(Washington D.C.) Iowa U.S. Senator Joni Ernst, a member of the Small Business Committee, last week, supported a bipartisan extension of the Paycheck Protection Program (PPP), allowing Iowa small businesses to continue utilizing the program.
Ernst says, “The Paycheck Protection Program has been a critical lifeline for Iowa’s small businesses throughout this pandemic. As a senior member of the Senate Small Businesses Committee and champion of our local employers across the state, I believe it’s important we extend this program, allow more folks to get access to support, and continue to fix some of the ongoing issues within the PPP. This bipartisan bill will help us do that.”
Additionally, Ernst pressed officials from the Small Business Administration (SBA) to implement federal COVID-19 relief programs at a Small Business Committee hearing.
Ernst stated that she had heard from Iowans who are eligible for the second round of PPP but have been unable to receive funds because of hold codes placed against their loan and asked what steps SBA is taking to resolve them.
Ernst reiterated other members’ calls for a smoother roll-out of the Shuttered Venue Operating Grant program than for the PPP.
Ernst cited a college in northwest Iowa as just one example of several Iowa universities and rural hospitals that received PPP loans and are still waiting for forgiveness—and asked SBA officials to provide more clarity on the timing of loan forgiveness.
SBA Officials assured Senator Ernst they have a plan in place to resolve these issues.
