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 – ran completely dry. Instead of acting quickly to replenish the fund and support the millions 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 directly that 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 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.

Paid for by Texans for Senator John Cornyn, Inc.

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