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Hotels call on Trump for 'desperately needed' coronavirus relief
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Major hotel chains are begging for government aid to avoid collapse during the coronavirus pandemic, which has decimated the travel industry.
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The chief executives overseeing brands including Hilton, Hyatt, Marriot, IHG and Best Western, as well as independently-owned chains, have written a letter urging President Trump to provide the needed funding by utilizing the Main Street Lending Program.
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The initiative was designed to help small and medium-sized companies get through the pandemic by providing up to $600 billion in financing.
The industry, however, says funds from the program continue to be "underutilized" as hard-hit businesses it was intended to support are unable to access it due to overly restrictive terms, according to a copy of the letter obtained by FOX Business.