Federal COVID-19 Stimulus Relief

SIA is working to ensure that our members receive adequate financial support from the federal government during this difficult time

Businesses across America are in the midst of one of the most challenging economic downturns in history, and our industry is no different. Winter 2019/2020 was one of the best winter seasons we can remember, with record participation at ski resorts and retail sales to match.

But over a weekend in March 2020, ski resorts closed and our industry has been on-hold ever since. Our retailers and manufacturers were unexpectedly forced to lay off workers and dramatically downsize in hopes of making it through the summer, and bridge to the fall, the start of our critically-important sales season.

SIA is working to ensure that our members receive adequate financial support from the federal government during this difficult time.

THe RESTART ACT

We support Senator Michael Bennet’s and Senator Todd Young’s RESTART Act, which has bipartisan support and recognizes the current challenges and specific needs of the most vulnerable small and medium-sized businesses. At its core, this program is designed to provide small and medium-sized businesses with liquidity to get their businesses up and running again, and ensure that they receive loan forgiveness to help fill in the gap caused by revenue declines.

Key principles:

  • Specifially targeted to businesses with less than 500 employees
  • Federally guaranteed loan to cover 6 months of payroll, benefits, and fixed operating expenses
  • The hardest-hit businesses should be eligible for at least partial loan forgiveness, based on the revenue losses suffered by the business in 2020 with the remainder to be repaid over 7 years. No interest payments are due in the first year, and no principal payments are due for the first two years.
  • Businesses with less than 500 employees receive most generous loan terms

Call Your Congresspeople Today

With winter at our doorstep, it’s important that the federal government prioritize longer-term relief to small and mid-sized businesses, the backbone of our $76 billion winter outdoor industry. We cannot afford to let temporary job losses turn into permanent ones.

At this time, it’s important for all of us to take-action by contacting our Congressional leaders, asking them to build consensus and transcend partisanship to urgently pass another assistance package that prioritizes struggling small and mid-sized businesses, and in turn, millions of Americans.

PLEASE MAKE A PHONE CALL TO YOUR CONGRESSPEOPLE, TO ASK THEM FOR THEIR URGENT SUPPORT OF A NEW STIMULUS PACKAGE.