Over 60 community development, civil rights, and small business groups are urging swift extension of the Paycheck Protection Program by Congress. The extension should not preclude any necessary SBA rulemaking authority. The letter also flags the continued need to make the recent change for Schedule C filers retroactive.
Small Business

There are more than 26 million small businesses in America and 96% of those businesses have fewer than ten employees. The majority of minority and women owned businesses are among these smallest of the small businesses. CRL works to ensure fair treatment and fair lending practices to small business owners who want to start or grow their businesses and strengthen their communities and ensures that regulations do not exacerbate pre-existing inequities in the small business space.
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On March 11, 2021, Ashley Harrington testified before the House Financial Services Committee. Her written testimony as well as her oral remarks are available for download. Watch her opening remarks and the entire hearing:
100 organizations supporting African American, Latino and immigrant-owned businesses across the country, joined in this letter to request that changes be immediately made to the Paycheck Protection Program (PPP) to increase meaningful access for sole proprietors, independent contractors, and self-employed individuals. While the Economic Aid Act addressed many of the impediments to access for business owners of color, barriers remain. Of urgent concern is the continued exclusion of microbusinesses, many owned by people of color in rural and urban communities alike, that cannot access the amount...
It is a truism that small businesses are a critical engine of economic opportunity and growth. This is especially true for communities of color: businesses owned by people of color account for more than 8.7 million jobs at a total annual payroll of $280 billion, and these businesses generate $1.3 trillion in revenue. It is also a truism that for small businesses to thrive and grow into larger enterprises they need to be able to access capital. There is now overwhelming evidence that this is far more difficult for businesses owned by persons of color than it is for white-owned businesses. For...
On June 17, 2020, Ashley Harrington testified before the House Small Business Committee. This written testimony focuses on: Presenting an overview of the disproportionate economic impacts of the COVID-19 health crisis. Discussing issues with the structure and implementation of the PPP and how they served to limit access for the smallest businesses and businesses owned by people of color. Highlighting the challenges posed by the current requirements to access PPP forgiveness. Providing policy recommendations to ensure 1) the remaining PPP funds reach the smallest businesses and businesses owned...
The Paycheck Protection Program (PPP) is a revenue replacement program designed to sustain small business jobs during the ongoing public health and economic crisis. The effect of the crisis on small businesses has been profound—over half of small businesses said the crisis has had a large negative effect on their businesses and 74% of small businesses said they have had a decrease in operating revenues. Temporary closings have impacted 41.5% of small businesses, and 11.5% of small businesses said they had missed a loan payment since the beginning of the crisis. These impacts were far worse for...
CRL's comment to the Small Business Administration on the April 15 Interim Final Rule implementing the Paycheck Protection Program focuses on two key challenges with the PPP to date: The Paycheck Protection Program continues to be disadvantageous to smaller businesses, and businesses without employees. PPP loans can be forgiven if the business is able to use the funds for eligible expenses within eight weeks of receiving the loan. This requirement makes it challenging, particularly for very small businesses, to ensure loans are forgiven rather than converted into long-term debt. The PPP fee...
The Small Business Administration Paycheck Protection Program (PPP) has failed to fairly serve businesses owned by people of color, causing spill-over harms throughout communities of color, states, and regions. Businesses owned by people color are a substantial source of income and employment—accounting for more than 8.7 million jobs at total annual payroll of $280 billion, and $1.3 trillion in revenue-yet many were excluded from the first round of funding in the PPP. The scarcity of funding relative to the demand strongly favored relatively well-connected, well-resourced businesses with...
From the letter to Secretary Mnuchin : The undersigned civil rights, faith, and community development organizations write to seek that you direct the Small Business Administration (SBA) to designate that Community Financial institutions (CFIs) receive one-third of the $30 billion set aside for three groups of lenders—CFIs, small insured depository institutions, and credit unions—pursuant to H.R. 266, the Paycheck Protection Program and Health Care Enhancement Act. Of the three groups of lenders, only CFIs aim specifically at serving communities of color. Congress included them in the $30...