A new paycheck protection program rule allows commercial fishing companies to include their crew members’ pay when they apply for the paycheck protection program.
Previously, the PPP recognized crew members as “independent” by the Internal Revenue Service. Senator Lisa Murkowski, Dan Sullivan and Congressman Don Young urged the Treasury and Small Business Administration Department to make the fix.
Murkowski said last month that previous demands left crew wages out of the equation when applying for loans.
“The PPP didn’t really take into account that so many of our businesses in Alaska are seasonal,” she said. “When you think of fishing in Bristol Bay, it is definitely a seasonal activity. This is the very definition of it.
In the announcement, she said that “enabling fishermen to get the resources they need through P3s isn’t just fair, it means these businesses so essential to Alaska have a chance to make a comeback. to beat”. Senator Sullivan called the new rule a “common sense solution.”
Individual crew members will be able to calculate up to $ 100,000 in payroll over a 12-week period.
People can apply for PPP here.