U.S. Congress Expands PPP Eligibility to Some Local Chambers of Commerce

The U.S. Congress has reached a deal on a COVID-19 relief package that expands eligibility for the Paycheck Protection Program (PPP) to some local chambers of commerce. Chambers of commerce are classified as 501(c)(6) organizations, which have been previously excluded from federal relief.

The new federal relief package will include this unique tax classification for the first time. These organizations, however, must meet certain requirements to be eligible. 501(c)(6) organizations are eligible to receive a PPP loan if:

  • They are not a professional sports league or organized for the purpose of promoting or participating in a political campaign.
  • They do not employ more than 300 employees;
  • They do not receive more than 15% of their receipts from lobbying activities;
  • Lobbying activities do not compromise more than 15% of the organization’s total activities; and
  • The cost of the lobbying activities of the organization did not exceed $1,000,000 during the most recent tax year that ended prior to February 15, 2020.

The Colorado Chamber proudly partners with more than 40 local chambers across the state. Read more about the Colorado Chamber’s local chamber partners here.