Some newspapers applying for the SBA’s PPP forgivable loan program using the affiliation waiver have experienced issues applying through their lenders. The News Media Alliance has been in contact with the SBA about this issue and we are offering assistance.
The News Media Alliance applauds Congress for approving another round of stimulus legislation, and for including an affiliation waiver that will allow previously ineligible news publishers to apply for the Small Business Administration (SBA) PPP loans as individual, independent entities.
The News Media Alliance today sent recommendations to President-Elect Joseph Biden and Vice President-Elect Kamala Harris’s transition team outlining policy positions on regulations and existing laws that deter investment and limit growth in the news media industry.
The News Media Alliance commends Senators Ben Cardin (D-MD), Jeanne Shaheen (D-NH), Chuck Schumer (D-NY), and Chris Coons (D-DE) for introducing the “Heroes Small Business Lifeline Act” that provides a Small Business Administration (SBA) affiliation waiver that would allow more news publishers to apply for SBA loans under the Paycheck Protection Program (PPP)
Today, a House version of the “Local News and Emergency Information Act of 2020” was introduced by Chairman David Cicilline (D-RI) and Ranking Member F. James Sensenbrenner (WI-05) that offers legislative text around a Small Business Administration affiliation waiver that would allow more news publishers to apply for SBA loans under the Paycheck Protection Program.
Today, the bipartisan “Local News and Emergency Information Act” was introduced in the Senate by Senators Maria Cantwell (D-WA), John Boozman (R-AR), Chuck Schumer (D-NY), Joni Ernst (R-IA) and Amy Klobuchar (D-MN), that offers legislative text around a Small Business Administration affiliation waiver for news publishers.
The Alliance is pleased to report that the latest stimulus package, introduced by U.S. Speaker of the House Nancy Pelosi, includes support for local news in the form of an affiliation waiver allowing more news publishers to apply for Small Business Administration loans under the Paycheck Protection Program.
The Alliance has been working over the last six weeks to enhance the ability of newspapers to get recognition and relief during the COVID-19 pandemic – making sure that newspapers are recognized as “essential” businesses; fighting restrictions that would have excluded certain newspapers under the original CARES Act; and advocating for a delay in pension payments. We have continued to work over the last couple of weeks to expand the SBA loan program to more newspaper companies and to encourage the federal government to immediately direct current spending on advertising to local media outlets.
