For Immediate Release
American Land Title Association Thanks Congress for Passing COVID-19 Stimulus Package
Washington, DC, December 22, 2020 — The American Land Title Association (ALTA), the national trade association of the land title insurance industry, thanks Congress for their leadership in coming together to pass this much-needed round of relief and stimulus to help struggling Americans during the ongoing COVID-19 pandemic. This package will also go a long way to supporting small businesses by providing continued liquidity options through the Paycheck Protection Program (PPP). Additionally, streamlining the PPP loan forgiveness process and allowing deductibility for expenses paid for with PPP proceeds for these hard-hit businesses will save them billions of dollars and hours of paperwork, allowing them to focus on serving customers and keeping employees safe.
ALTA strongly advocated alongside its industry partners for inclusion of these provisions, highlighting another advocacy victory alongside many others to close out 2020. PPP funding for ALTA members and the broader title industry, as essential businesses, has been critical in allowing them to continue to serve American consumers at an important time. Data released by the Treasury Department this past Summer highlighted that more than 5,100 title and settlement companies received funds from the Paycheck Protection Program, saving over 51,000 industry jobs, with 81% of loans received by the industry under $150,000.
Contact: Megan Hernandez
Office: 202-261-0315
Email: [email protected]