The National Lumber and Building Materials Dealer Association (NLBMDA) has submitted a letter to the White House with a list of industry priorities as Congress negotiates the phase 4 coronavirus relief package (CARES 2).
“As the federal government considers the next phase of COVID-19 relief legislation, NLBMDA believes it is critical for Congress and the Administration to continue to provide robust support to small businesses harmed by the pandemic,” NLBMDA president and CEO Jonathan Paine said. “NLBMDA’s recommendation for Phase 4 relief focuses on short-term solutions to help lumber and building material dealers and residential construction as well as longer-term solutions that will continue the recovery in the future.”
NLBMDA’s letter details several priorities for the relief package, including a strengthened Paycheck Protection Program (PPP) with additional relief and guidance on liquidity concerns. Specifically, the letter calls for an additional $250 billion in funds for PPP loans, the deductibility of PPP loan expenses, a deadline extension of the safe harbor date for returning PPP loans to at least June 5, and the assurance that dealers have flexibility for loan forgiveness up to three months.
NLBMDA’s letter also requests dealers be allowed to receive the maximum $10,000 grant for Economic Injury Disaster Loans and for dealers to have access to the Main Street Lending Program.
The NLBMDA said it will continue its lobbying efforts over the coming weeks to ensure dealers are heard as negotiations and drafts of relief packages begin to take shape.
