Small Businesses Call on Congress to Bail Out Main Street
The COVID-19 pandemic has left America’s small businesses and entrepreneurs on the brink of collapse through no fault of our own. People are struggling, our businesses are closing or slowing operations, and many of us are being forced to lay off our hard-working employees en masse. Immediate action is needed by Congress and the Administration, which is why we call on you to provide a massive and bold stimulus package for Main Street.
Small businesses employ 47% of private sector workers in the U.S. That’s nearly 60 million individuals who depend on small businesses like ours for their livelihood and the livelihood of their families. If we’re going to rebuild our economy after this crisis, we need our elected officials to put small businesses front and center of this relief effort.
While preliminary discussions between Congress and the Administration about an economic stimulus package is a step in the right direction, the figures that are being floated just begin to scratch the surface. Some are calling for tens of billions in small business loans, which is encouraging. But we’ve reached a point where small businesses need much more than loans to reopen or keep our businesses going—we need an immediate cash infusion. Otherwise we will still struggle to keep our doors open, rehire staff, mitigate supply chain disruptions and pay off mounting debt.
We also need immediate solutions like loan forbearance for current debt, an expansion of unemployment insurance that ensures employers are not penalized for layoffs down the road, and a streamlined process for applying for U.S. Small Business Administration Disaster Relief Loans.
We urge you to act now to provide immediate cash flow assistance and other important policy solutions to support America’s small businesses. This is the only way to ensure our businesses and our economy can survive the unprecedented impacts of COVID-19.
Please add my name to the list of small business owners and advocates from across the country that have signed this letter to urge our Members of Congress to support Main Street during and after the COVID-19 pandemic.