“There are communities that by in large are not being able to tap into a commercial lending product.
Small Business News
“You have businesses that even if they were to receive funding through the Paycheck Protection Program they still would have trouble staying open because overhead costs in the Bay Area and fixed costs in the Bay Area are significantly higher than in other places.”
IAAPA jointly submitted and signed the letter with:American Hotel & Lodging Association, Asian American Hotel Owners Association, Disability:IN, Economic Innovation Group, Exhibition Services & Contractors Association, Experiential Designers + Producers Association, International Association of Exhibitions and Events, International Franchise Association, Main Street Alliance, Main Street America, National Association for the Education of Young Children, National Association of Women’s Business Owners, National Restaurant Association, National Small Business Association, Small Busine
"Most of the money has gone to much larger entities and the very small entities for the most part have been left behind," said John Arensmeyer of the Small Business Majority – an advocacy group for small companies. "We’re dealing with finite dollars," he added. "Even if more money is put into the system, we really need to prioritize very small businesses over publicly traded companies."
Last Friday, City staff coordinated and executed the staffing, transportation, and delivery of 1,100 meals to Fremont and Homestead high schools. The Fremont Union High School District was in need of meals and Lazy Dog and Pineapple Thai—both located at Main Street Cupertino—were able to meet that need by providing 550 meals each.
Hosted by the City of Cupertino in partnership with the NorCal Small Business Development Center, NorCal Small Business Majority, and Cupertino Chamber of Commerce.
As the U.S. Senate prepares to vote to add additional funding to the depleted Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL), a new scientific poll released today reveals the economic peril of California’s small businesses. Additionally, the poll shows vast support for robust, direct grant assistance and other relief measures to help small businesses stay afloat and fully recover from the crisis.
Across the state, 92 percent of small business owners say they have been harmed by COVID-19, according to an industry survey released on Tuesday. The Small Business Majority poll of 167 California businesses found that 4 in 10 have adjusted the work schedules of their entire staff and that 44 percent have already closed due to ongoing restrictions or plan to do so in the next two months.
“We're thrilled the Senators are seeking long-term grant assistance for businesses harmed by COVID-19 in his proposal for the Paycheck Security Program,” said John Arensmeyer, CEO of Small Business Majority. “This will provide a much more streamlined process that will allow businesses to continue to operate and keep people employed, and it will help the most vulnerable small businesses that have been left behind by the inefficient and underfunded Paycheck Protection Program (PPP).
Bolin is not alone. According to news reports, thousands of businesses that have applied to the program are still waiting for the funds to be released by their banks, despite the Small Business Administration’s claims that most of the money has been paid out. The SBA is overseeing the fund, but officials from the Small Business Majority, a national advocacy group for small businesses, said that even businesses that have been approved for the loans have yet to receive any money.
On the #RADIO show this week we cover how conservative leaders are trying to roll back reproductive rights while all eyes are on the pandemic; hear how you can get access to unemployment insurance and also get the latest on the direct cash payments; find out what you can do to support access to high quality, affordable childcare and how the whole system is under threat due to the coronavirus outbreak; and get the inside scoop on the resources available to small businesses and how you can help.