PPP Loan Information

Correction: July 20, 2020

Dear CODA Member,

I made a mistake (those that know me surely are not surprised)! In trying to consolidate information from several articles into yesterday’s Larry’s Letter about the PPP change, I incorrectly interpreted the info and said the change in the proposal was for a 24 week pay period. That is incorrect.

The proposal is for industries (like ours) that have been hardest hit and applied early, to make a one-time change in the amount of your loan. It is NOT for covering a 24 week pay period.

Sorry for any confusion.


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Dear CODA Member,

It seems strange to be able to have time to send out a Larry’s Letter during what should be a busy time of the summer for us. Although many of us are staying busier than expected even with no campers in camp, some of you are busy holding camp and I hope you can take a couple minutes to read this information and follow up on what could be a big game changer for the whole camping community.

Many camps scrambled and rushed to apply for the PPP loans that were offered earlier this year and hopefully those efforts paid off in you receiving the loan to help out. We all know that a 2 month coverage of payroll is helpful but it’s not the cure all when its THOSE TWO months that you make your 12 month income. Thankfully, congress extended the payback and usage time from 8 weeks to 24 weeks and again, that is helpful, but not a cure all.

As camps were diligent and promptly filled out our paperwork, it paid off in receiving the initial loan for 8 weeks of payroll (75%) and utility (25%) coverage. However, on June 3, 2020 congress extended the covered period for loan forgiveness from 8 weeks to 24 weeks. This provided greater flexibility for borrowers to qualify for loan forgiveness.

While the extension is helpful, what the camping industry needs is to be able to reapply for the payroll loan amount to be extended for the full 24 weeks instead of the initial 8 week amount. Congressman Kevin Hern of Oklahoma is requesting a rule change to allow a single increase amount loan modification for businesses that applied for only 8 weeks on the initial application.

Please click on the link below and fill out ACA’s call to action to send your support to your congress representative to co-sign this request. We need our representatives in Washington to hear our united voices and allow those of us that applied for 8 weeks of help to change the amount requested to 24 weeks. This change would be impactful for industries like ours that rely on making our yearly income during 2 months of the year.

Please feel free to share this link with any other camps that could benefit from this change. The more they hear, the more they’ll listen.

Call to Action

SUMMARY OF PAYCHECK PROTECTION PROGRAM FLEXIBILITY ACT OF 2020 (H.R. 7010) (Passed By The House On 5/28/20 & Senate on 6/3/20)

Key Provisions: Effective As If Included In The CARES Act Except For Minimum Maturity Of 5 Years –

  1. Extend 8-Week Period To 24-Weeks Or Until 12/31/20, Whichever Is Earlier.
  2. Increase 25% Limitation On Nonpayroll Expenses Qualifying For PPP Loan Forgiveness To 40%.
  3. Expand Safe-Harbors – Have Until December 31 Rather Than June 30 to Rehire Employees And/Or Increase Salary Or Wages To Avoid Reduction Of Costs Because Of A Reduction In Employee’s Pay Or Reduction In FTEs.
  4. Require Minimum Loan Maturity Of 5-Years, Effective For Loans Made On Or After Date Of Enactment. However, Lenders And Borrowers Can Agree To Extend Maturity For Earlier Loans To 5 years (Only Provision Not Retroactive).
  5. Allow Employers To Defer 6.2% OASDI Taxes Even If Receive PPP Loan Forgiveness.
  6. Allow PPP Loans To Be Made Through December 31, 2020 Rather Than June 30, 2020.
  7. Payments Of Interest And Principal Delayed Generally Until Payment Of Forgiveness Amount To Lender By SBA, Or If Borrower Fails To File Form 3508 Within 10 Months From The End Of The 24- Week Period, Payments Must Begin Within 10 Months From The End Of The 24-Week Period.
  8. Forgiveness Determined Without Regard To Proportional Reduction In FTEs Where Borrower Documents – 1) Unable To Rehire Individuals Who Were Employees On 2/15/20 or Similarly Qualified Employees On Or Before 12/31/20; Or 2) Unable To Return To Same Level Of Business Activity As Before 2/15/20 Because Of Requirements Of HHS, CDC, OSHA, From 3/1/20 Thru 12/31/20 Because Of Sanitation Standards, Social Distancing, Or Other COVID-19 Related Worker Or Customer Safety Requirement.

On a quick side note, for those of us that have cabins that may be shut down for several months (especially where you have high humidity). Be sure to open some avenues of air to move through the cabins to help prevent mold or mildew forming during this uncharacteristically closed cabin time.

Also, whether you have the water to your cabins turned on or off, if they are not used for an extended period of time, the water in the P trap of every sink, shower, and toilet will eventually evaporate and open up the seal it makes to prevent the back flow of the septic smell from getting into your buildings. Be sure to go around and turn on some water for a minute or two to keep water in the trap and stop the smell from getting into your facilities.

Whether you are open or closed this summer, it is a stressful time for all of us. Hopefully you will have time to follow up on the link to contact your representative and help all of our camps get some much needed relief with the additional change to the loan amount.

If you’re open or closed, stay safe, keep your head up and have the best summer you can. We’re all in this together and plan to be for many more summers to come!

Take care and God Bless,


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