News / Statements

Statement From Los Angeles Area Chamber Of Commerce President & CEO Maria S. Salinas On The Passage Of The $484 Billion Relief Program Supplementing The Original CARES Act


LOS ANGELES, CA - April 24, 2020 - "I'd like to commend the White House and Congress for moving forward so quickly on a bipartisan effort to replenish to original CARES Act relief package with an additional $484 billion which includes an additional $310 billion in funding for the Paycheck Protection Program (PPP), $60 billion of which is reserved for community banks," said Los Angeles Area Chamber of Commerce President & CEO Maria S. Salinas. "With so many businesses in our region still hurting from this crisis and were unable to access funds in the first relief package, we need to ensure that all small businesses are provided equal access to this next round of funds. Also, we need to ensure that lending institutions prioritize economic relief resources for small businesses, the underbanked and entrepreneurs who were waiting in line with completed loan applications. Access to these funds are critical for our economy and they must be extended equitably to every small business, especially those who may not have had a prior traditional banking relationship."

 

About Los Angeles Area Chamber of Commerce

The Los Angeles Area Chamber of Commerce represents the interests of business in the Los Angeles region. The Chamber’s mission is to design and advance opportunities and solutions for a thriving regional economy that is inclusive and globally competitive. Founded in 1888, the Chamber is the oldest and largest business association in the region. Its member companies work together to promote a prosperous economy and quality of life in the Los Angeles region.

For more information, visit www.lachamber.com or contact Shannon Smith at (213) 580-7532