|Posted:||May 1, 2020 01:39 PM|
|From:||Representative Joe Ciresi|
|To:||All House members|
|Subject:||COVID-19 Banking on Pennsylvania Small Businesses Act and Banking on Pennsylvania Non-Profits Act|
|Pennsylvania’s small mom and pop businesses and non-profits, especially smaller non-profits, continue to face ever-increasing hardships during the COVID-19 pandemic.
Unlike larger businesses and corporations that have staff that can provide legal and financial guidance, many of these mom and pop businesses and non-profits are on their own when trying to sort through the various federal and state stimulus programs. With some programs running out of funding in just weeks or even days, this delay has caused them to miss out on valuable grant opportunities.
Our state-charted banks, credit unions, and financial institutions have been, and will continue to be, part of the solution by helping these businesses and non-profits sustain their livelihood, whether that is through further extensions of credit or financial assistance in the form of deferred loan payments or creating new repayment options or plans.
My proposal builds on that good work while drawing attention to the various programs that already are available at our banks and credit unions, so that every small business and non-profit that truly is in need of a helping hand knows there is a place to turn.
These bills simply say that small businesses and non-profits operating in Pennsylvania CAN turn to their local bank and credit union for help in keeping their doors open following this crisis. Now, more than ever, we need to do EVERYTHING that we can to give our mom and pop businesses and our non-profits access to every tool available to help them weather this crisis and rebuild afterwards.
I ask for your support on both proposals.
Introduced as HB2508
|Description:||COVID-19 Banking on Pennsylvania Small Businesses Act|
Introduced as HB2507
|Description:||COVID-19 Banking on Pennsylvania Non-Profits Act|