Amata reports Senate passage of bill replenishing PPP fund
Washington, D.C. – On Tuesday, Congresswoman Aumua Amata hailed Senate passage of a bill to replenish the urgently needed Paycheck Protection Program (PPP) for small business assistance, including new support for hospitals and small lenders.
The House will consider the $484 billion interim economic relief bill to provide another $321 billion in loans to small businesses, including $60 billion focused on smaller community lenders and credit unions so they can participate this time, measures that are expected to be helpful to improve access to underserved communities like American Samoa. Congresswoman Amata is welcoming news that some larger companies will be returning millions of dollars to the program so it is better focused on small employers.
“It’s so important for small businesses to have this PPP assistance back in action,” said Aumua Amata. “I am optimistic this bill will pass yet this week, restoring the ability to approve loans during this crisis.”
“Once the program is reopened, please check with your bank or other lender to learn about applying for this help if your business or organization needs it,” continued Amata. “It takes time and effort, but the program was shown to be working. Congress is passing these funds so that small businesses can survive, and the valuable services you provide remain available to the community at large after this crisis.”
Also of importance, the bill provides $75 billion to hospitals nationwide, and invests $25 billion in the national testing efforts. These crucial funds will be distributed through federal departments and agencies.
Congresswoman Amata anticipates working on additional legislation with colleagues in the coming weeks to continue improving conditions for American Samoa, all our territories and the entire Country through effective programs like the PPP and modifying other assistance as needed.