Nareit supports a recently announced effort by U.S. Senators Michael Bennet (D-Colo.) and Todd Young (R-Ind.) to create a new RESTART loan program to support business continuity for the remainder of 2020. Loan forgiveness would be available under certain terms and conditions, but not for public companies.
The Bennet-Young plan also would make enhancements to the Paycheck Protection Program (PPP) to support restaurants and other deeply impacted businesses.
The RESTART Act aims to provide longer-term loans to businesses that are experiencing economic hardships due to the coronavirus pandemic.
(Contact: John Jones at firstname.lastname@example.org)