PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

SBE Council Supports Bipartisan Bill to Provide Relief and Support for Small Businesses

By at 15 December, 2020, 10:29 am

“Congress must act now to salvage what remains of our small business economy.”

For Immediate Release

Washington, D.C. – Small Business & Entrepreneurship Council (SBE Council) president and CEO Karen Kerrigan issued the following statement in response to a bipartisan bill unveiled yesterday that will provide desperately needed capital to small businesses, and make improvements to the Paycheck Protection Program (PPP):

“Local businesses are hurting, and small business owners and their employees who have survived by grinding it out over the last ten months need a lifeline to carry them through the next quarter. The Emergency Coronavirus Relief Act of 2020’ is a must-pass bill. There are no more excuses during these final days of the 116th Congress. These are make-or-break weeks for hundreds of thousands of small businesses across America. Millions of businesses have closed their doors or will be closing for good as a result of the pandemic.

“The bipartisan bill re-opens PPP and provides more flexibility, expands eligible expenses for forgiveness, allows a second draw for those businesses that have already received a loan, restores deductibility of PPP forgiven expenses, targets loans for the smallest of businesses, and provides a simplified forgiveness process for loans under $150,000.

“Congress must act now to salvage what remains of our small business economy.”

CONTACT: Karen Kerrigan, 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 for additional information. Twitter: @SBECouncil

###

 

 

News and Media Releases