Representative Rosendale Fights For Small Business, Introduces Ppp Relief

Press Release

Washington, DC -- This week, Representative Rosendale introduced the Paycheck Protection Program Loan Forgiveness Flexibility Act of 2021. The Legislation provides deadline flexibility for small businesses participating in the Paycheck Protection Program (PPP).

When the first round of Paycheck Protection Program loans were approved, the original deadline to qualify for the rehiring exception and maintain eligibility for loan forgiveness was set to June 30, 2020. When it became clear the pandemic was continuing, the deadline was extended to December 31, 2020.

We are now over 60 days from the last PPP deadline but the COVID-19 pandemic and local ordinances continue to impact our small businesses. Rather than continuing to fight over an arbitrary deadline, which has not worked in the past, the Paycheck Protection Program Loan Forgiveness Flexibility Act of 2021 remedies this issue. It will set the rehiring deadline for the first and subsequent rounds of PPP loans to 90 days after the termination of all applicable COVID-19 emergency declarations based on the jurisdictions in which the business is located.

"I'm proud to introduce the PPP Loan Forgiveness Flexibility Act. Current Paycheck Protection Program rules have set dates and hard deadlines for still-struggling small businesses. For some, this is too much to manage," said Representative Rosendale. "This legislation changes deadlines from a set date to 90 days after the end of COVID-19 emergency declarations in the small businesses' locale. It's a commonsense change and will do a lot to help businesses as we continue to recover from the pandemic."

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