NRMCA Rallies Support for Including Non-Profits in SBA Loan Programs
NRMCA last week urged state affiliates to support advocacy efforts asking Congress to include additional non-profit organizations, including 501(c)6 membership organizations, in future funding of Small Business Administration loan programs. Under the CARES Act, only 501(c)3s and 501(c)19s (veterans’ organizations) were eligible for the Paycheck Protection Program (PPP) loans while organizations that engage in lobbying are not eligible for Economic Injury Disaster Loans. Consequently, state affiliates, local and state chambers of commerce, and national trade associations like NRMCA, NSSGA and PCA are ineligible for PPP loans.
State associations, local and state chambers of commerce, and national associations serve America’s small business community. The vast majority of NRMCA’s members and our state affiliates members are small, family-owned businesses. Making 501(c)6 organizations eligible for future SBA funding would help ensure that many of the organizations that support our members are able to continue to function and provide the information, education, technical assistance and expertise that members rely on to run their businesses.
- Click here to read the Chamber of Commerce’s sign-on letter.
- Click here to read the American Society of Association Executives’ letter.
- Senator Jerry Moran (R-KS) has circulated a letter supporting expanding SBA funding to local and state chambers of commerce.
- Reps. Chris Pappas (D-NH) and Brian Fitzpatrick (R-PA) led a letter signed by 63 House members supporting expanding SBA funding to chambers of commerce and other 501(c)6s.
For more information, contact Andrew Tyrrell at email@example.com.