Twice this week, Sec. Mnuchin and @federalreserve Chair Powell have expressed the need for additional aid for #smallbiz, including a second disbrusement of #PPP loans — even suggesting targeted aid for restaurants, hotels, and other specific industries . . .
The next #COVID19 stimulus will likely have additional aid for #smallbiz, but with additional segmentation and requirements.
- Biz with less than 20 ppl
- Restaurants & Hotels (i.e. Sector72)
- #MinorityOwned & Rural Biz
Each will likely have a specific carve out in the bill . .
Specific to @federalreserve’s #MainStreetLending programs, we may see modifications on eligibility, personal guarantees, and lender requirements to help unclog this funding channel for #smallbiz and “larger” #SMBs . . .
Other initiatives like Section 1112 #subsides for existing @SBA loans, #EIDL & Advances, and payment deferrals from the #CARESAct have been largely absent from public statements on the renewed #stimulus negotiations, so any incorporation of these is unclear . . .
Two foreboding topics unaddressed thus far by lawmakers are the potential strain on SBA’s Lending Programs from widespread loan defaults and #smallbiz bankruptcies if the #COVID19 disaster continues unhindered and a #stimulus package is unrealized.
@HouseSmallBiz
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