Nearly 200 franchise brands are calling on Congress to expand access to the Paycheck Protection Program (PPP) on behalf of their franchise owners while negotiations are underway over a revenue reduction threshold in the next coronavirus relief package.
The Senate Republicans’ proposed bill, released last week, included a provision that would limit the loans to businesses that have lost at least 50 percent of their revenue compared to a previous year’s quarter.
The brands, including Coca-Cola, UPS, and Dunkin’, signed a letter to congressional leadership organized by the International Franchise Association (IFA) on Thursday calling for the threshold to be lowered.