100,000+ Jobs in Mid-Michigan Saved Through the PPP Loans, Kildee Says
FLINT—Congressman Dan Kildee (MI-05), Chief Deputy Whip of the House Democratic Caucus, today announced that the U.S. Small Business Administration’s Paycheck Protection Program (PPP) has saved over 100,000 jobs throughout the Fifth Congressional District.
Over $847 million has gone to small businesses in the district from the PPP through the CARES Act, which Congressman Kildee supported in March, according to data published by the U.S. House of Representatives Small Business Committee. Still, thousands of smaller minority-owned, rural or tribal businesses that were not included in the PPP still need support. Kildee’s bipartisan legislation, the RELIEF for Main Street Act would provide additional to support small businesses that were not included in initial rounds of PPP funding. The proposal has passed the House and is awaiting action in the U.S. Senate.
“Small businesses are the backbone of our economy and it is essential we provide them with the resources they need during the coronavirus pandemic. I am pleased that the Paycheck Protection Program helped tens of thousands of workers keep their jobs during the pandemic, but we still have much more to do to help small businesses,” Congressman Kildee said. “The Senate must act and pass the bipartisan RELIEF for Main Street Act. We must do more to help the mom-and-pop small businesses on Main Street, especially those with just a few employees.”
Kildee’s legislation, the RELIEF for Main Street Act, was included in the updated Heroes Act that passed the U.S. House of Representatives in September. It would create a $15 billion Small Business Local Relief Program to provide direct federal support to cities, counties and states in order to seed and scale local relief funds and target small businesses with 20 employees or fewer, or with 50 employees or fewer located in low-income neighborhoods. The support would be in the form of grants that would not have to be paid back.