Small Business Majority Issues Statement on Small Business Provisions in Senate HEALS Act
Washington, DC – Small Business Majority Founder and CEO, John Arensmeyer, issued the following statement after Senate Republicans released their next COVID-19 economic relief package for small business.
“Senate Leadership’s relief plan for small business is simply a starting point. While important provisions that we have been pushing for are included--like PPP forgiveness for loans under $150,000 and the ability for struggling small businesses to take a second PPP loan--the plan is far and away from where it needs to be to ensure Main Street can recover. Namely, the requirements to qualify for a second PPP loan are too burdensome; more reforms will need to be made to ensure this next round of PPP does not favor the well-connected over true small businesses again; and special emphasis needs to be placed on ensuring women- and minority-owned businesses are not shut out of additional funding. Lawmakers should have found themselves at the negotiating table two months ago. Meanwhile, America’s small businesses have been in a state of flux trying to weather this crisis. We encourage swift action to make improvements to this plan.”
About Small Business Majority
Small Business Majority was founded and is run by small business owners to ensure America’s entrepreneurs are a key part of a thriving and inclusive economy. We actively engage our network of more than 65,000 small business owners in support of public policy solutions and deliver information and resources to entrepreneurs that promote small business growth. Our extensive scientific polling, focus groups and economic research help us educate and inform policymakers, the media and other stakeholders about key issues impacting small businesses and freelancers. Learn more about us on our website and follow us on Twitter, Facebook and Instagram.