Small Business Provisions and Domestic Supply Chain Support Will Help Industry Weather Challenges Ahead
WASHINGTON – The Natural Products Association (NPA) today said the bipartisan economic stimulus package passed by Congress and expected to be signed by President Trump contains a host of provisions that will help the industry, including:
- $1 billion for the Defense Production Act to bolster domestic supply chains, allowing industry to increase production of personal protective equipment (PPE), ventilators, and other urgently necessary medical supplies.
- $17 billion for SBA to cover 6 months of payments for small businesses with existing SBA loans.
- $10 billion for emergency grants of up to $10,000 for immediate relief for operating costs.
- $562 million to ensure the Small Business Administration (SBA) has the resources to provide Economic Injury Disaster Loans (EIDL) to businesses that need relief.
- Rent, mortgage and utility costs are now eligible for SBA loan forgiveness.
- SBA Loans
- SBA Investment Capital
- SBA’s Disaster Assistance
- SBA Surety Bonds
- SBA’s Grant Opportunities
“This is much needed relief for thousands of small and large businesses who make up America’s natural products industry. They have demonstrated how critical they are to our country and our fellow citizens throughout this crisis, and this powerful combination of financial assistance and investment will help keep America strong,” said Dr. Daniel Fabricant, President and CEO of the NPA.
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Natural Products Association
The Natural Products Association (NPA) is the trade association representing the entire natural products industry. We advocate for our members who supply, manufacture and sell natural ingredients or products for consumers. The Natural Products Association promotes good manufacturing practices as part of the growth and success of the industry. Founded in 1936, NPA represents over 700 members accounting for more than 10,000 locations of retailers, manufacturers, wholesalers and distributors of natural products, including foods, dietary supplements, and health/beauty aids. Visit www.npanational.org.
