The latest coronavirus relief package proposed by House Democrats would allow more newspapers to apply for Small Business Administration loans under the Paycheck Protection Program, the News Media Alliance reports. One section would let chain-owned papers apply as individual, independent entities, falling under the 500-employees for the forgivable loans, which are, in effect, grants.
More than two-thirds of U.S. newspapers are chain-owned; among community newspapers, the latest available figure is 62 percent.
The alliance urged members to "share your own personal stories outlining what your newspaper has been doing to serve your community during the covid-19 crisis: explain how the crisis has negatively impacted the newspaper’s financial position; threatens the livelihood of your employees; and jeopardizes your ability to continue to provide news and information in your community."
More than two-thirds of U.S. newspapers are chain-owned; among community newspapers, the latest available figure is 62 percent.
The alliance urged members to "share your own personal stories outlining what your newspaper has been doing to serve your community during the covid-19 crisis: explain how the crisis has negatively impacted the newspaper’s financial position; threatens the livelihood of your employees; and jeopardizes your ability to continue to provide news and information in your community."
from The Rural Blog https://ift.tt/2y3pQyi Democrats' new relief bill would allow chain-owned papers to apply individually for forgivable paycheck-protection loans - Entrepreneur Generations
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