|The House and Senate are currently negotiating additional funding in response to the COVID-19 pandemic. While community associations are included in the Small Business Administration Economic Injury Disaster Loans, they are not included in the PPP, which potentially offers greater access to financial support than other loan programs. CAI is concerned that community association defaults may rise concurrent with mortgage default payments, imposing unsustainable cashflow constraints on associations that will limit retention of employees and contractors and substantially impair delivery of essential services to owners. Funding from the PPP could help community associations facing cashflow constraints. |
Here’s how you can help:
Email your Members of the U.S. House of Representatives & Senators asking for community associations to be included in the Paycheck Protection Program.
Send your community’s story, and the financial implications of COVID-19, to email@example.com. CAI will use these stories in their advocacy efforts to make the case for community associations.
Tell the US Congress to please include community associations in the PPP by going to –> https://p2a.co/j9crgA1?
Stay safe and be well. For more information about state and federal government actions impacting community associations and COVID-19, visit www.caionline.org/govcovid19.