Sen. Gary Peters Visits Traverse City to Meet Beneficiary of Paycheck Protection Program
Sen. Peters helped pass the legislation which made the PPP possible for businesses who needed a safety net through the quarantine.
TentCraft got the PPP in secondary rounds of the program and helped keep 70+ workers on staff.
The TC company normally makes marketing materials, like tents, for businesses and major events like concerts, sports and festivals. When many were canceled, their efforts shifted to making sanitary tents and COVID-19 testing tents for hospitals around the U.S.
Around 120,000 loans were made to help keep more than a million jobs in the state.
Peters says the PPP has been crucial but more support needs to be distributed.
“We need to do more. We’re going to be looking at additional COVID-19 packages in the U.S. senate over the next few weeks and I think we need to provide more flexibility to our small businesses to use this money to keep their operations going,” said Senator Peters.
The Small Business Administration has another $130 billion on the table for the extended PPP program.