ARA Petitions for Assistance for the Equipment and Event Rental Industry
The COVID-19 pandemic continues to infect virtually every aspect of business operations.
March 23, 2020 — MOLINE, IL.—The American Rental Association (ARA) is taking steps to seek federal support and funding to aid businesses in the equipment and event rental industry. In a letter that was submitted to Capitol Hill on Friday, March 20, ARA asked for $20 billion in financial aid provisions for the equipment and event rental industry be added to the financial relief bill currently being negotiated in the United States Senate.
“ARA has been in communication with Capitol Hill as well as the Administration regarding relief efforts for our industry. This letter is one example of how ARA reaches out to policy makers in support of our members. Right now, there is an overwhelming need for the federal government to aid all businesses – but, especially small businesses – in the equipment and event rental industry,” says John McClelland, ARA vice president of government affairs and chief economist.
Prior to the coronavirus (COVID-19) outbreak, the equipment and event industry was projected to exceed $60 billion in revenue in 2020.
“Like many industries, the equipment and event rental industry is being severely affected. The shelter in place directives and social distancing recommendations have caused virtually every planned event to be cancelled. These wide sweeping conditions have shuttered many event rental operations and most companies have laid off all staff as we wait on recovery measures. As states continue to tighten restrictions on business activities, it’s likely that our general tool and construction members will also be negatively impacted. It’s imperative that we take every possible measure to assist members and we’re hopeful to see some relief from our Administration,” says Tony Conant, ARA CEO.
A previous statement was sent to the Administration on March 11 requesting Small Business Administration (SBA) loan and disaster relief programs for the equipment and event rental industry.