In a letter to Congress this week, the American Society of Association Executives (ASAE) reiterated its request that lawmakers expand eligibility requirements for the popular Paycheck Protection Program (PPP) to include 501(c)(6) associations whose operations and revenue-generating activities have been gravely impacted by the ongoing pandemic.
The July 21 letter cites grim survey data conducted by the ASAE Research Foundation showing that many associations possess insufficient reserves to weather the pandemic without congressional action, while 72 percent of survey respondents projected they will use up to half of their reserves.
Despite ASAE’s numerous requests over the past several months, associations have been locked out of the PPP and other relief programs created by Congress to assist industries and small businesses struggling to meet payroll and other basic expenses.
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