Pappas Visits Forbes Petroleum Transport in Hooksett, Discusses COVID-19 Help for Small Businesses

Today Representative Chris Pappas (NH-01) visited Forbes Petroleum Transport, a small, family-owned business in Hooksett that worked with Pappas's office to apply for and receive a Paycheck Protection Program (PPP) loan and an Economic Injury Disaster Loan (EIDL) through the Small Business Administration during the COVID-19 crisis.

Forbes Petroleum Transport was one of 14,544 New Hampshire businesses across the first district that received PPP loans, saving 123,130 jobs. Thanks to the help they received Forbes did not have to lay off any employees during this crisis, despite the fact they're operating at lower capacity than they were last year. Pappas spoke with owner Bill Forbes about how he has worked to help small businesses across the district get help, how Congress is working to continue to improve these programs, and what Congress can continue to do to help small businesses moving forward.

"Without these programs we would have been out of business by the end of April. I was overwhelmed with the support I got," said Bill Forbes, Owner of Forbes Petroleum Transport. "I was never big on government help before but these programs saved me, my family, and our business."

"The Paycheck Protection Program has been a lifeline for tens of thousands of Granite State small businesses like Forbes Petroleum Transport," said Congressman Chris Pappas. "But with the PPP application window set to expire in just a couple of weeks, and no end in sight to this pandemic, small businesses need additional help. I know what it takes to run a small business, and I know that time is of the essence here. We must continue to provide support for our small business community and workers."

Congressman Pappas supported the bipartisan Coronavirus Aid, Relief, and Economic Security (CARES) Act, which established the Paycheck Protection Program. Since then, he has been relentless in his efforts to improve the program for small businesses in New Hampshire, including introducing legislation and leading calls on the Administration and Congressional Leadership to take action to support small businesses.

Pappas introduced bipartisan legislation to improve coordination between the Paycheck Protection Program and the Employee Retention Tax Credit to better support struggling businesses. He also called on the Treasury Department to ensure that the PPP was better tailored to meet the needs of Granite State businesses.

As the deadline for PPP applications was expiring, leaving billions of dollars still unclaimed, Pappas called on House leadership to bring up a vote on the application extension before the House adjourned for the 4th of July - the House did take up the bill, which was signed into law by President Trump.

Pappas also called on House leadership to improve the loan conditions of the PPP and other details of the program based on hundreds of conversations he had with Granite State small businesses. These improvements were included in the Paycheck Protection Program Flexibility Act, which Pappas advocated for and helped to pass.

Pappas has repeatedly called for greater transparency and accountability of the PPP and was part of the Congressional call which resulted in the Treasury Department reversing course and making partial PPP data publicly available.

In March, Pappas introduced the Too Small to Fail Act to authorize $350 billion in small business lending authority, zero-interest loans, direct business grants, and cash advances to support New Hampshire's Main Street economy right away. Among its provisions, the bill would make available zero-interest Economic Injury Disaster Loans (EIDL) to small businesses and nonprofits affected by the coronavirus outbreak to help keep their doors open and meet their ongoing obligations. The legislation will also allow for up to $15,000 in grants for small businesses, distributed within three days after a business or nonprofit applies for an EIDL, so that they can receive immediate relief; and empowers the Small Business Administration (SBA) to defer payments on existing federal loans.