Rep. Katko Applauds Success of PPP Program in Central New York
Over 9,000 Local Small Business PPP Loans & Nearly 200,000 Local Jobs Saved Amid COVID-19 Pandemic
SYRACUSE, NY— U.S. Rep. John Katko (NY-24) today released the following statement applauding the tremendous impact of the PPP program in Central New York. The Small Business Administration (SBA) announced this week that small businesses in NY-24 have received 9,154 loans through the SBA Paycheck Protection Program (PPP), saving nearly 200,000 local jobs.
“The Paycheck Protection Program has helped save nearly 200,000 local jobs in Central New York, with 9,154 loans delivered to small businesses across our region,” said Rep. Katko. “The PPP is working in Central New York and will remain critical as our community and economy continues to recover from the devastating impacts of the COVID-19 pandemic. In Congress, I was proud to support authorization of this program and have consistently worked across party lines to strengthen and enhance it to meet the needs of our community. Small businesses are the backbone of our regional economy, and I remain committed to working in a bipartisan manner to ensure they have the support they need to not only survive but thrive.”
Since the PPP was authorized by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, bipartisan legislation Rep. Katko supported in the House, the program has delivered vital assistance to small businesses across Central New York. It has helped employers keep their doors open and their workers on the payroll amid harsh economic conditions created by the COVID-19 pandemic. Recognizing the importance of the PPP, Rep. Katko has consistently worked across party lines to strengthen and enhance the program. After the PPP exhausted its funds, Rep. Katko called on Congress to replenish it, and voted to pass the Paycheck Protection Program and Health Care Enhancement Act, bipartisan legislation that allocated an additional $310 billion for the PPP. In April, following bipartisan advocacy, Rep. Katko also announced a significant fix to the PPP that expanded relief for seasonal businesses impacted by COVID-19. Most recently, he co-sponsored and supported passage of the Paycheck Protection Program Flexibility Act, bipartisan legislation that makes PPP loans more responsive to the needs of local small businesses.