{"id":15597,"date":"2020-04-15T09:51:52","date_gmt":"2020-04-15T14:51:52","guid":{"rendered":"https:\/\/theamericangenius.com\/housing\/?p=15597"},"modified":"2020-04-15T10:38:53","modified_gmt":"2020-04-15T15:38:53","slug":"nar-pushes-politicians-for-more-ppp-ppl-funding-beyond-cares","status":"publish","type":"post","link":"https:\/\/theamericangenius.com\/housing\/board-associations\/nar-pushes-politicians-for-more-ppp-ppl-funding-beyond-cares\/","title":{"rendered":"NAR pushes politicians for more PPP, EIDL funding"},"content":{"rendered":"<p>Congress approved the Coronavirus Aid, Relief and Economic Security (CARES) Act at the end of March, giving the American public and businesses much needed aid. Two weeks later, as this is being written, many people have already received their $1,200\/person stimulus. <a href=\"https:\/\/www.forbes.com\/sites\/sarahhansen\/2020\/04\/10\/most-small-businesses-applied-to-the-paycheck-protection-program-and-most-are-still-waiting-for-the-money\/#52717ab254fb\" rel=\"noopener noreferrer\" target=\"_blank\">Forbes<\/a> estimates that over 70% of small businesses have applied for an emergency loan under the CARES Act\u2019s Paycheck Protection Program (PPP). <\/p>\n<p>Although payouts are lagging, there is concern that the money will run out. Congress appropriated $349 billion for PPP loans, and another $10 billion for the SBA Economic Injury Disaster Loan (EDIL). High demand is straining the resources of the SBA, which is the agency responsible for administrating the loan programs. <\/p>\n<p>Will the CARES Act be enough? <\/p>\n<p>Given the demand, the National Association of REALTORS\u00ae (NAR) is urging Congress to \u201c<em>to provide additional funding for the PPP and EIDL programs in future COVID-19 response legislation, ensuring the need for these loans is met as this crisis continues<\/em>.\u201d According to a letter sent by Vince Malta, 2020 President of NAR, there are \u201clegitimate concerns that necessary funding will quickly become depleted.\u201d<\/p>\n<p>In addition to the high demand for loans, SBA lenders don\u2019t have clarity from the Treasury Department and the SBA on how to process the loans. Given that many banks are operating without full staffing teams, the system is being taxed. The NAR is also asking Congress to \u201c<em>clarify implementation to resolve issues with added limits and requirements that are not in accord with legislative intent<\/em>.\u201d <\/p>\n<p>For more information about PPP, EDIL and other coronavirus funding options for small businesses, the SBA offers Coronavirus Relief Options <a href=\"https:\/\/www.sba.gov\/funding-programs\/loans\/coronavirus-relief-options\" rel=\"noopener noreferrer\" target=\"_blank\">here<\/a>. The SBA is offering loan relief for some SBA loans and additional relief for <a href=\"https:\/\/www.sba.gov\/funding-programs\/loans\/coronavirus-relief-options\/sba-debt-relief\" rel=\"noopener noreferrer\" target=\"_blank\">disaster loans<\/a>. There are added resources for small businesses on this <a href=\"https:\/\/www.sba.gov\/page\/coronavirus-covid-19-small-business-guidance-loan-resources\" rel=\"noopener noreferrer\" target=\"_blank\">page<\/a>.<\/p>\n<p>We have also <a href=\"https:\/\/theamericangenius.com\/business-news\/austin-community-has-power-in-resources\/\" rel=\"noopener noreferrer\" target=\"_blank\">covered<\/a> many <a href=\"https:\/\/theamericangenius.com\/finance\/in-texas-even-some-self-employed-folks-can-get-covid-19-relief-benefits\/\" rel=\"noopener noreferrer\" target=\"_blank\">resources<\/a> <a href=\"https:\/\/theamericangenius.com\/finance\/cash-flow-pandemic\/\" rel=\"noopener noreferrer\" target=\"_blank\">as well<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(REAL ESTATE ASSOCIATIONS) While COVID-19 is hanging around, you may need some help. The NAR has your back with the CARES act to ensure you can keep what&#8217;s yours up and running.<\/p>\n","protected":false},"author":337267,"featured_media":15598,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"wds_primary_category":0,"footnotes":"","jetpack_post_was_ever_published":false,"_links_to":"","_links_to_target":""},"categories":[92],"tags":[263,1929,1234],"class_list":["post-15597","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-board-associations","tag-nar","tag-real-estate-associations","tag-real-estate-news"],"jetpack_featured_media_url":"https:\/\/theamericangenius.com\/housing\/wp-content\/uploads\/sites\/2\/2020\/04\/reading-4620776_1280-1.jpg","jetpack_sharing_enabled":true,"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/15597","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/users\/337267"}],"replies":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/comments?post=15597"}],"version-history":[{"count":5,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/15597\/revisions"}],"predecessor-version":[{"id":15605,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/15597\/revisions\/15605"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/media\/15598"}],"wp:attachment":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/media?parent=15597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/categories?post=15597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/tags?post=15597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}