PRESS STATEMENT
MEDIA CONTACT:
Janelle Tassart
C: 480.215.2149
jtassart@phoenixchamber.com
FOR IMMEDIATE RELEASE:
April 23, 2020
PHOENIX – The Greater Phoenix Chamber has been advocating for stimulus funding passed through the Paycheck Protection Program and Health Care Enhancement Act. The additional funding of the Small Business Administration programs will provide vital support to Arizona businesses and employees at this time.
“On behalf of the Chamber and our members, I thank the leadership and dedication of Arizona’s Congressional Delegates,” said Todd Sanders, President and CEO of the Chamber. “During our time of crisis, our federal lawmakers have steadfastly advocated for our state and continually pressed leaders to pass relief measures that provide critical assistance to businesses and affected employees.”
The additional federal funding that passed the U.S. Senate and U.S. House of Representatives includes continued support for programs that will ensure that businesses of all sizes can stay operational through this crisis and into the anticipated economic recovery.
Specifically, the package provides $484 billion to small businesses and hospitals, providing reassurances that businesses need to keep employees on their payroll and that hospitals need to keep their doors open. Of the $484 billion in additional support, $321 billion will be allocated to the PPP loan program.
The additional federal funding will support the PPP loan program. During the two weeks that the PPP loan program was open, Arizona businesses were able to secure $4.85 billion in loans.
“The SBA programs will be critical to keeping Arizona’s thriving business community afloat,” said Mike Huckins, Vice President of Public Affairs. “Arizona is a small business state. These businesses are economic drivers for our community, and they must receive meaningful economic support during this crisis. And, more importantly, the support they receive needs to be reliable and sufficiently support them while maintaining safety guidelines to mitigate the spread of COVID-19.”
With more than 500,000 small businesses, who employ more than 1 million people, small businesses are vital to the state’s economic prosperity and future.
“Ensuring that all small businesses have the opportunity to obtain economic relief is a top priority for the Greater Phoenix Chamber,” said Sanders. “On behalf of our members, my team and I have been advocating for Arizona’s business community at every level of government. Our work doesn’t stop with additional funding. We know that more is needed, and we understand that the needs of the business community will evolve as this situation progresses.”
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About the Greater Phoenix Chamber
Representing 2,400 businesses across the Greater Phoenix region, the Greater Phoenix Chamber promotes regional prosperity by serving as a catalyst for economic vitality and strong communities. The Chamber pursues this mission by collaborating with business, political and community leaders to grow the regional talent pool, create a regional approach to economic development and drive a pro-Arizona agenda.
Follow online:
@phxchamber
@gpcpolicy
facebook.com/phxchamber
Learn more:
www.phoenixchamber.com
info@phoenixchamber.com
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