House bill would allow HBAs to access PPP loans

NAHB Now

At NAHB’s urging, Reps. Chris Pappas (D-N.H.), Brian Fitzpatrick (R-Pa.), Gil Cisneros (D-Calif.) and Greg Steube (R-Fla.) have introduced legislation that would allow trade associations that serve the home building industry — including the hundreds of home builder associations throughout the nation — to access small business loans under the next round of funding for the Paycheck Protection Program (PPP).

NAHB has been working diligently to ensure that as Congress develops the next economic relief package, it takes additional steps to ensure broader builder eligibility under the PPP so that land developers, multifamily property owners and state and local HBAs have access to this loan program.

The bill introduced today would allow 501(c)(6) nonprofits now experiencing their own financial challenges brought on by COVID-19 to be eligible for PPP small business loans.

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