Arkansas HVACR NewsMagazine September 2020

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Small Business Forgiveness Act. This important bipartisan legislation would completely forgive all PPP loans of less than $150,000 upon the borrower’s completion of a simple, one-page forgiveness document. This would allow many ACCA members to focus their time and energy on their essential businesses instead of burdensome paperwork, while putting real money back into their pockets at the same time. We know the work ACCA members do is essential and extremely important to our way of life in this country (a point that was made clear to Congress in our letter). This is why we will continue to advocate for policies that support essential small businesses in the HVACR contracting industry. It is our way of saying thank you to all of our members who have been working tirelessly to keep our nation’s vital infrastructure viable since the onset of the pandemic. You may have seen our action alert on this legislation. If you haven’t already, please take a minute to participate and let your representatives in Congress know that you support PPP loan forgiveness for small businesses by clicking here. You can read ACCA’s letter to Congress here: ACCA_Letter_H_R__7777_and_S__41 17_PPP_Small_Business_Forgiveness_.pdf

ACCA Pushes Congress for PPP Loan Relief for Essential HVACR Small Businesses It was promoted to be simple. At least that was the way I read all the SBA information back in April on the PPP. Even the application became complicated and I think banks played a role in that as well. Regardless, many of in our industry applied for and received PPP loan assistance. As the essential business designation and the PPP, most of our members have had a very busy summer. Should also note that folks staying home increased the demand for comfort and unit replacement. Having said that, we are now at the point of loan forgiveness or repayment. The time is not short but waiting until the end could result in needless delays and frustration. ACCA is lobbying congress to reduce the complications of the loan forgiveness. It’s not that a good accountant can’t do the paperwork. It’s that it will create expense and distraction to what we do which is design and fix systems, manage employees, and comply with regulations. To the end of simplification, we have included information from ACCA on how you can support legislation that will reduce the burden on small businesses. We encourage you to read their message and follow their simply process of letting your congressman know how you feel. Today ACCA wrote Congressional leadership in support of S. 4117 and H.R. 7777, the Paycheck Protection Program

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