Job Creators Network Releases Survey Data on Small Business Loan Program
Washington, D.C. (April 17, 2020)— Today, the Job Creators Network (JCN) released data from a poll it conducted of 667 small business owners about the Payroll Protection Program (PPP). The poll, conducted April 16-17, showed that 65 percent of respondents have applied for a PPP loan while 35 percent have not. On Thursday, the $349 billion program officially ran out of money as congressional Democrats continue to stonewall an extension.
Alfredo Ortiz, JCN President and CEO, released the following statement:
“The poll we conducted shows the popularity of PPP, with two-thirds of small business owners applying for a PPP loan. It also shows the urgent need to extend the program, with one-third of small business owners not yet participating. It’s ridiculous that Nancy Pelosi and Chuck Schumer are delaying an extension – holding it hostage to fund Democratic priorities. Thankfully, we’re starting to see cracks in the Democrats’ fissure with Kyrsten Sinema, President Obama’s SBA Administrator Karen Mills, Chuck Todd, and others saying the Democrats need to fund PPP asap. Nancy Pelosi needs to spend less time with her $12,000 freezer and get back to work. With 22 million Americans filing for unemployment in the last month—33,000 jobs lost every hour of every day—we have no time to waste.”
On Thursday, Sen. Kyrsten Sinema (D-AZ) tweeted, “The PPP program is going to run out of funding soon – the Senate should approve add’l funding by unanimous consent ASAP. Small businesses need our help to survive during this emergency.”
“Congress has to act as soon as possible,” former SBA Administrator Karen Mills told CQ Roll Call in an interview Thursday. “What I’m saying is: Number one, get the money replenished.”
Also on Thursday, MSNBC anchor Chuck Todd told Hugh Hewitt’s radio program, “I think any side that is on the side that looks like they’re holding up money, I think, is bad politics… That small business money issue is something that’s more front and center with the public than the issue of reimbursing the states. And so I think that on a perception marker here, sort of you’re short term politics, I think the Republicans have the upper hand.”
On Tuesday, JCN sent a letter to Nancy Pelosi and Chuck Schumer urging them to work with congressional Republicans and pass a PPP extension this week. To read JCN’s letter, click here.