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Retailers Welcome Legislation to Expand Small Business Pandemic Loans

The National Retail Federation welcomed a nearly $500 billion package set for a vote in the Senate that would increase funding for loans to small businesses and provide other economic aid during the coronavirus pandemic.

“Retailers continue to deal with catastrophic hardships from COVID-19 and small retailers are the hardest hit,” NRF President and CEO Matthew Shay said. “The CARES Act was an important first step but funding for the Paycheck Protection Program has already been exhausted and additional relief is essential to keeping employees of small retailers on the payroll and contributing to the economy until we can get through this challenge. This assistance is too important to be given out on a first-come, first-served basis and limited to those who were the quickest to file their applications. This measure will ensure...

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