In these unprecedented and uncertain times, Printing Industries of America (PIA) is committed to providing the printing community with the most up-to-date resources on the ongoing COVID-19 situation. 

As previously reported, PIA has taken a strong and public position to advocate that “print” be specifically defined in the Department of Homeland Security’s CISA (Cybersecurity and Infrastructure Security Agency) recommendations to state, local, tribal, and territorial jurisdictions and the private sector as to what constitutes essential critical infrastructure workers imperative to responding to the COVID-19 pandemic.

The guidance document–which is non-binding, but geared to avoiding a patchwork of confusing state and local orders–was originally published on March 18 and has been updated twice. Both updates have improved the status of print as essential, but it has not been made explicit. PIA is appealing directly to DHS and CISA to ensure inclusion of our industry. Such clarity is crucial now that more than 40 states (plus hundreds of localities) are under “stay at home” or “shelter in place” orders and law enforcement scrutiny of non-essential vs essential business operations is on the upswing. CISA is expected to release yet another update soon, and PIA is urging that “print” be specified as clearly as possible.

PIA has been blogging daily developments regarding the Paycheck Protection Program (SBA loans) since its rather rocky launch last Friday, April 3. The Treasury Department and Small Business Administration continue to provide updated guidance, FAQs, expanded lender lists, and additional information.

PIA has heard about frustrating experiences and is conveying feedback to Treasury and SBA, but there have also been success stories from small printers and packagers who have secured these lifeline loans. Stay informed for updated details.

A key additional development in play this week: Trump Administration officials and Senate republicans are pushing a technical update to the CARES Act to provide an additional $250 billion to fund the Paycheck Protection Program. Senate Small Business Chairman Marco Rubio (R-FL) warned over the weekend that at the current demand level, the fund could run dry by June 30. Speaker Nancy Pelosi publicly agreed and called for congressional action to authorize these additional funds.

PIA is optimistic that all parties will find a path forward to ensure that all small printing companies in the queue for these loans will be serviced.

As of April 9, the Treasury Department and Federal Reserve Board have announced new and expanded lending programs to address the impact of COVID-19 on mid-sized business, defined as businesses up to 10,000 employees. Known as the Main Street Lending Program, this initiative will complement the relief efforts already underway, such as the above-mentioned Paycheck Protection Program, plus Employee Retention Credits and Economic Impact Payments (direct taxpayer checks). Using funds appropriated by the CARES Act, Treasury will make a $75 billion equity investment in a special purpose vehicle to implement this mid-sized employer lending program. Treasury estimates this investment will enable up to $600 billion in new financing for companies with up to 10,000 employees OR $2.5 billion in 2019 annual revenues. 

Congress is also expected to draft a Phase IV legislative response (and possibly a version 3.5 stimulus package known as CARES 2) that will focus on additional economic recovery.