Small Business Fairness - Change the 8 week PPP loan window to start on date of reopening

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From Wikipedia:  The Paycheck Protection Program was a $349-billion business loan program established by the Coronavirus Aid, Relief, and Economic Security Act to help small businesses, self-employed workers, sole proprietors, certain nonprofit organizations, and tribal businesses keep paying their workers.

The Government's attempt to help Small Businesses during the COVID-19 shutdown with Paycheck Protection Program (PPP) loans is a great effort, but it has a major flaw. 

These loans, when a business was able to get one, is only good for 8 weeks from the date it's funded, and has to be spent specifically: 75% on payroll, 25% on rent, utilities, and interest, then it will be forgivable, meaning it turns into a grant, and doesn't need to be repaid. The intention of this loan is to help small businesses hire back most, if not all of their employees, and reopen for business.

This was written when the reopening date was early April.  Now, most states are looking at reopening dates of May or even June.

The PPP has already started to go out to businesses who will not be open for another 4-8 weeks.  (Some businesses are waiting for the second round of government funding.)  They can't pay their furloughed or laid off employees while they are not working.  These employees are getting unemployment plus an additional $600/week.  If their work pay is less than their unemployment, these PPP rules would mean that in order to comply with the SBA's PPP rules, the employer would have to bring their employee back for less money.  Small businesses shouldn't have to pull employees away from generous state support in order to avoid having the burden of additional financial stress, especially when they are STILL CLOSED for operations.  They will already have lost 2-3 months of important business revenue, from which they will never recover.

If the business waits until the business can reopen according to state and local ordinance, they may not have the benefit of the full 8 weeks to disburse the funds, and, if there is still a balance of unspent money, the loan will not become forgivable...instead it becomes a 2 year loan, or it would be given back to the government.  That isn't what it was intended for.  

Small businesses are the lifeblood of every community and the core of our economic survival.  Small businesses are generally funded not by venture capital, but through home equity loans, family money, and the blood, sweat, and tears of Mom & Pop's throughout our great country.  They support their employees in multiple ways, and that, in turn, supports communities and helps them to grow.

Let's tell the Small Business Administration, and our Governors to put a new guideline in place for these PPP loans--to allow the 8 week window to start when that business officially reopens.  This will ensure that this very generous and helpful loan is used for the purpose intended...to put people back to work, and to help small businesses to reopen!