b'LETTER FROM THE EXECUTIVE DIRECTORPVA Is in Your Corner Board, the program is intended to provide up to $600 billion in loans to small and mid-sized The U.S. passenger vessel industry, whichcompanies. The loan program is aimed at historically carries 200 million passengersbusinesses with less than 15,000 employees each year on our nations waterways andand less than $5 billion in revenues for 2019. employs thousands of workers, continuesThe minimum loan amount is $500,000 with to be nearly completely shut down becausea maximum of $25 million. of the coronavirus pandemic. Members ofWe are hopeful that additional rounds of the Passenger Vessel Association (PVA) John Groundwater emergency funding will surface in the coming Vessel and Associate alikeare strugglingweeks. Rest assured that PVA will continue its to survive. Current estimates from a surveywork to ensure the needs of PVA members, conducted by PVA forecasts economicand the contribution that our industry makes damage of between $3 and $5 billion to PVA memberto the American economy are recognized by our federal companies in the coming months if operations do notgovernment.resume. Continuing emergency financial assistance is needed now! Coronavirus Reopening Guidelines for PVA MembersPVA has developed and released a guidance document Advocating for PVA Members: PPP and EIDL entitled Reopening Guidelines: Getting the Domestic That is the message that PVA leaders and staffPassenger Vessel Industry Back Underway. This has been constantly delivering to the Administrationimportant new document was developed by the PVA and Congress about the state of our industry and itsSafety and Security Committee and uses the recommen-needs. PVA has consistently advocated for emergencydations of the Centers for Disease Control and Prevention assistance for our members through programs such(CDC) designed to limit the effects of coronavirus. as the Paycheck Protection Program (PPP) and theThe document covers:Emergency Injury Disaster Loan (EIDL) program whichMonitoring Employee and Passenger Healthwere funded by Congress through the CARES Act, areHealthy Hygiene Practicesintended to provide needed funds for small business toSocial Distancingassist in paying employees and weathering the effects of the coronavirus pandemic.Personal Protective EquipmentPVA lobbied Congress for enhancements to the PPP,Cleaning and Disinfectingrecognizing that more would be needed. Key points inNew protocols will be added to the document online the associations ongoing requests to Congress are: as new information emerges. Reopening Guidelines: Dramatically increased funding levels for emergencyGetting the Domestic Passenger Vessel Industry Back assistance programs. Underway can be accessed on the PVA web page. Extend the period for forgivable PPP payroll expenses from eight weeks to 24 weeks or more. PVA COVID 19 Web PageEliminate the arbitrary 25 percent limit on spendingA COVID-19 Response & Resources section has been on costs other than payroll for purposes of loan for- created on the front page of the PVA website to ensure giveness. that members have accurate and timely information on Specify that vessel insurance and fuel are allowablethe coronavirus. The PVA Safety and Security Committee costs for which to use PPP funds and ensure that theyhas also compiled resources geared toward the domestic are forgivable. passenger vessel industry for use by PVA members. The Authorize a U.S. passenger vessel company thatinformation is presented in two sections: operates vessels in more than one geographic area toGovernment Information about Coronavirusbe able to participate in PPP if there are fewer than 500PVA Member Information about Coronavirusemployees in each location (as is the case for hotelsThese materials can be accessed via the COVID-19 and restaurants). Response & Resources section or through the Member Extend the loan re-payment period from two to fiveResources section of the website.years or more. The Importance of CommunicationA word of thanks to all of you who have contacted Main Street Lending Program PVA to discuss your needs and give us an idea of the Another funding option for PVA members is the Main Street Lending Program. Offered by the Federal ReserveLETTER FROM THE EXECUTIVE DIRECTOR, CONTINUED ON PAGE 42MAY 2020FOGHORN 5'