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April 14, 2020 Immediate Action Needed - Urge Federal Reserve for Forgivable Loan for Nonprofits

Attention Families and Supporters,

On Friday, April 10, the Treasury and Federal Reserve announced the Mid-Size Loan Program, for nonprofit and for-profits with 500-10,000 employees through the Main Street Business Lending Program, which would include organizations like People Inc.

As it stands currently, this program is a loan, which is not forgivable. The Federal Reserve is currently accepting comments and recommendations. The deadline to comment is THIS Thursday, April 16. 

As People Inc. is providing essential services during the crisis, we have incurred highly unusual increased costs in staffing, PPE, and other critical services. Since we are not eligible for other Federal relief programs such as the Payroll Protection Program (PPP) due to our size and due to the fact that we must remain fully operational, we are asking families of those we support and our management team, to request that the Mid-Size Loan Program have provisions to convert to a forgivable loan for nonprofits, such as People Inc., that face losses due to COVID-19. 

We encourage you as a vital member of the People Inc. family to comment to urge that this loan be forgivable for nonprofits by going to the Federal Reserve website as soon as possible. If you would prefer to email your comments, please send them to: regs.comments@federalreserve.gov and include "Main Street Lending" in the subject line of the message. Your concerns must be received either online or by email before the end of business on April 16.

A sample comment for you to use (1,500 character maximum):

In support of the 4,000 employees of a regional non-profit health and human services agency that provides programs and services to nearly 10,000 people with intellectual and developmental disabilities, special needs, their families and older adults throughout numerous counties in Western New York and the Greater Rochester region, I am writing today to inform you that People Inc. is fully engaged in dealing with the COVID-19 crisis. They must ensure that more than 150 community-based homes and services for people with disabilities remain as safe as possible and are staffed 24/7. The vulnerable people that depend on People Inc. deserve no less. However, because they are providing essential services during the crisis, People Inc. has incurred highly unusual increased costs in staffing, PPE, and cleaning services.

Since People Inc. is not eligible for the Payroll Protection Program (PPP) due to their size and the fact that they must remain fully operational, we request that the Mid-Size Loan Program have provisions to convert to a forgivable loan for nonprofits that face staggering losses due to COVID-19. This would grant them the same protections as PPP.

Thank you in advance for your support of direct care staff, the people they support and People Inc.

Western New York 1219 North Forest Road | P.O. Box 9033 | Williamsville, New York 14231 | Phone: 716.817.7400 | Toll Free NY 1.888.7PEOPLE | Fax: 716.634.3889

Rochester 1860 Buffalo Road | Rochester, NY 14624 | Phone 585.441.9300 | Fax 585.441.9398

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