AGA pleased with new regulations allowing gaming companies to apply for small business loans
American Gaming Association President and CEO Bill Miller applauded the Small Business Association’s (SBA) revised regulatory guidelines that allow some gaming companies to apply for small business loans.
The SBA revised its Interim Final Rule to allow businesses that receive revenue from legal gaming eligible for a Paycheck Protection Program (PPP) loan.
SBA Administrator Jovita Carranza wrote: “On further consideration, the Administrator, in consultation with the Secretary, believes this approach is more consistent with the policy aim of making PPP loans available to a broad segment of U.S. businesses.”
Businesses that received illegal gaming revenue remain ineligible for PPP loans.
The AGA had spent weeks lobbying the SBA to allow authorized gaming companies to apply for PPP loans.
Miller said: “I’m grateful to President Trump and his administration for recognizing that commercial and tribal gaming industry employees deserve the same support available to other small businesses, and for the significant, sustained efforts of members of Congress to amplify the need for changes to the guidelines to get small gaming operators and their employees through this challenging time.”
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