LFA quickly recognized the adverse consequences of COVID-19 and determined that they would need to be a reliable source of information for small businesses and policymakers.
July 28, 2020 Majority Leader Mitch McConnell United States Senate Washington, DC 20510 Minority Leader Chuck Schumer United States Senate Washington, DC 20510 Chairman Mike Crapo Senate Committee on Banking, Housing and Urban Development Washington, DC 20510 Ranking Member Sherrod Brown Senate Committee on Banking, Housing and Urban Development Washington, DC 20510 Re: Support for …
Local businesses are devastated and state agencies overwhelmed as people stay at home to preserve their health and apply for government assistance to maintain financial solvency. An unexpected side effect of this was a simultaneous increase in consumer complaints filed with the Consumer Finance Protection Bureau (CFPB).
San Francisco was the most intensely gentrified city in America from 2013 to 2017, a new study found. But the emergence of COVID-19 exposed deep economic and social fault lines nationwide. While a small number of cities were booming, most were not.
This week, the Senate passed the Payment Protection Program (PPP) Flexibility Act, already passed by the House in May, sending the bill to the president, who is expected to sign it into law. While the act makes necessary improvements to the PPP, more needs to be done to ensure money is going to minority and women-owned businesses and the smallest small businesses.
The government’s emergency spending to help businesses stay afloat isn’t enough to save the economy. Businesses need credit to manage day-to-day operations and to grow – and business lending from banks has dried up during the pandemic. If it doesn’t resume quickly, we’ll likely face a long and deep recession.