MOUNT PLEASANT, S.C. (WCBD) – Representative Joe Cunningham is asking his fellow lawmakers to improve the Paycheck Protection Program (PPP) to better address the needs of small businesses in the Lowcountry.
Cunningham proposed setting aside “funding specifically for the smallest businesses with the greatest need.”
Other recommendations include more congressional oversight, and “increased transparency for small business owners.”
The $3 trillion allocated by Congress in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, ran out this week, with many small business owners receiving no help.
Cunningham reasoned that while the “program has successfully extended a lifeline to over a million businesses across the country, countless more have been left behind. And unfortunately, it is the smallest and most disadvantaged businesses that have been hurt the most.”