Davids Introduces Bill to Help Small Businesses During Coronavirus

March 24, 2020
Press Release

After hearing from local small business owners about the difficulties they are facing amid the coronavirus pandemic, Representative Sharice Davids introduced legislation to increase funding available to small businesses and provide much-needed relief.  

 

The bill is part of a larger package introduced by the House Small Business Committee, which Davids sits on, aimed at providing relief for small businesses affected by the coronavirus.  

 

“I’ve heard firsthand from small business owners and chambers across the Third District about how the coronavirus is jeopardizing their businesses’ future and their own livelihoods. Small businesses are the backbone of our communities, and they need our support right now. I’m working to make sure that we provide immediate and significant relief to Main Street, and prioritize their needs in any economic package Congress puts forward,” said Davids.  

 

Davids’ legislation provides current small business investment companies (SBICs) with $100 million in additional funding to make available to businesses impacted by COVID-19. It also reauthorizes the New Markets Venture Capital program and provides $10 billion in funding for early stage and startup businesses in low-income geographic areas. 

 

In addition to this new legislation, Davids voted for a bipartisan bill to help affected small businesses by providing billions in disaster relief loans from the Small Business Administration (SBA), which is now law. She also urged the SBA to quickly grant Kansas’ request for a disaster declaration, making these loans available to small businesses across the state. Kansas received that designation earlier this week. Davids has also called for additional measures to be included in Congress’ upcoming economic package to provide small businesses with relief.