WASHINGTON D.C. — Congressman Dan Kildee (MI-05), Chief Deputy Whip of the House Democratic Caucus, today announced that the Paycheck Protection Program (PPP) has helped 5,415 small businesses throughout the Fifth Congressional District, according to data published by the U.S. Small Business Administration.
Since the PPP program was enacted in March, over $644 million has gone to small businesses in the district, helping to retain thousands of workers.
Congressman Kildee voted to establish the PPP through the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which included a new program to provide forgivable loans to small businesses impacted by the coronavirus pandemic. Congressman Kildee also supported The Paycheck Protection Program and Health Care Enhancement Act a bipartisan coronavirus relief package to provide additional relief for Michigan’s small businesses.
“Small businesses are the backbone of our economy and it is essential we provide them with the resources they need during the coronavirus pandemic. While we have a lot more to do to help families and small businesses get through this pandemic, I am pleased that the Paycheck Protection Program helped thousands of local small businesses throughout mid-Michigan,” Congressman Kildee said. “I encourage every small business who has not already received a PPP loan to apply before the August 8th deadline.”
Congressman Kildee has been a fierce advocate for small businesses during the coronavirus pandemic. In April, Kildee sent a letter requesting that any additional coronavirus emergency aid bills prioritize aid for underserved communities. He has also introduced the RELIEF for Main Street Act, a bipartisan bill to provide additional assistance for very small businesses with an emphasis on those that are minority- and women-owned.
Michigan small business owners have until August 8th to apply for a loan, and can learn more about the PPP by contacting their lender or by finding a PPP lender through the SBA website. — G.G.