From John Cornyn <[email protected]>
Subject COVID-19 Relief: We fought and WON to replenish the PPP
Date April 22, 2020 9:05 PM
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This has been one of the most frustrating weeks I’ve ever had in the Senate.
The Paycheck Protection Program (PPP) – a critical lifeline right now....
Dear friend,

This has been one of the most frustrating weeks I’ve ever had in the Senate.

The Paycheck Protection Program (PPP) – a critical lifeline right now for
businesses across the country – rancompletely dry. Instead of acting quickly to
replenish the fund and support themillions who desperately need this
assistance, Nancy Pelosi and Chuck Schumer blocked funding… even ignoring calls
from their fellow Democrats to stop their arrogant political games and do the
people’s work.

Well, friend, we fought the King and Queen of Coastal Elites, Chuck and Nancy,
and WON!

Yesterday, I voted for an additional $310 billion for the PPP and want to
tell you directlythat more help is on the way for small businesses!
 
The Paycheck Protection Program is:
* designed to keep small business workers employed and provide small
businesses with capital through the nation’s banks and other lending
institutions
* provides a maximum loan amount of $10 million with a fixed 1% interest rate
and maturity of two years The SBA will forgive the portion of loan proceeds
used for payroll costs and other designated operating expenses for up to eight
weeks, provided at least 75% of loan proceeds are used for payroll cost.

Visit sba.gov <[link removed]> for more information on how you can
apply for a forgivable PPP loan TODAY!   Friend… I know what a difficult time
this is. Relief like the PPP may be the difference between a mom-and-pop
restaurant laying off it’s small team of longtime servers, and those employees
continuing to draw a paycheck so they can put food on the table for their own
families.

I want you to know that I am continuing to fight for you and all Texans who,
through no fault of their own, are facing tremendous uncertainty and difficulty
right now because of COVID-19.

We’re in this together, and we’re going to get through this together.


 







 


 
 

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