Washington Retail has co-signed letters to Congress requesting financial relief for retailers whose futures have been endangered by the COVID-19 pandemic and resulting economic damage.
The first urges Congressional leadership to approve bipartisan legislation to forgive Paycheck Protection Program loans of less than $150,000 distributed at the outset of the pandemic. Small businesses are struggling to remain reopened and need help to avoid more economic damage, the letter explains.
A second letter to Senate and House leadership urges members to pass bipartisan legislation for further financial relief for small businesses. Without such an agreement, the letter warns, millions of employees will be furloughed or terminated, unemployment insurance benefits will be lost, more retailers will be in danger of closing and state and local governments will be forced to curtail critical services due to lost tax revenue.
Washington Retail notes that many retailers cannot wait months to work out a financial aid package without more stores closing.