Assemblywoman Smith, California State Assemblymembers Ask California Congressional Delegation to Act on PPP Loan Extensions, Flexibility
SACRAMENTO, CA — Assemblywoman Christy Smith (D-Santa Clarita) and 23 of her California State Assembly colleagues called for the California Congressional delegation’s attention to the loan forgiveness period of the federal Paycheck Protection Program (PPP) on Friday. Currently, the loan forgiveness period sits strictly at eight weeks, which could be coming as soon as the end of the month for those who applied as soon as the funds became available.
“Small businesses are the backbone of our local economies, but many economic uncertainties are wringing them out of operation,” Assemblywoman Smith said. “PPP was a much-needed lifeline to keep many hard-working Americans afloat; however, the looming deadline will undo much of the good that has been created. I’ve spoken to many small business owners and business leaders throughout my district, and it’s clear this arbitrary and untenable timeframe adds more harm to local businesses.”
One of the small business owners and recipients of the PPP loan expressing concern about the fast-approaching deadline is Lisa Eichman, owner of Gymnastics Unlimited in Santa Clarita.
"As the owner of a gymnastics school who is unable to operate while the safer-at-home orders remain in place, we are prevented from seeing any benefit from the forgiveness features of the PPP. An extension with provisions to use the funds will be critical for us to begin planning how we can safely reopen and get back to providing much-needed activities for more than 1,200 school-age children in our community," Eichman said. "Assemblywoman Smith has been in regular contact with us and other businesses like us to ensure we have not been forgotten. We are truly grateful for her direct support of her hometown constituents."
Assemblywoman Christy Smith represents California’s 38th Assembly District, which includes the communities of Santa Clarita, Simi Valley, Agua Dulce, Castaic, Santa Susana Knolls and North San Fernando Valley.
Contact: Danni.Wang@asm.ca.gov (661) 286-1565 or (913) 449-0802