Source: United States House of Representatives – Congressman David Scott (GA-13)
Today, Congressman David Scott (GA-13) announced that he has introduced H.R. 8620, legislation allowing small business owners to make needed technology improvements under the Paycheck Protection Program (PPP). The addition of software and cloud computing upgrades to the eligible uses of PPP funds will allow small businesses to transition to curbside delivery, online ordering, and contactless payments—helping them keep their doors open and serve their customers safely during the COVID-19 public health crisis.
“Georgia has long been a leader in creating financial technology solutions that help small businesses provide improved service in today’s modern economy,” stated Rep. David Scott. “With more than half a million Georgians out of work, it is critical that Congress prioritize policies that both support small businesses and keep our citizens safe. As the public health crisis forces business owners to adjust to public safety guidelines, this legislation will provide a vital lifeline for millions of small businesses across the country.”
“ETA applauds Rep. Scott’s leadership in making it possible for small businesses to apply computer-related and software expenses to Paycheck Protection Program loans,” said Scott Talbott, Senior Vice President of the Electronic Transactions Association (ETA). “By including these types of expenses, Congress recognizes the important role of technology solutions for companies in Georgia who keep the payments industry running.”
The Paycheck Protection Program (PPP), established under the federal CARES Act, was implemented with the goal of providing small businesses with resources needed to maintain their payroll, pay for necessary expenses, and retain jobs. To date, more than 174,000 small businesses in Georgia have received over $14 billion in PPP loans.