Opinion | Congress' small business loan program failed those who needed it most. Here's how to fix it. By lexir, Megan Niedermeyer, and Jeanette Quick of GustoHQ
We need a "whole of government" approach to small business relief, and for the Treasury to play a bigger role in providing direct relief to small businesses through grants and stimulus.
Additionally, many small businesses have other fixed expenses that are essential to their operations, but are ineligible under PPP forgiveness rules. We believe that to save small businesses, the aid provided must include payroll and employees' livelihoods first and foremost, but also extend beyond payroll needs and include coverage for other critical business costs.Finally, more direct stimulus is needed immediately.
These business owners and the millions of people they employ are fighting to access vital aid, but have yet to receive a fair shot. Megan Niedermeyer is Head of Legal & Compliance at Gusto. She has over a decade of experience helping organizations effect positive change and has provided legal counsel to companies large and small.
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