Open Letter To Congress - Replenish the PPP Loan and EIDL Loan/Grant Programs

Dear Congress:

I am writing to you on behalf of the small businesses that are “Off of Main Street.” Due to recent unprecedented events in the United States, Congress took several decisive actions to support our national economy, thank you for the Effort. Most recently, these acts included the $350 billion earmarked for small businesses in the C.A.R.E.S. Act. Unfortunately, the Economic Injury Disaster Loan and Grant and the Paycheck Protection Program did not reach ALL of the small businesses it was intended to support. Therefore, I am seeking not only your approval of more funding, but the proper level of funding and resources for ALL small businesses to also include the appropriate level of resources to support “Off of Main Street” small businesses.

The 30 million (and growing) small businesses in the U.S., collectively, are the number one employer in the U.S.; and although I do not have a cure for COVID-19; I do know the cure for our economic crisis, which is thriving small businesses. I strongly encourage you to analyze how the funds that were made available to small businesses was distributed and I will presume you will find, what “Off of Main Street” small businesses already know, the funds were consumed by the “upper echelon” small businesses and inadequately trickled down to our local, micro, women and minority small businesses. I speaking of the “mom and pop”, “kitchen-based”, “garage-based” or “basement-based businesses. I speaking of personal services businesses or businesses with less than 10 or 25 employees’ businesses. I am speaking of the creative businesses and merchants. I am speaking of urban small businesses that serve under-served communities that find themselves in food deserts and with a lack of convenience stores that are equipped to meet their diverse community needs.

As a staunch advocate for small and diverse businesses, I seek to make sure we all are able to eat well, live well and play well; however, once again women and minority small businesses have been systematically denied equitable access to capital resources that will not only help their businesses to survive these uncertain times, but to thrive as we recover. Some of the barriers to these funding sources included, but not limited to, inconsistent education and awareness, ever-changing rules and regulations, digital divide, SBA-approved financial institutions denying the “unbankable” small businesses or small businesses they have no relationship with access, lack of consideration of cash-based small businesses, and most importantly untimely, ineffective and non-coordinate implementation of small business relief efforts. Collectively, we need to ensure that ALL small businesses not only have equal and fair access to these funding opportunities, but that we meet small businesses where they are and help to bring them along. If the Federal Government wants to help small businesses, well help them! These most recent small business relief efforts have served to increase deep seeded despondency, disenfranchisement and disengagement of the very folks we need to help our national and global economy recover.

In addition to loans, grants, debt relief, paid leave for employees and free business counseling services--small businesses need the following: 1) more programs that convert loans to grants; 2) local, state and federal tax forgiveness programs for income, property etc. for 2019 and 2020, at a minimum; 3) privately-funded debt relief; 4) more aide with all insurances and licenses; 5) the ability to “piggyback” on federal government supply contracts; 6) basic access to technology resources for micro-small businesses (due to social distancing going to the free library is not a viable option at this time); 7) consistent and reliable information and resources; and 8) more support of state and local governments.

I would like to commend the SBA and its partners such as SCORE, SBDC, WBC, MBDA, U.S. Chamber of Commerce, NMSDC and WBENC for their valiant efforts; they have assumed leadership roles of a herculean project. In addition, I am forever grateful for local and state governments swift actions and support of small businesses and their constituents.

I recognize the Goliath that America is facing; however, I am asking you Congress, are you the right David for the battle we are facing? We need the right David(s) to show up and slay COVID-19, our economic crisis and the uncertainty that has gripped our Nation. Are you the right giant slayer(s)? We need a lot less words, discussions and meetings; and more decisive actions that will infuse cash into small businesses (and consumers’ pockets) that are swiftly implemented and monitored for effectiveness.

COVID-19 and this specific economic crisis has not only shown us how vulnerable and fragile our lives and economies are; it has also, demonstrated that we are mutually dependent on one another to thrive. COVID-19 and this economic crisis has not discriminated based on political parties, the color of your skin, culture, religion, where you live or economic position—it has touched ALL of us as a Nation (and our World). Therefore, it will take ALL of us to recover. Pride and egos must take a backseat to our preservation!

I am so privilege to live in a country where each state can step up and take care of their communities; however, I am reminded that we are the United States—and the only way to recover is if we ALL stand together and rise together. I would love to get on my soapbox and preach how this nation was built on the backs of entrepreneurs and small businesses; however, I digress. 

We need ALL of our small businesses to stay in BUSINESS, because they are the game-changers and the catalysts – that will push our national and global economies back to healthy positions. Every day I ask small businesses to fight. I ask them to fight for themselves, fight for their families, fight for their communities and to fight for their businesses. I share with them that one way they can stay in the fight is to continue to, safely, operate their businesses. Because, I know it is easier to recovery from a slowdown than a shutdown.

However, today, I am asking you, Congress, to FIGHT! Fight for our Nation, Fight for our World, Fight for ALL Americans, Fight for our diverse communities, Fight for our Small Businesses, Fight for our national and global Economies, and more importantly, FIGHT for our most prized possession, the American Dream!

Thank you, in advance, for your indulgence and unwavering support.

Be Well. Be Safe. Be Encouraged. Be Blessed!

Sincerely,

Towanda L.

Proud Small and Diverse Business Advocate and Very Proud American