Include Nonprofits in Paycheck Protection Program Improvements

We write to express our appreciation and strong support for the provision in the Small Business Committee portion of the pending reconciliation legislation that will, for the first time since the outset of this crisis, expand eligibility for Paycheck Protection Program (PPP) loans to certain charitable nonprofits. Specifically, we support the language that would clarify that “a nonprofit organization shall be eligible to receive a covered loan if the nonprofit organization employs not more than 500 employees per physical location of the organization.”