Congressional Candidate Sara Jacobs proposes small business relief plan

Congressional Candidate Sara Jacobs proposes small business relief plan

Aug 1st, 2020KUSI

Candidate for 53rd congressional district, Sara Jacobs, said the $310 billion newly appropriated for the Paycheck Protection Program is a good start, but it doesn’t do nearly enough.

Jacobs has proposed a relief plan to help small businesses, saying “businesses especially ones owned by women and people of color and those without long-standing relationships with banks, have been unable to receive the assistance that they need.”

She proposed the following changes to the Paycheck Protection Program:

  •  Make sure any small business that is eligible for PPP receives it.
  • Designate at least $70 billion for Community Development Financial Institutions and Minority Depository Institutions
  • Allow lenders to do cash advances for their PPP loans.
  • Simplify the application process and rules

She is also advocating to:

  • Use restaurants to address food insecurity
  • Invest in child care infrastructure
  • Prioritize small businesses in government procurement
  • Set up a National Business Interruption Risk Insurance Program
  • Make a paycheck protection-like program permanent

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