As people continue to feel the effects of the pandemic, many small business owners are struggling to keep their businesses afloat. The US Congress is considering House Bill 3807 to help small businesses with a $42 billion relief package.
Erika Polmar, executive director of the Independent Restaurant Coalition, said the bill would be a “lifeline” for about 2,700 independent restaurants in Oregon who applied for assistance last year but didn’t get it. never received. House Bill 3807 must now pass the US Senate, and we have yet to see the relief that small businesses will actually receive.
If passed, this bill will provide much needed relief to small businesses across the country. As Polmar said, “The future of our industry, the 216,000 jobs that restaurants and bars provide to Oregonians, is in jeopardy if we don’t replenish that fund.”
If voted, House Bill 3807 would help the Restaurant Revitalization Fund and support many other businesses impacted by the pandemic. With this bill, small business owners could apply for grants to cover expenses such as payroll, rent and utilities, allowing them to avoid getting adverse loans to keep their business going.
That would be a massive relief for many small businesses struggling to stay open during the pandemic. And although many of them are busy again, they are now facing serious inflation problems.
“All of those costs have skyrocketed. So what you may have seen happen in 2019 as a really great banner night is barely making ends meet,” Polmar said.
Dwayne Thomas, the chairman of the Live Events Coalition, commented on the bill saying: “We’re just in debt to the hilt trying to stay open and relevant because now we’re going back to work. We’re going back to work there in the middle of a labor shortage, amidst all sorts of supply chain issues, and we’re getting back to work pretty quickly.”
He also said the $13 billion would be allocated to different companies and split into three rounds. The first round of relief will go to those who have lost 80% or more of their income over the past two years.