Remaining funds should be prioritized by employee size, need, and access to credit.
Remaining PPP funds should be prioritized by employee size, need, and access to credit.
Occurrences
Evidence
"Remaining funds should be prioritized by employee size, need, and access to credit." Tenney said her plan would redistribute recovered PPP funds to hard-hit small businesses based on need and company size.
The Treasury overview says the PPP 'prioritizes millions of Americans employed by small businesses' and that eligible borrowers are small businesses and certain nonprofits, veterans organizations, tribal businesses, self-employed individuals, and independent contractors meeting size standards.
The interim final rule states PPP eligibility for borrowers with 500 or fewer employees and says the program was intended to provide relief to America's small businesses expeditiously. It does not establish a remaining-funds priority system based on need or access to credit.
Assessments
The provided evidence shows Tenney advocated during the 2020 campaign for remaining PPP funds to be prioritized by employee size, need, and access to credit, but the federal PPP rules and Treasury implementation did not create that specific remaining-funds priority system. The program used broad small-business eligibility and size standards rather than a need/access-to-credit allocation rule. The record does not show that Tenney, in federal office, wrote, sponsored, or materially advanced legislation or executive action that delivered this outcome, nor a serious legislative/executive attempt that failed.
The promise called for remaining PPP funds to be prioritized using multiple criteria: employee size, need, and access to credit. The evidence shows PPP rules and Treasury guidance used broad eligibility and size standards for small businesses, but did not create the specific remaining-funds prioritization system Tenney proposed. The record provided also does not show Tenney made a serious legislative or executive attempt that failed, so the effort badge is not warranted.