|Posted:||April 26, 2021 08:20 AM|
|From:||Representative Melissa L. Shusterman|
|To:||All House members|
|Subject:||Revitalizing Mom and Pop Businesses After COVID-19|
|Like many of you, I have heard from the owners of numerous “mom and pop” businesses in my district asking for help during the COVID-19 health crisis. Forced to close their businesses or drastically change how they do business; they are struggling like everyone else. However, they are ineligible for many of the programs that have been created to assist businesses and unable to access those for which they could be eligible. These businesses are family-run, and they have invested everything they have into their businesses. Not only are their livelihoods in danger, but their family’s finances also are as well.
My legislation would create a new microloan program for businesses with five or fewer employees to provide 0% interest loans of up to $15,000 with no payments required the first year, similar to the existing COVID-19 Working Capital Access loan program. My legislation would also create a grant program to provide mom and pop businesses with grants of up to $15,000 to cover working capital expenses. These programs would be funded with a transfer from the American Rescue Plan totaling $100 million.
Together we can bolster these important businesses and ensure that they have a path forward once we recover from this pandemic. Please join with me to support this important bill.