July 2, 2020 — As the deadline for the Paycheck Protection Program’s small business extension drew to a close this week, Congress scrambled to approve an extension of the program to Aug. 8. Meanwhile, fishing businesses hurried to submit applications under the original deadline as new guidelines opened a door to the industry.
On Thursday, June 25, the Small Business Administration announced that the loan program, which was established as part of the CARES Act, would be expanded specifically to address a gap for the commercial fishing industry to include filings for 1099 workers.
“Extending the program to fishermen impacted by the pandemic will be a critical lifeline so they can continue to provide Americans with the safest, most sustainable seafood in the world,” said Leigh Habegger, executive director of Seafood Harvesters of America.
But the application deadline was Tuesday, June 30, giving the industry just four business days to collect paperwork and file — at the height of the summer season.