WASHINGTON — Yesterday, the National Federation of Independent Business released the latest in a series of surveys on the small business impact of COVID-19. While the Paycheck Protection Program (PPP) has helped, most respondents have used all loan funds and indicate they will need help in the future. More than half expect they will need additional financial assistance in the next year. Three in four would apply or consider applying for a second round of PPP loans. 20 percent report that they will have to close if the economy does not improve o... [...]
WASHINGTON – According to a National Federation of Independent Business (NFIB) survey released earlier this week, entrepreneurs and small business owners continue to face uncertain futures. While 17 percent of respondents are exceeding their pre-crisis sales volume, many expressed the need for more help: 22 percent of Paycheck Protection Program (PPP) borrowers anticipate layoffs in the next six months. Nearly half of respondents anticipate needing additional financial support over the next year. 44 percent of owners would apply to the PPP for ... [...]
Today, House Committee on Small Business Ranking Member Steve Chabot (R-OH) issued the following statement on the National Federation of Independent Business (NFIB) monthly jobs report for September 2020: “Despite immense challenges, our nation’s small businesses continue to recover and rebuild. According to the NFIB’s September jobs report, more are reporting that they are creating jobs and raising wages. While this news is promising, the work of Congress is not done. Too many small businesses are still struggling, especially where public heal... [...]
WASHINGTON – Today, the House Committee on Small Business Subcommittee on Investigations, Oversight, and Regulations heard from officials from the Small Business Administration (SBA) Office of the Inspector General (OIG) and the United States Government Accountability Office (GAO) on oversight reports from the SBA OIG and GAO covering the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) Program. “To combat the economic impact of the Coronavirus pandemic, this Committee has worked to create and optimize economic relief ... [...]
WASHINGTON – Today, the House Committee on Small Business heard from small business owners and other witnesses on the impact of COVID-19 on the nation’s food system. “America’s food system has been hit particularly hard: our favorite restaurants were closed; meat sections were low at grocery stores; and many essentials were sold out. …Our nation’s food system is typically geared to meet commercial demand, from restaurants, buffets, and cafeterias, more than retail demand from grocery stores. When our food demand flipped from eating out to cooki... [...]
