Representative Angie Craig Presses House Leadership to Support Small Businesses Still Struggling during COVID-19 Pandemic

WASHINGTON, D.C. — Today, U.S. Representative Angie Craig pushed Speaker of the House Nancy Pelosi and House Majority Leader Steny Hoyer to take immediate action to support small businesses in Minnesota and across the country that are still reeling from the COVID-19 pandemic. In her letter, Representative Craig noted that small businesses account for 99.9% of all firms in the United States – and more than 60% of net job creation over the past 25 years. Arguing that small businesses make up the backbone of the American economy, Craig urged for expanding and extending relief programs targeting small business, specifically the Restaurant Revitalization Fund and the Shuttered Venue Operators Grant program.

"I'm hearing from small business owners across my district every single day about the struggles they have faced over the past year and a half. Businesses that have been around for generations are at-risk of permanent closure – and newly opened businesses are still struggling to get their feet underneath them," said Representative Craig. "Congress has a duty to assist our struggling small businesses as they face continued restrictions, supply chain disruptions, reduced operating capacity, and the ongoing threat of surging COVID-19 cases.

In March, President Biden signed into law the American Rescue Plan, which included $16 billion for the Shuttered Venue Operators Grant Program and $28.6 billion for the Restaurant Revitalization Fund. However, those programs and several others were overwhelmed by demand, leaving thousands of businesses across the country without the financial support they deserve. Craig has repeatedly called for the replenishment of those funds and the extension of those programs to ensure that every struggling business can access the relief to which they are entitled.

You can find the full text of the letter

November 15, 2021

The Honorable Nancy Pelosi The Honorable Steny Hoyer
Speaker Majority Leader
U.S. House of Representatives U.S. House of Representatives
Washington, D.C. 20515 Washington, D.C. 20515

Dear Speaker Pelosi and Majority Leader Hoyer:

Thank you for your continued work on behalf of the American people. I write today to respectfully urge you to support our nation's small businesses, which are still reeling from the COVID-19 pandemic, by passing a small business rescue package in any moving legislative vehicle.

I'm hearing from small business owners across my district every single day about the struggles they have faced over the past year and a half. Businesses that have been around for generations are at-risk of permanent closure – and newly opened businesses are still struggling to get their feet underneath them. Congress has a duty to assist our struggling small businesses as they face continued restrictions, supply chain disruptions, reduced operating capacity, and the ongoing threat of surging COVID-19 cases.

Small businesses account for 99.9% of all firms in the United States. These businesses are responsible for 62% of net job creation over the last 25 years. They truly are the backbone of our economy and vital to our recovery.

Though Congress has acted several times in a bipartisan manner, and the American Rescue Plan was a lifeline to many, we cannot risk more permanent closures which will only hinder job grown and destroy local economies.

As we move forward in the days and weeks ahead, I implore Congress to help our small businesses. We quickly saw just how necessary the Restaurant Revitalization Fund (RRF) was, but recent developments have also demonstrated exactly how much more help is needed for restaurants and bars due to over-subscription. More than 177,000 establishments applied for relief from the RRF – but never received support. Legislation to replenish the RRF has strong bipartisan support in both the House and Senate.

Furthermore, we must do more to provide relief for small businesses that have been left out of prior programs. While we've enacted much needed rescue funding for a multitude of industries, there have been businesses ancillary to the Shuttered Venue Operators Grant that were unable to access these important funds. These businesses and their employees deserve our attention and support, especially as we approach the holiday season. We must be industry-neutral in our approach to relief.

Finally, as you're aware, the House passed H.R.1490, the 504 Modernization and Small Manufacturer Enhancement Act of 2021 by an overwhelming bipartisan majority over six months ago. This legislation would increase access to capital for small manufacturers by increasing the maximum loan size from $5.5 million to $6.5 million. This bill is primed for inclusion in any legislative package, and I urge its inclusion and swift passage by the Senate.

I urge you to take swift action and thank you for your consideration.

###