Removing Barriers Blog

Letter sent to Congressional leadership in support of PPP funding
Posted April 19, 2020 by CUNA Advocacy

On Sunday, CUNA wrote to Majority Leader McConnell, Speaker Pelosi, Leader Schumer, and Leader McCarthy encouraging Congress to appropriate the largest amount possible to the Paycheck Protection Program (PPP).  Additionally, the letter urges Congress to set aside a substantial portion of those fund for small lenders to ensure that small businesses are able to access funds from Main Street lenders, provided that such a set aside for small lenders does not delay the delivery of funds to small businesses, or complicate the approval process for lenders. 

The demand for these funds was so substantial that funds were exhausted within two weeks of implementation, leaving many small businesses across the country in the queue for loan approvals. Given the significant need that remains, it is critical that that Congress and the administration continue to support America's small businesses and their employees through additional PPP funding.   

On Friday, CUNA issued an Action Alert to credit unions and wrote to the all 535 Members of Congress in support of re-funding the program.