By NICK GOSNELL
Hutch Post
HUTCHINSON, Kan. — Kansas First District Congressman Dr. Roger Marshall is a cosponsor of a bill to allow PPP funds to be applied for a second time for some small businesses and also sets aside specific money for really small shops.
"My heart always goes out to those small businesses," Marshall said. "I think Main Street was impacted as much as anybody. We had $130 billion left from the previous CARES Act Paycheck Protection Program that was not utilized yet. Rather than going and borrowing more money from our grandchildren, I'd like to use the money we've already appropriated and really target to some small businesses with ten employees or less."
This spring, more than 50,000 loans totaling $5 billion were made to businesses in Kansas, saving approximately 500,000 jobs across the state.
"It always amazes me, when the kids need jerseys for their ball teams, they don't go to some of the other big box stores, they go to Main Street," Marshall said. "Those folks are typically the leaders in the Chamber, the leaders in the United Way and volunteers at their church and in the rotaries and all those things, as well. Main Street is a staple of small town America."
Consistent with the original Paycheck Protection Program, funding from the new round of loans must be used on payroll and authorized business-related expenses.
"Really, it's as simple as going to your bank and they can work with the Small Business Administration to do it," Marshall said. "There's a chance of forgiveness for the smaller loans under $150,000 is the hope, that those will be forgiven. If they're less than $350,000 there will be an easy form to do."
The bill was authored by Small Business Committee Ranking Member Steve Chabot of Ohio.