TULSA, OK – On Monday, Representative Kevin Hern (OK-01) hosted a virtual town hall meeting with local business owners to answer questions on the Paycheck Protection Program and Economic Injury Disaster Loans. Rep. Hern’s Legislative Director Mike Martin joined the call to discuss upcoming legislation to replenish the Paycheck Protection Program.

This was Rep. Hern’s second small business town hall helping local business owners navigate the CARES Act and other coronavirus relief.

Excerpts from the town hall are below.

Rep. Hern on Congress returning to DC:

“We should be working. Before we open the states, we need to open Congress.”

“I was ready to go back last week and the week before that. We have a number of responsibilities, one of them is being there in person to cast your votes. Unfortunately, we are at the behest of the Speaker of the House who has prevented us from going back up there and is shutting down committee hearings.”

Rep. Hern on Paycheck Protection Program and SBA Loans:

“[In order to access the loans], you can hire back the people you have let go. The purpose of the PPP was to keep people employed, so when the switch gets flipped the people that are trained and know your businesses are the ones working again and serving your customers.”

“[Compared to PPP], EIDL does not come with forgiveness for certain expenses. [EIDL loans] are direct loans through the SBA and do not go through your local banks. Yes, [EIDL] also ran out of money. The bill we are voting on this week would replenish it by $60 billion.”

“By the end of the first week, we had issued $143 billion in loans [through the Paycheck Protection Program]. The next $100 billion was lent out by the next week. The total number was 1.4 million loans approved, with another 700,000 waiting to be issued.”