U.S. Senator Joni Ernst (R-IA), a member of the Senate Small Business Committee, is echoing the calls for additional federal support for small businesses in Iowa and across the country. The Paycheck Protection Program, which was created and funded through the Phase 3 relief package Congress passed recently, is currently providing loan support to small businesses across the country. Ernst is urging the Senate to secure additional funding to ensure this emergency relief program can continue providing support for small businesses.
“Iowa’s small businesses are the backbone of our state’s economy, and as we face this health and economic crisis, we absolutely must do all we can to ensure they are getting the support they so desperately need,” said Senator Joni Ernst. “I’ve been on the phone with hundreds of local employers and business owners from across the state hearing about their needs and concerns during these challenging times. We have a new loan program in place and resources are available, but we need to move swiftly to ensure the money keeps flowing and our businesses can stay afloat amidst this pandemic.”
Senator Ernst continues to be in constant communication with Iowans from every corner and county of the state to ensure folks are receiving the support they need, including the state’s families, small business owners, health care workers, and more. Last week she spoke with Iowans – including business owners – in the Quad Cities, Siouxland, and Dubuque areas, and this week she continues to speak with small business owners, including Iowans in Cedar Rapids.
As a member of the Senate Small Business Committee, Ernst fought hard to ensure small businesses were a priority in the Phase 3 relief package. Highlighted below are a number of the emergency relief measures Ernst successfully included in the bipartisan Phase 3 package that help support Iowa’s small businesses:
- Protecting for workers and small businesses by allowing local banks and credit unions to provide federally-backed loans for small businesses to keep their employees on payroll and to pay bills; loans can be forgiven if they maintain payroll.
- Expanding loan access to child care providers, non-profits, and businesses with less than 500 employees.