IAAPA asks Congress to amend PPP on behalf of the attractions industry
The global association for the attractions industry seeks critical changes to help save small businesses
IAAPA, the global association for the attractions industry, together with 20 associations, has written to Congress urging important changes to the Paycheck Protection Program (PPP) so that it can help meet the needs of small businesses deeply affected during COVID-19 crisis. While the establishment of the PPP in the Coronavirus Aid, Relief, and Economic Security (CARES) Act is a critical first step in providing relief for businesses, IAAPA has stated, the program in its current form will not adequately be able to prevent the permanent closure of small businesses in the attractions industry.
“The attractions industry is comprised of small businesses around the country, many that are family-owned and operated,” said Hal McEvoy, president and CEO of IAAPA. “Today those businesses are facing prolonged revenue losses, and uncertainty about their future. The Paycheck Protection Program (PPP) is one way Congress can help preserve thousands of jobs and provide critical assistance to these businesses during this uncertain time.”
IAAPA, together with 20 associations including U.S. Travel Association, has recommended the following changes to Congress to help aid the attractions industry and small businesses around the country:
- Extend the duration of the program through December 31, 2020.
- Remove funding uncertainty.
- Increase borrowing limits so businesses can withstand an extended period of lost revenues and operational disruption.
- Expand the list of covered expenses.
- Extend covered period for loan forgiveness.
- Ensure businesses are not penalised if former employees are unwilling to return.
The full letter can be read on IAAPA’s website here. A detailed treatment of IAAPA’s proposals for updates to the coronavirus relief legislation can be found here.
IAAPA jointly submitted and signed the letter with: American Hotel & Lodging Association, Asian American Hotel Owners Association, Disability:IN, Economic Innovation Group, Exhibition Services & Contractors Association, Experiential Designers + Producers Association, International Association of Exhibitions and Events, International Franchise Association, Main Street Alliance, Main Street America, National Association for the Education of Young Children, National Association of Women’s Business Owners, National Restaurant Association, National Small Business Association, Small Business Majority, Small Business Roundtable, Society of Independent Show Organisers, U.S. Hispanic Chamber of Commerce, and U.S. Travel Association.