PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Advocate for Entrepreneurs and Small Business on CARES Act: U.S. House Must Act Quickly

By at 26 March, 2020, 7:58 am

NEWS

For Immediate Release

Washington, D.C. – Following passage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act by the U.S. Senate (96-0) in the early morning hours of March 26, Small Business & Entrepreneurship Council (SBE Council) president & CEO Karen Kerrigan issued the following statement:

“Small businesses across America are in distress and many will be forced to close their doors for good. The relief and capital provided by the CARES Act can’t come soon enough.

“The package provides significant support for small businesses and offers various paths for relief in the form of loans or using tax credits to offset employee wages during the coronavirus crisis. The bill will help a diverse array of firms that drive the small business economy, from traditional Main Street shops, restaurants and service businesses to the self-employed and gig economy workers. Moreover, it supports small business efforts to maintain or hire back their workers, which is critical to keeping businesses on solid footing so they can ramp up once this crisis is behind us.

“Small businesses will see significant relief from the burdensome payroll tax. Improvements made to ‘economic injury disaster loans’ will help expedite the application process, and therefore the deployment of capital to small businesses.

“The House must act quickly, as every hour of every day matters to the survival of many small businesses across America who desperately need a financial lifeline during this unprecedented time.”

SBE Council’s COVID-19 Small Business Resource Center

Contact:  

Karen Kerrigan, SBE Council president & CEO
e-mail: kkerrigan@sbecouncil.org 

SBE Council is nonpartisan advocacy, research and education organization dedicated to protecting small business and promoting entrepreneurship. For 25 years, SBE Council has worked on and advanced a range of private sector and public policy initiatives to strengthen the ecosystem for strong startup activity and small business growth. Visit www.sbecouncil.org @SBECouncil

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