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After small business administration lack of funds to supply coronavirus Relief Loans, an organization representing freelancers in the independent media is calling on lawmakers to better support the self-employed and self-employed in a resupply bill.
Union of Freelancers President Rafael Espinal and 25 independent film and media groups – including the Sundance Institute, the Tribeca Film Institute, the Producers Guild of America and the Film Independent – sent a letter to the head of the Film Independent on Tuesday. Senate majority Mitch McConnell and Treasury Secretary Steve Mnuchin calling for “replenish SBA funding for P3s [Paycheck Protection Program] loans and institute measures to ensure that freelance film and media writers can access funding. “
Since sole proprietors, freelancers and other self-employed workers were allowed to apply for PPP loans on April 10 (a week after small businesses were invited to apply), these workers had four working days to apply before. that the funds are not exhausted in April. 16. Banks said they were overwhelmed with requests, and PNC Bank warned applicants that it is likely that not all applicants will receive the funds.
Specifically, the Coalition of Independent Media Companies is calling for Congress to designate specific funds for independent contractors and self-employed workers in a bill to replenish the PPP; reserving 50 percent of loans to minority sole proprietors; requiring SBA lenders to process all inquiries they receive, regardless of previous relationship with the applicant; allow the self-employed and self-employed to apply first in the next round of applications; and require the SBA to publish information on the size of small businesses receiving loans and the number of self-employed and self-employed people receiving loans.
“Freelance media writers are excluded from critical government relief efforts,” the letter continued. “We need to quickly come up with policies that include the millions of these self-employed people who drive our cities and our country forward.”
The PPP has come under fire in recent days when publicly traded companies and large corporations like Ruth’s Chris Steak House, Shake Shack and Potbelly revealed that they had received coronavirus relief loans intended for small businesses. Shake Shack has since paid off its $ 10 million emergency loan.
President Donald Trump on Tuesday announcement that his administration and congressional leaders had come to an agreement on a bill that would replenish depleted PPP funds with $ 310 billion. The first $ 349 billion offered in SBA loans sold out in less than two weeks. The latest bill has yet to be passed by the House of Representatives and the Senate before being enacted.
“A significant number of independent media creators and documentary filmmakers operate as freelancers,” International Documentary Association executive director Simon Kilmurry said in a statement about the letter (IDA is a signatory). “We have heard from thousands of these manufacturers that their businesses have been shut down and that they have been excluded from the first round of PPP. It is imperative that any new federal assistance under the P3 prioritizes freelancers. “
Earlier this month, California Representative Adam Schiff write a letter to his state Workforce secretary calling for a faster roll-out of the Pandemic Unemployment Assistance Program, which offers up to 39 weeks of benefits and an additional payment of $ 600 per week to business owners, self-employed or independent contractors whose livelihoods have been affected by the pandemic. However, applications will not be available until April 28.
