South Carolina Plant Suffers Layoffs at Hands of Corporation Despite PPP Loans
A South Carolina tire factory owned by a global corporation received a substantial loan from the Small Business Administration for pandemic relief while many genuinely small businesses — especially those owned by people of color and women — were unable to access the program.
Despite the generous loan, Giti Tire furloughed all of its workers for about one month and many workers were laid off permanently, according to a new study.
Small Businesses Applaud House Passage of American Rescue Plan, Want Senate to Keep the Bill as Strong
On the House passage of the American Rescue Plan today, Main Street Alliance Government Affairs Director Didier Trinh had this to say:
“Passing the American Rescue Plan has given small businesses on their last legs hope that we can make it through this crisis. We urge swift passage, in full, by the Senate to get needed relief to those who need it most.
There are many pieces of this critical, comprehensive plan centered on public health and economic recovery that are particularly important to small businesses.
Biden Administration Announces Fix for Paycheck Protection Program that will Boost Relief for Black and Latino-Owned Businesses
The Biden Administration's updates to the PPP are a welcome recognition of the major gaps and challenges to the program. These updates will help expand access, but more is needed to support small businesses. From retroactive application of these updates, to flexible grants outside the PPP program itself we look forward to continuing to work with the Administration to center Black, brown, women-owned and our smallest business owner needs, who have been disproportionately impacted by both the crisis and least likely to receive support.