Today, Small Business Majority submitted a letter to Congressional leadership urging them to include S. 4117, the Paycheck Protection Small Business Forgiveness Act, in the next relief package. This bill would provide automatic forgiveness for all Paycheck Protection Program (PPP) loans under $150,000, while also ensuring fraud protections are in place. Loans under $150,000 represent only 26% of the PPP funds disbursed, and the overwhelming majority of these loans likely went to the most vulnerable, COVID-19 impacted businesses.
Policy Statements
Browse the full list of our regulatory comments and legislative testimony below, or filter by state or national to view our federal and state-based policy work.
Thursday, July 23, 2020 |
Tuesday, July 14, 2020 |
Small Business Majority submitted written testimony for the record for the House Committee on Financial Service's Subcommittee on Diversity and Inclusion's, "Access Denied: Challenges for Women- and Minority-Owned Businesses Accessing Capital and Financial Services" hearing. The contributions of entrepreneurs of color and women to our local and national economies cannot be overlooked.
Thursday, July 2, 2020 |
Small Business Majority submitted a letter to Senators Cramer, Menendez, Tillis and Sinema in support of the S. 4117, which would forgive all Paycheck Protection Program (PPP) loans under $150,000, ensuring small business businesses don't incur more debt during this economic crisis.
Thursday, June 18, 2020 |
On June 18, Small Business Majority called on U.S. Treasury Secretary Steven Mnuchin and Small Business Administrator Jovita Carranza to develop an oversight mechanism of the Paycheck Protection Program (PPP). In a letter sent to the Administration, Small Business Majority proposed a straightforward approach to collecting relevant borrower information, while making publicly available only the full data of the highest 15% of borrowers.
Tuesday, May 12, 2020 |
Small Business Majority filed an amicus brief today with the U.S. Supreme Court in the case of Texas v. U.S., which has challenged the constitutionality of the Affordable Care Act (ACA). The brief urges the Supreme Court to fully uphold the Affordable Care Act and outlines how the law has benefited small businesses, self-employed entrepreneurs and small business employees who previously struggled to access quality, affordable health coverage.
Wednesday, April 8, 2020 |
Amidst reports that small business owners around the country are waiting days and weeks to receive their Economic Injury Disaster Loan (EIDL) funds and that borrowers are not receiving their loan advances as required by the recent stimulus package, Small Business Majority sent a letter to the U.S. Small Business Administration demanding that they address this issue and ensure better communication and efficiency in the loan process.
Wednesday, April 8, 2020 |
Today, Small Business Majority submitted comments to the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation regarding proposed rules changes to the Community Reinvestment Act. Some of Small Business Majority's concerns include that these proposed changes would negatively impact underserved entrepreneurs in low and moderate income (LMI) communities and disincentive banks from making qualified smaller-dollar loans that are the lifeblood of small businesses.
Sunday, March 22, 2020 |
A growing number of small businesses nationwide are calling on Congress and the Administration to provide a massive and bold stimulus package for Main Street.
Sunday, March 22, 2020 |
On March 22, Small Business Majority sent a letter to Senate and House leadership calling on Congress to provide immediate grant assistance to small businessses being harmed by COVID-19.
Thursday, January 16, 2020 |
On January 15, Small Business Majority filed an amicus brief urging the U.S. Supreme Court to accept and quickly render a decision in the case of Texas v. U.S., which has challenged the constitutionality of the Affordable Care Act. This is necessary because the U.S. Court of Appeals for the Fifth Circuit recently declared the individual mandate is unconstitutional and ordered a lower court to reconsider whether the remaining components of the ACA may remain law.