The Elmhurst Chamber of Commerce & Industry is seeking our membership’s support for proposed legislation, titled the “Local Chamber, Tourism and 501(c)(6) Protection Act of 2020,” to extend eligibility for federal Paycheck Protection Program (PPP) relief funding to chambers of commerce, business and trade associations, and fellow 501(c)(6) not-for-profit organizations.
Introduced May 6 by four bipartisan members of the United States House of Representatives, House Resolution (H.R.) 6697 would make 501(c)(6) NFPs—including chambers, business and trade associations, destination marketing organizations (DMO)—with less than 300 employees eligible for PPP through the United States Small Business Administration (SBA).
“Our Chamber is a small business in itself that serves our 540-some member customers, Elmhurst businesses at large and the Elmhurst community, and we deserve to be granted access to PPP relief funding the same as any other small business and not-for-profit organization,” stated John R. Quigley, ECCI President and CEO since 1999.
“ECCI did not close up shop when confronted by economic and health care challenges of the Coronavirus (COVID-19) Pandemic,” Quigley added. “Instead, our staff members rolled up their sleeves and went to work, diligently and safely, to assist businesses across Elmhurst in both sustaining operations financially and keeping their workforce employed.”
With a reported $130 billion of PPP funding still available from an April 24-appropriated refunding of $320 billion as part of the $484 billion “Paycheck Protection Program and Health Care Enhancement Act” (H.R. 266), no new federal monies would need to be appropriated. Only 501(c)(3) charities, 501(c)(19) veteran and Native American groups are now eligible.
The Association of Chamber of Commerce Executives (ACCE), along with the American Society of Association Executive (ASAE), had previously collected more than 3,700 signatures to support a formerly-proposed $25 billion in PPP funding for 501(c)(6) NFPs.
The U.S. Chamber of Commerce and Illinois Chamber of Commerce also have petitioned federal legislators to provide PPP funding for local chambers.
“Local chambers of commerce across the country play a vital role in assisting small businesses weathering the economic storm caused by the Coronavirus,” stated Neil Bradley, Executive Vice President at the U.S. Chamber. “Including these organizations in the Paycheck Protection Program ensures they can with this important work in the weeks and months ahead.
“We encourage (ECCI) and your members to urge your Congressional leaders to support this bill,” Bradley added.
In expectation of the passage of H.R. 6697, ECCI has already prepared a PPP application for some $47K in relief funding, which is on file with Community Bank of Elmhurst.
“While the Democratic-controlled House is expected to pass H.R. 6697 without much dissent, passage by the Republican-controlled U.S. Senate passage is not assured, especially if Senate Majority Leader Mitch McConnell (R-Kentucky) weighs-in in opposition,” stated Quigley.