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House Co-Sponsorship Memoranda
House of Representatives
Session of 2021 - 2022
Regular Session
MEMORANDUM
| Posted: | March 23, 2022 12:24 PM |
|---|---|
| From: | Representative Joseph C. Hohenstein |
| To: | All House members |
| Subject: | COVID-19 Relief Statewide Small Business Assistance Program |
| In the near future I plan to introduce legislation that will re-capitalize the COVID-19 Relief Statewide Small Business Assistance Program to provide $225 million for small businesses who are still struggling financially from the pandemic. The program prioritizes historically disadvantaged businesses and communities targeted for business investment by existing programs like Main Street and Elm Street. The $225 million would help approximately 11,000 additional businesses. Through the Community Development Financial Institution (CDFI) network, the COVID Relief Statewide Small Business Assistance Program would provide grants ranging from $5,000 to $50,000 to small businesses that have been economically impacted by the pandemic. Among other things, businesses can use these grants to cover operating expenses and access technical assistance, including training and guidance to stabilize and relaunch their businesses. Additional grant dollars through the American Rescue Plan can further strengthen our small business community, ensuring these entrepreneurs thrive and realize long term success. Please join me in sponsoring this important piece of legislation to support our small businesses. |