The Community Development Partnership and more than 100 small business owners from Outer and Lower Cape establishments this week urged state Sen. Julian Cyr, and state representatives Sarah Peake and Tim Whelan to support a state response for small businesses devastated by the coronavirus pandemic.
The businesses are calling for an Economic Relief and Recovery Program as quickly as possible to address the urgent and unmet needs of the small business community. The signatories of the letter include small business owners and community leaders who are very concerned about how the region’s small businesses are being impacted by the coronavirus pandemic.
“These businesses are doing everything they can to save their businesses and families from economic ruin – a situation that has nothing to do with their skills as owners but is entirely due to the public health necessity to close their businesses,” said Jay Coburn, CEO of the Community Development Partnership.
The letter calls for an immediate and robust state response and points to the inadequacies of federal programs in meeting the needs of small businesses, particularly those that only open seasonally.
The letter asks the state officials to support the following recommendations for programs and policies that should be part of the state’s Economic Relief and Recovery Program:
- $10 million in funding to support community-based organizations that deliver technical assistance and coaching to small businesses;
- $30 Million in emergency relief grants to help businesses cover rent, mortgages and other fixed costs;
- $35 million to Community Development Financial Institutions to help them offer grants, zero/low interest loans, loan deferments and other assistance to small businesses;
- $75 million to Massachusetts Growth Capital Corporation for a revolving loan fund to help businesses unable to access SBA financing;
- A statewide Small Business Assistance Task Force charged with ensuring the effective delivery of support to small businesses during the economic shutdown and through the recovery.
According to the letter, “All we ask is the support from our state government to help accelerate our economic recovery and to ensure that the benefits of that recovery are shared equitably and fairly across our Commonwealth.”
Clicker here to read the letter.
The Community Development Partnership leads the Lower Cape in building a diverse year-round community of people who can afford to live, work and thrive here.
To find out more information about this organization, go to www.capecdp.org.