[WASHINGTON] – Today, the National Lumber and Building Material Dealers Association (NLBMDA) issued the following statement applauding the House of Representatives for passing NLBMDA-backed legislation to immediately replenish the small business loan programs including the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loans (EIDL):
“NLBMDA is pleased to see the House act swiftly to pass additional loan funding and calls on President Trump to quickly sign this into law,” said Jonathan Paine, NLBMDA President & CEO. “LBM dealers are some of the most essential businesses in the United States and it is crucial that they have access to relief programs as this pandemic continues. Prior to funding for these programs running out, NLBMDA has been urging Congress to take this step to replenish these programs and we applaud them for their bipartisan work on behalf of America’s small businesses.”
The bill, previously passed by the Senate, will provide;
- $310 billion cash infusion for Paycheck Protection Program (PPP),
- $50 billion for Economic Injury Disaster Loans (EIDL),
- $10 billion for EIDL grants,
- $25 billion for testing, and
- $75 billion for hospitals.
NLBMDA continues to advocate on behalf of the industry to ensure LBM dealers have access to critical relief programs as the COVID-19 pandemic continues to affect the economy.