May 15 - ASTA is responding to the U.S. Small Business Administration’s (SBA) requests for comments on the Paycheck Protection Program (PPP), the centerpiece of the CARES Act.

While the program has provided a critical financial lifeline to those of ASTA’s member companies who have successfully been able to apply since its launch on April 3, it has numerous shortcomings, some of which are within the SBA’s power to fix.

Specifically, ASTA is recommending that loan forgiveness provisions be increased from eight to at least 12 weeks; that loan terms be increased to at least five years (as opposed to the current two); and that the non-payroll forgiveness cap be increased from 25 to at least 50 percent. Read the full filing below. To view the full message, please click here.

 

 

---

More Travel News:

Department of Labor Rescinds “Blacklist” Rule
IATA Outlines Layered Approach for Industry Re-Start
This Is Why You Need A Travel Advisor For Your Post-Pandemic Vacation
Delta will add flights to keep planes no more than 60% full