wait and see approach, nor a time to sit on the sidelines. We are on the frontlines, we are in the game, and we are helping make plays for our industry. How about you?