The Natural Products Association (NPA) today said the bipartisan economic stimulus package passed by Congress and expected to be signed by President Trump contains a host of provisions that will help the industry, including:
• $1 billion for the Defense Production Act to bolster domestic supply chains, allowing industry to increase production of personal protective equipment (PPE), ventilators, and other urgently necessary medical supplies.
• $17 billion for Small Business Administration (SBA) to cover six months of payments for small businesses with existing SBA loans.
• $10 billion for emergency grants of up to $10,000 for immediate relief for operating costs.
• $562 million to ensure the SBA has the resources to provide Economic Injury Disaster Loans (EIDL) to businesses that need relief
• Rent, mortgage and utility costs are now eligible for SBA loan forgiveness:
“This is much needed relief for thousands of small and large businesses who make up America’s natural products industry. They have demonstrated how critical they are to our country and our fellow citizens throughout this crisis, and this powerful combination of financial assistance and investment will help keep America strong,” said Daniel Fabricant, PhD, president and CEO of the NPA.
For more information, visit www.npanational.org/covid19-resources/.