Business loan

Nonprofits unsure about access to small business loans as the clock ticks

Senate Democrats removed that provision from the House before the congressman could issue an opinion. The Congressional Budget Office evidently believed that the savings would be substantial; of $7.25 billion in new PPP appropriations in the aid bill, the CBO cut its estimate of the amount spent almost in half, to $3.8 billion, in the Senate version.

Democrats said that despite the CBO’s new estimate, they weren’t aware of any major nonprofits that would be excluded from the program, and they then funneled the savings into a larger fund for restaurants and businesses. bars in the final aid program.

Smash of planned parenthood

Paul and other Republicans have said the affiliation waiver in the House bill would have made Planned Parenthood clinics eligible for loans. But Sam Lau, a spokesperson for the Planned Parenthood Federation of America, said the House provision did not target their organization, adding that Planned Parenthood affiliates “are eligible for PPP loans with or without a waiver.”

Last year, after pressure from the GOP, the Trump administration’s SBA informed some 38 Planned Parenthood affiliates who had been approved for more than $80 million in loans that they should have been banned under the rules. of affiliation. But Planned Parenthood disputed that claim, and while some local offices returned the money, many others kept it.

In a May 19, 2020 letter to Planned Parenthood of Delaware, for example, SBA officials wrote that the Planned Parenthood Federation of America clearly exercises control over its affiliates. They cited the mandates and accreditation standards for each organization in the federation’s statutes, as well as the fact that the central office lists all of its local branches on its website.