MONDAY: Carper Joined Reach Riverside to Highlight Passage of PPP Extension Act
March 29, 2021
Paycheck Protection Program Extension Act is a Victory for Delaware Small Businesses
WILMINGTON, Del. – Monday, March 29, 2021, U.S. Senator Tom Carper (D-Del.), joined Logan Herring, CEO of Reach Riverside, to discuss the Paycheck Protection Program Extension Act, which passed the U.S. Senate last week and is now headed to President Biden’s desk for his signature. Reach Riverside received vital PPP funds to continue their work improving the Wilmington community.
Logan Herring, CEO of Reach Riverside discusses the Paycheck Protection Program Extension Act Monday, March. 29, 2021, at Kingswood community Center in Wilmington, DE. Photo By Saquan Stimpson
“We gave away $250 gift cards five times; once a month for every single family in the public housing of riverside, We also distributed over 400 chrome books, 15,000 meals, We signed our folks up for the census moving our count from less than 60% to over 84%. We are really proud of our efforts, but again, it goes back to the people, making sure our people are taken care of” Said Logan Herring, CEO of Reach Riverside.
Under the bipartisan PPP Extension Act of 2021, borrowers have until May 31 to submit PPP applications to participating lenders, and the Small Business Administration (SBA) can continue processing loan applications submitted on or before this date until June 30. The American Rescue Plan added $7.25 billion to the PPP, and expanded the program’s eligibility to help small nonprofits and local digital news outlets. The bill also created a $29 billion dollar fund dedicated to helping restaurants, and added $15 billion to the SBA’s Targeted Economic Injury Disaster Loan Advance program to provide relief for particularly hard-hit small businesses in low-income communities.
U.S. Senator Tom Carper (D-Del.) (CENTER) tours new onsite medical facility Monday, March. 29, 2021, at Kingswood community Center in Wilmington, DE. Photo by Saquan Stimpson
“I have to go back a few years when I was governor. We focused for eight years on raising student achievement, we focused four years on the environment, we focused four years on raising employment and we focused, really focused on how to spring through the building blocks of our society failings, that’s what we focused on. I always focus on root causes; I’m not a big believer of this is a symptom and let’s just address the symptoms; we have to go after the root causes” Said U.S. Senator Tom Carper (D-Del.).