NAR Statement to Senate Small Business Committee Regarding CARES Act Title I Implementation Hearing
Issue Date: June 10, 2020
116th Congress
Senate Committee on Small Business and Entrepreneurship
NAR submitted a statement for the record to the Senate Small Business and Entrepreneurship Committee for their hearing entitled "Implementation
of Title I of the CARES Act. NAR’s membership is comprised of many small business owners and independent contractors, and small businesses make up a large portion of NAR’s commercial practitioner clientele. The creation of the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) advance grants have been crucial sources of relief for those impacted. We are encouraged by the recent passage of the “PPP Flexibility Act,” which improves the PPP loans by giving greater flexibility to recipients in how they can use the funds.