Senator Hassan visits Cymbidium Floral (left) and Yogasmith (right) in Exeter.
EXETER – U.S. Senator Maggie Hassan yesterday visited Cymbidium Floral and Yogasmith, which have both received funding through the Paycheck Protection Program, to discuss how the relief that Congress passed into law has helped small businesses stay afloat during the pandemic.
“I was glad to speak with Exeter small business owners about how the Paycheck Protection Program has helped them stay afloat amid this unprecedented public health and economic crisis,” Senator Hassan said. “Small businesses are the backbone of our economy, and have been especially hard-hit during this pandemic. As we begin to see the light at the end of the tunnel, I will continue to help small businesses across New Hampshire get the relief that they need to thrive.”
Congress created the Paycheck Protection Program in the CARES Act to provide forgivable loans to small businesses, and Congress has continued to strengthen and expand the program, most recently including $7.25 billion for the Paycheck Protection Program in the American Rescue Plan. The December COVID-19 relief and government funding package included bipartisan legislation introduced by Senator Hassan to allow eligible small employers to both participate in the Paycheck Protection Program and also claim the Employee Retention Tax Credit to help keep workers on payroll and pay for their health care coverage. Previously, small employers could not participate in both of these programs.