IFA-led Small Business Coalition Urges for Expanded Eligibility Requirements for Proposed PPP Second Draw

WASHINGTON, D.C., AUGUST 5 – In a letter to lawmakers, the International Franchise Association (IFA) today led a business coalition advocating for an expansion of proposed Paycheck Protection Program (PPP) eligibility requirements to a greater share of struggling small businesses.

The letter, signed by 120 organizations representing small businesses nationwide, called for lowering the gross revenue reduction requirement from 50 percent, as many small businesses risk closing without appropriate access to relief measures. Letter signatories include IFA, American Farm Bureau Federation, Associated General Contractors, Associated Builders and Contractors, NFIB, National Restaurant Association, National Retail Federation, National Small Business Association, Small Business Majority, Small Business Roundtable, the U.S. Chamber of Commerce, and the U.S. Travel Association.

In part, the letter states:

Many small businesses operate with slim profit margins in a normal economy. For them, even a revenue decline of 20 percent or greater could mean the difference between staying in business or closing. As for employees, such a revenue decline could mean the difference between remaining at work and receiving benefits or losing their jobs.”

For businesses with revenue declines of 20 percent or greater, but less than 50 percent – businesses currently excluded from the proposed CSBRPP Act – broad access to a second round of PPP funding, and the new, long-term, low-interest loan program, may prove the lifeline they need to stay afloat throughout the economic recovery. This second round of funding and access to these long-term loans is akin to a targeted investment from the federal government into the very businesses where it can make the most difference – many of whom benefited from PPP in the first place, but now, through no fault of their own, remain closed or forced to operate at reduced capacity to protect the safety of their employees, customers and the general public.

In summary, we urge you to expand small business access to the proposed PPP second draw by changing the eligibility requirement that businesses must demonstrate a gross revenue reduction of at least 50 percent.

To view the coalition’s letter, please click here.

Letter signatories include:

AICC, The Independent Packaging Association

AMT – The Association For Manufacturing Technology

Aeronautical Repair Station Association

Agricultural Retailers Association

Air Conditioning Contractors of America

America’s Health Insurance Plans

American Bakers Association

American Beverage Licensees

American Council of Engineering Companies

American Farm Bureau Federation

American Home Furnishings Alliance

American Institute of Architects

American Lighting Association

American Mold Builders Association

American Rental Association

American Road & Transportation Builders Association

American Subcontractors Association

American Supply Association

American Veterinary Medical Association

Asian American Hotel Owners Association

Associated Builders and Contractors

Associated Equipment Distributors

Associated General Contractors

Association of the Wall and Ceiling Industry

Auto Care Association

Coalition of Franchisee Associations

Commercial Food Equipment Service Association

Commercial Vehicle Solutions Network Association

Convenience Distribution Association

DHI – Door Security and Safety Professionals

The Design-Build Institute of America

Electronics Representatives Association

Family Enterprise USA

Foodservice Equipment Distributors Association

Franchise Business Services

Global Business Travel Association

Global Cold Chain Alliance

Home Care Association of America

Home Furnishings Association

Independent Office Products & Furniture Dealers Alliance

Independent Electrical Contractors

Independent Insurance Agents & Brokers of America

Industrial Fasteners Institute

International Council of Shopping Centers

International Foodservice Distributors Association

International Franchise Association

International Housewares Association

Job Creators Network

MSCI, Metals Service Center Institute

Manufacturer & Business Association

Marine Retailers Association of the Americas

NFIB

National Apartment Association

National Association of Broadcasters

National Association of Electrical Distributors

National Association of Home Builders

National Association of Professional Employer Organizations

National Association of the Remodeling Industry

National Association for the Self-Employed

National Association of Trailer Manufacturers

National Association of Truckstop Operators

National Association of Wholesaler-Distributors

National Association of Women Business Owners

National Automatic Merchandising Association

National Community Pharmacists Association

National Cotton Council

National Council of Chain Restaurants

National Electrical Contractors Association

National Electrical Manufacturers Representatives Association

National Fastener Distributors Association

National Fisheries Institute

National Franchisee Association

National Independent Automobile Dealers Association

National Insulation Association

National Marine Distributors Association

National Multifamily Housing Council

National Office Products Alliance

National Propane Gas Association

National Ready Mixed Concrete Association

National Restaurant Association

National Roofing Contractors Association

National Retail Federation

National Small Business Association

National Tooling and Machining Association

National Waste & Recycling Association

North American Association of Food Equipment Manufacturers

North American Die Casting Association

Office Furniture Dealers Alliance

Out of Home Advertising Association of America

Outdoor Industry Association

Outdoor Power Equipment and Engine Service Association

Pet Industry Distributors Association

Petroleum Equipment Institute

Petroleum Marketers Association of America

Precision Machined Products Association

Precision Metalforming Association

PRINTING United Alliance

Professional Beauty Association

Promotional Products Association International

The Real Estate Roundtable

Retail Bakers of America

Service Station Dealers of America and Allied Trades

Signatory Wall and Ceiling Contractors Alliance

The Small Business Council of America

Small Business & Entrepreneurship Council

The Small Business Legislative Council

Small Business Majority

Small Business Roundtable

Spray Polyurethane Foam Alliance

Tile Roofing Industry Alliance

Tire Industry Association

The Transportation Alliance

Truck Renting and Leasing Association

Textile Care Allied Trades Association

United Fresh Produce Association

U.S. Chamber of Commerce

U.S. Travel Association

Washington Retail Association

Wine & Spirits Wholesalers of America

Workplace Policy Institute

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