FOR IMMEDIATE RELEASE Contact: Katherine Knight Patterson
April 21, 2020 (703) 641-8142
Applauds Senate action, calls on the House to restore funding to small business loan programs as soon as possible
WASHINGTON, D.C. – AALU/GAMA CEO Marc Cadin today released the following statement urging Congress to restore funding to the Small Business Administration’s (SBA) emergency loan programs, the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) program, which were depleted last week:
“Small businesses are struggling to survive and support their employees,” said Marc Cadin, CEO of AALU/GAMA. “Many are stuck in limbo without feedback or answers on their applications. We at AALU/GAMA are inspired by our members to do everything we can to provide financial security to them, their clients, and all those in need. We thank the Senate for their action today and urge the House to move swiftly to provide additional and sufficient relief to help these businesses, which so desperately need it.”
AALU/GAMA has hosted dozens of webinars open to the public on the resources provided by Congress and President Trump to help small businesses and their employees weather the economic storm produced by COVID-19. Thousands have attended the series, and the AALU/GAMA team has responded to hundreds of individual questions. AALU/GAMA members continue to extend the reach of this valuable information to advise their clients.
Cadin continued, “The immense popularity of these programs reflects the acute need to keep businesses and our economy afloat. Most of our members are small business owners and are still waiting to hear if they will be able to keep their staff on board and establish a path forward. We are grateful for the relief Congress has provided thus far and hope to see quick action to prevent further economic damage.”
Visit the AALU/GAMA COVID-19 Action Center here.
AALU, the Association for Advanced Life Underwriting, is the leading organization of financial professionals who provide life insurance and retirement planning solutions for individuals, families, and businesses. AALU has a rich history of success with a single focus on the issues impacting life and annuity products, and the clients its members serve. Headquartered in Washington, D.C., AALU is committed to providing its members with the essential tools and services required to help grow their businesses, serve their clients, and protect the financial and retirement security of the American people.
About GAMA International
GAMA International is an independent national nonprofit organization 501(c) (6), founded more than 85 years ago. GAMA International is the only association dedicated to promoting the professional development needs and leadership skills of first-line and front-line leaders in the insurance, investment, and financial services industry.
AALU and GAMA International announced in July 2019 that they will be joining forces to create a new organization representing the financial security profession later this year.
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