Small Business News

| Community Impact Newspaper

According to John Arensmeyer, CEO of the national small business advocacy group Small Business Majority, one of every four small businesses in its network reported receiving a lower amount than requested; he said the data is a "far cry" from an accurate representation of the program.


"Serious questions remain about whether PPP funds were equitably distributed to minority-owned businesses, and there is an alarming rate of small-dollar loans," Arensmeyer said.

| Fortune

John Arensmeyer, founder and CEO of the Small Business Majority, described the HEALS Act's PPP framework as “simply a starting point” that is “far and away from where it needs to be to ensure Main Street can recover.”

| Government Executive

Small Business Majority Founder and CEO John Arensmeyer said the Senate Republicans’ coronavirus relief package unveiled on Monday evening is a “starting point” for small businesses. He said the requirements to qualify for the second round of loans are “too burdensome” and the government will need to do more “to ensure this next round of [loans] does not favor the well-connected over true small businesses again” and “women- and minority-owned businesses are not shut out of additional funding.”

| Santa Cruz Sentinel

When my Paycheck Protection Program (PPP) loan arrived, the forgiveness terms were so strict. I feared the consequences of not following the rules, and I worked hard to follow them. Unfortunately, my eight-week spending period was up when Congress eased the program’s rules through the Paycheck Protection Program Flexibility Act (PPFA), and I was left at a huge disadvantage.

| Lufkin Daily News

“The program was structured to take advantage of existing banking relationships that favored established businesses,” John Arensmeyer, the CEO of the advocacy group Small Business Majority told The Associated Press. “It was not designed for very small businesses.”

| Community Impact

According to John Arensmeyer, CEO of the national small business advocacy group Small Business Majority, one of every four small businesses in its network reported receiving a lower amount than requested; he said the data is a "far cry" from an accurate representation of the program.

| Responsible Business Lending Coalition

The Responsible Business Lending Coalition (RBLC) is a network of nonprofit and for-profit lenders, investors, and small business advocates that share a commitment to innovation in small business lending and serious concerns about the rise of irresponsible small business lending. The coalition created the Small Business Borrowers' Bill of Rights, the first cross-sector consensus on the rights that small business owners deserve and what financing providers, brokers and lead generators can do to uphold those rights.

| Capital Gazette

Small businesses like mine that received Paycheck Protection Program loans early had to bend over backward to meet strict loan forgiveness guidelines. Now, we deserve a chance to get less restricted funding that can be used in a way we really need.

| Wall Street Journal

The Paycheck Protection Program helped small businesses keep paying their workers during this economic crisis. Now, many of those businesses have spent those funds but are still struggling. WSJ's Amara Omeokwe explains why that's forcing many small businesses to lay off workers.

| Representative Jimmy Gomez

The State PLAN Act has been endorsed by the following groups: A Better Balance; American Sustainable Business Council; The Arc of the United States; Black Women’s Roundtable; California Work & Family Coalition; Caring Across Generations; Center for Law and Social Policy; Center for Popular Democracy; Citizen Action of New York; Economic Opportunity Institute (WA); Economic Progress Institute (RI); Family Values @ Work; Jobs with Justice; Labor Project for Working Families; Main Street Alliance; MomsRising; National Partnership for Women & Families; New Jersey Citizen Action; New Jer

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