BOSTON — Senator Ed Markey (D-Mass.) is pushing for more funding for small businesses affected by the economic crisis caused by the global COVID-19 pandemic.
Markey, a member of the Senate Small Business Committee, released a statement on Thursday asking for immediate additional funding to help keep small businesses afloat during the crisis.
“I’ve held numerous conference calls with hundreds of small businesses across Massachusetts that tell me that they’ve been in business for decades but it could all end in a matter of weeks without more economic relief,” said Markey. “Congress must ensure that small businesses get the money that they and their workers desperately need."
The Small Business Association has run out of money for emergency relief loans and as Congress is deadlocked over passing more funding, many businesses continue to struggle.
Many small business owners tell Boston 25 News they still haven’t received their already approved loans from weeks ago.
“At this time I’m hearing especially from women and minority-owned businesses that they are not getting the same access to relief as others,” said Markey. “We cannot afford to allow a system of inequality to perpetuate itself over and over again. We need to make sure this interim relief package provides relief to those who need it most, not just those with the best connections. There must be fixes to make sure the Paycheck Protection Program works better for the truly small businesses that it was designed for, including businesses in our underserved communities that are the strength of our local economies.”
Massachusetts is home to approximately 669,000 small businesses alone.
“I am also hearing from local elected leaders that say if they don’t get help now from the federal government, they are going to have to start laying off teachers. We cannot allow this to happen,” Markey went on to say. “Nor can we leave our hospitals, community health centers, and other health facilities that are doing God’s work right now to go bankrupt. That’s why the Democrats interim relief package proposal also includes $150 billion to help state and local governments, as well as $100 billion for health officials get the medical equipment and resources they need to test and treat individuals suffering from the coronavirus.”
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