Amata Calls For Urgent Passage Of More PPP Loan Funds

Statement

Thursday, Congresswoman Aumua Amata is calling for rapid passage of the necessary Paycheck Protection Program (PPP) funds to process loans that are already in the pipeline, and help potential applicants who have not yet completed the process. The Small Business Administration (SBA) has just reported this week that every State and Territory including American Samoa has had a business receive funding from the PPP, highlighting the importance of keeping this program funded so more individuals and their businesses can continue participating in this vital relief program.

"A number of my constituents need these loans, and want to avail themselves of this assistance, including small businesses and potentially church and private school payrolls," said Aumua Amata. "House and Senate leadership should reach a bipartisan agreement and set aside all other differences to fund this program in this time of national need. Small businesses were told to apply by May 5, so that the time frame of availability should be fully honored."

More than a week ago, the Senate was set to consider the necessary $250 billion additional funds before partisan differences delayed the process.

"As Vice Ranking Member on the Small Business Committee, I know how effective for small businesses access to capital from the SBA can be," continued Amata. "Both SBA and the additional state, territory and local government funding for administration and support of local hospitals should all be included in the next rounds of funding."

Talks continue among Senate Minority Leader Schumer, Speaker Pelosi, and Treasury Secretary Mnuchin. There is mounting pressure to provide additional monies to the SBA Paycheck Protection Program as the CARES Act funds are depleted. Republicans want an interim bill to add another $250 billion to the SBA program. Democrats want an additional $250 billion for state and local governments and hospitals, changes to the small business program, and more money for other loan programs that could also run out of money.

"Some of the sticking points might be worthwhile, others unnecessary, but none of them should delay this important and necessary funding," concluded Congresswoman Amata. "Far too many people are counting on these funds, and they are dealing with uncertainty, and worries about payroll and basic expenses. We need this program back in action."

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