Yet Meriwether Cider in Boise, Idaho, is on track to meet that mark, thanks in large part to Covid-related federal assistance, according to Ann Leadbetter, who owns the business with her husband and two daughters.
Small Business News
Today’s legislation is the latest push from Senators King and Daines to make bipartisan improvements to the programs designed to support America’s small businesses during this crisis. In May, they sponsored the Paycheck Protection Flexibility Act, which passed the U.S. Senate unanimously and was signed into law earlier this year. The bill made vital changes to the PPP to better support small businesses, including extending new loans over a longer period of time and allowing for added flexibility in how businesses can spend their PPP funds.
Este viernes, 20 de noviembre a las 2 p.m. PT, acompáñanos en una charla donde hablaremos de los recursos y servicios disponibles. Contamos con la participación de las organizaciones Small Business Majority, Los Ángeles Latino Chamber of Commerce y la oficina de la Concejal de la Ciudad de Los Ángeles Monica Rodriguez.
Awesta Sarkash, Small Business Majority’s government affairs manager, echoes Panameño’s calls for a comprehensive relief package that will forgive PPP loans at a certain amount, but her organization believes the government should go a step further and require the Small Business Administration to collect data that will help determine whether funds are equitably distributed.
One of the many sad truths of the pandemic is that 44% of businesses are facing closure, according to Small Business Majority. But Fiasco is among those that have found ways to reinvent themselves to stay afloat, and even hire more employees.
“As Congress continues to negotiate another round of stimulus relief, which would include relaunching PPP, these issues must be addressed to ensure the smallest and most vulnerable businesses are better served in the future,” said John Arensmeyer, chief executive of the Small Business Majority, an advocacy group.
According to August survey results conducted by the advocacy group Small Business Majority, the program appeared to reach a lower proportion of Black-owned businesses in particular. In that poll, 23% of Black business owners who did not receive PPP or Economic Injury Disaster Loans said their PPP applications were denied, compared with 9% of white business owners, 13% of Latino business owners and 9% of Asian American business owners.
With no assurance that Congress will provide more stimulus soon, many business owners wonder how much longer they can hang on.
Melanie Lichtfeld is the fourth-generation owner of Lichtfeld Plumbing, a family-run plumbing service in Madison, Wisconsin. The company first opened in 1895, but Lichtfeld worries this year might be its last unless one of two things happens: The local economy starts functioning more normally or lawmakers get money into people's hands quickly.
“As the small business community continues to navigate and fully assess the impacts of the COVID-19 pandemic, we must remember that the ACA is vital for entrepreneurs and their employees because it addresses two important issues: healthcare affordability and access," said John Arensmeyer, Founder & CEO of Small Business Majority. "Indeed, more than 5.7 million small business employees or self-employed workers are enrolled in the ACA marketplaces, and more than half of all ACA marketplace enrollees nationwide are entrepreneurs or small business employees.
John Arensmeyer, CEO of the nonprofit Small Business Majority said the ACA is seen as a life-blood to the business owners.
“They are fearful. You have small business owners coming off the worst year since the Great Recession, for some even worse. Now the prospect this core benefit for them and their families might be taken away is devastating. What we are hearing is a lot of fear and concern,” said Arensmeyer.