On behalf of the attractions industry, IAAPA – together with 20 associations – has written to Congress urging changes to the Paycheck Protection Program so that it can “help meet the needs of small businesses deeply affected during the COVID-19 crisis.”
While the association noted the CARES Act as a critical first step in providing relief, they added: “The program in its current form will not adequately be able to prevent the permanent closure of small businesses in the attractions industry.”
“The attractions industry is comprised of small businesses around the country, many that are family-owned and operated,” said Hal McEvoy, president and CEO of IAAPA. “Today those businesses are facing prolonged revenue losses, and uncertainty about their future. The Paycheck Protection Program is one way Congress can help preserve thousands of jobs and provide critical assistance to these businesses during this uncertain time.”
IAAPA has recommended extending the duration of the program through the end of 2020, increasing borrowing limits, expanding the list of covered expenses and extending the loan forgiveness period.