Seeking Help for Small Businesses

August 27, 2020

Our local businesses are struggling. Today I sent a communication to Governor Lamont asking him to further help Connecticut's small businesses.

While support from the governor and the State Department of Economic and Community Development has been adequate, more help is needed now.

In the letter I wrote, "Many businesses have now exhausted their PPP and EIDL funding and have to make decisions about continuing operations with occupancy restrictions. Some business owners have been able to work with employees, landlords and creditors to reduce overhead. However, some business, like restaurants, hair salons, and early care and education centers, have equipment and other investments in their locations that make simply moving or shrinking their footprint difficult. I have heard from a number of these businesses that have said without additional state support they will not be able to stay in business."

One of my recommendations to support businesses is providing an eviction moratorium to the Executive Order the governor put in place that provides relief to residential renters. "This order would not absolve businesses of their obligations but would provide them a little breathing room during this challenging time.

The communication further reads, "Alternatively, the state could develop a program similar to the PPP or the Bridge Loan program that was launched back in March. Loans could be provided either on a forgivable basis or with extended payback terms to make sure that small businesses can afford to pay rent and stay in operation until the state is able to fully reopen.”

Here is a copy of the full letter:

 

small business letter

business letter -2