Trade Groups Make Lobbying Push to be Included in SBA Loan Program
These groups are in extremely challenging financial situations
The group that represents trade associations lobbied this week for professional and advocacy organizations struggling through the coronavirus (COVID-19) to be eligible to receive small business loans.
Last week, the American Society of Association Executives (ASAE) hosted a virtual fly-in to call for changes to the Paycheck Protection Program (PPP) so 501(c)(6) organizations can receive loans. 501(c)(6) organizations, which include trade associations, professional societies and local chambers of commerce, were left out of the program when Congress passed its $2.2 trillion coronavirus relief bill in March.
“These groups are finding themselves in extremely challenging financial situations as a result of the pandemic,” Chris Vest, ASAE director of public policy, said to The Hill. “As the unemployment rate has skyrocketed, other revenue sources for associations are down as well, including membership dues... advertising and sponsorships."
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