Neguse and Gardner Secure Updated Guidance from SBA to Ensure Mom and Pop Restaurants in Gilpin County Can Access Paycheck Protection Program Loans

The updated guidance allows restaurants and taverns that also have small gaming operations to access grants and loansavailable through the CARES Act

Washington D.C.—Today, Congressman Joe Neguse and Senator Cory Gardner secured updated guidance from the Small Business Administration (SBA) to help Gilpin County access small business loans and weather the COVID-19 pandemic.

On April 3rd, Congressman Neguse and Senator Gardner wrote the SBA requesting updated guidance to ensure small taverns and restaurants in Gilpin County and throughout the country who also participate in some level of casino operations are able to access loans available under the Paycheck Protection Program.

“Gilpin County in my district has been categorized as one of the hardest hit counties in the country,” said Congressman Joe Neguse. “Ensuring that mom and pop small businesses, restaurants and taverns have access to essential relief funds is critical to ensure the entire county can recover from this public health emergency.”

“The Paycheck Protection Program is one of the most important aspects of the CARES Act, but we must ensure the program is available to everyone in Colorado in need,” said Senator Gardner. “I’ve spoken directly with businesses in Gilpin County that are frustrated by ambiguous rules standing in the way of relief. These barriers are unacceptable and I’m pleased the see the Small Business Administration listened to Congressman Neguse and I and took steps to address these problems to support more small businesses.”

The new guidance reads: “A business that is otherwise eligible for a PPP Loan is not rendered ineligible due to its receipt of legal gaming revenues, and 13 CFR 120.110(g) is inapplicable to PPP loans. Businesses that received illegal gaming revenue remain categorically ineligible. On further consideration, the Administrator, in consultation with the Secretary, believes this approach is more consistent with the policy aim of making PPP loans available to a broad segment of U.S. businesses.” See here.