Washington, DC – Today, the Alliance for Aviation Across America welcomed more than $310 billion to help small, often family-owned, aviation businesses in communities across the U.S. with further funding for the Paycheck Protection Program (PPP), contained in the Health Care Enhancement Act (H.R. 266).
President Trump signed the measure into law Apr. 24, after it was passed by Congress. Specifically, the legislation provides funding for the PPP for disaster and other emergency loans, hospitals, and coronavirus testing. In total, the bill provides $484 billion in relief.
“We thank Congress for acting quickly to secure additional relief for small businesses and their workers,” said Alliance Executive Director Selena Shilad. “There are countless maintenance and repair shops, flight schools, and other small businesses based at public-use airports across the country, which serve as a lifeline to the local economy and communities, and support critical services, agriculture and food production.”
According to SBA’s website, PPP loans are a loan designed for small businesses to keep their workers on the payroll. The SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
The SBA announced that the PPP was depleted last week, with thousands of businesses still awaiting approval for loans and fund disbursements.
General aviation and the businesses that depend on small and mid-sized airports are key economic drivers, supporting over a million jobs and $247 billion in economic activity. More information on the economic impact of general aviation can be found here.
Formed in 2007, the Alliance for Aviation Across America is a non-profit coalition of over 6,000 individuals, businesses, agricultural groups, FBO’s, airports, elected officials, charitable organizations, and leading business and aviation groups that support the interests of the general aviation community across various public policy issues.