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April 16, 2020 – More than 34 associations representing Michigan’s business community and financial institutions sent a joint letter to Michigan’s Congressional delegation today urging them to work swiftly to provide additional funding for the Paycheck Protection Program (PPP).

The groups are asking Michigan’s U.S. Senators and Representatives to work swiftly to provide additional funding for this program, as the PPP funding Congress allocated in late March was exhausted last week.

The complete letter:

To the Members of Michigan’s Congressional Delegation:

Michigan’s financial institutions and business community urge you to work swiftly to provide additional funding for the Paycheck Protection Program (PPP).

In just under two weeks, the PPP has provided an economic lifeline to over one million small businesses across the country and has allowed these small businesses to remain viable – and maintain their workforces – during the COVID-19 pandemic. Unfortunately, as of April 16, the PPP Funds allocated were exhausted. In Michigan, over 25,000 loans were approved with excess of $8.5 billion in approved dollars.

While we understand there are other ideas on the table and a possible “Phase Four” deal coming together, this matter cannot wait.  We urge swift congressional action, including program enhancements and additional funding so the business community and financial institutions can continue to distribute these desperately needed dollars to small businesses, which form the economic core of our communities.

Sincerely,

ABC of Michigan

Ann Arbor/Ypsilanti Regional Chamber

Bay Area Chamber of Commerce

Baraga County EDC

Birmingham Bloomfield Chamber

Chamber of Commerce – Grand Haven, Spring Lake, Ferrysburg

Community Bankers of Michigan

Detroit Regional Chamber

Dickinson Area Economic Development Alliance

Flint & Genesee Chamber of Commerce

Grand Rapids Chamber

Lake Superior Community Partnership

Lansing Regional Chamber of Commerce

Macomb County Chamber

Manistee Area Chamber of Commerce

Michigan Bankers Association

Michigan Chamber of Commerce

Michigan Credit Union League & Affiliates

Michigan Economic Developers Association

Michigan Farm Bureau

Michigan Manufacturers Association

Michigan Restaurant and Lodging Association

Michigan Retailers Association

Michigan West Coast Chamber of Commerce

Midland Business Alliance

Muskegon Lakeshore Chamber

Northern Michigan Chamber Alliance

Petoskey Regional Chamber of Commerce

Rochester Regional Chamber

Saginaw County Chamber of Commerce

Shiawassee Economic Development Partnership

Shiawassee Regional Chamber of Commerce

Small Business Association of Michigan

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