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But above all, we need a strategy to support small businesses now, while they are closed, and also once they reopen. Offering loans will, in the end, hinder our success and add more stress to our already strained financials. Instead, we need to ensure that our businesses will be fully protected not only through this pandemic, but for any unforeseeable future disasters. We need rent abatement. We need grants that consider location (some cities are more expensive than others) and a better timeline to report losses. We need current loan payments and bills to be deferred until after businesses reopen. We need an economic stimulus for a percentage of lost sales. And we need paid leave for all hourly employees both full and part-time. This is what support would really look like.
By JILL LINDSEY
Donna Baxter
Author