PeopleForBikes Supports Additional Funds for Paycheck Protection Program
April 24, 2020
WASHINGTON, D.C. (April 24, 2020) — Today, the federal government injected an additional $310 billion into the Small Business Administration’s Paycheck Protection Program (PPP), supporting small businesses hit hardest by COVID-19’s economic slowdown. Small businesses are the backbone of the bicycle industry, serving their local communities, especially those who now rely on bikes for essential transportation and healthy, socially distanced recreation.
“Our mission is to ensure that every small bicycle business owner and retailer in America understands their options and the resources available to support them,” said PeopleForBikes COO Jenn Dice. “Keeping people employed during this tough time is crucial, and the Paycheck Protection Program can help.”
PeopleForBikes applauds small business and bike allies in Congress for their push to add funding into this important program. We continue to advocate for policies that protect the bike industry and support bike riding, such as an elimination of Section 301 tariffs and a robust infrastructure package that recognizes bikes as a low cost, carbon neutral transportation solution.
If you have questions about a PPP application and eligibility, please contact your lender. You can also reach out to your local Small Business Administration (SBA) office and consult with your lawyers, business insurance agents and other certified professionals. If you are a small business owner or retailer in the bicycle industry looking for helpful state and federal resources, check out the growing list on our website, including an April 7 webinar offering guidance from SBA representatives.
PeopleForBikes reminds all individuals to respect social distancing protocols while riding their bikes; stay close to home and avoid unnecessary travel; avoid risky rides that may, in the event of an accident, place an untimely burden on health care facilities; and look to local and state leaders for guidance about appropriate restrictions on recreational riding.
PeopleForBikes is making biking better for everyone by uniting millions of individuals, thousands of businesses and hundreds of communities. When people ride bikes, great things happen. Join us at PeopleForBikes.org.