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From the desk of the executive director: coronavirus upheaval threatens small businesses

The economic crisis brought on by COVID-19 threatens the long-term prosperity of small businesses in our communities. The initial government action falls short of what our communities need.

The CARES Act, signed into law on March 27, 2020, included $500 billion for relief to big corporations and $377 billion for relief to small businesses.

COVID-19 pandemic displays importance of Medicaid expansion

Major crises often expose the weaknesses that have been in our system for a long time. 

Before the COVID-19 pandemic began putting substantial stress on the health care system, it was already under pressure. Hospitals and other medical facilities across the country have faced budget shortfalls, and the costs of health insurance and health care have been increasing significantly for years. This leaves uninsured individuals who cannot afford medical care out of pocket waiting until pain is unbearable before heading to the emergency room.

Small businesses: PPP funds are exhausted, now what?

As of Thursday, April 16, the U.S. Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) had reached the maximum loan limit authorized by Congress, just 14 days after small businesses were first able to apply.

The program was created as part of the CARES Act, signed into law on March 27, 2020, which included $377 billion in relief to small businesses, with $350 billion of that allocated to the PPP.

Congress is debating a proposal to add $250 billion to the program. Action could come as soon as next week.

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