Congressional Candidate Sara Jacobs proposes small business relief plan

SAN DIEGO (KUSI) – Candidate for 53rd congressional district, Sara Jacobs, said the $310 billion newly appropriated for the Paycheck Protection Program is a good start, but it doesn’t do nearly enough.

Jacobs has proposed a relief plan to help small businesses, saying “businesses especially ones owned by women and people of color and those without long-standing relationships with banks, have been unable to receive the assistance that they need.”

She proposed the following changes to the Paycheck Protection Program:

o   Make sure any small business that is eligible for PPP receives it.
o   Designate at least $70 billion for Community Development Financial Institutions and Minority Depository Institutions
o   Allow lenders to do cash advances for their PPP loans.
o   Simplify the application process and rules

She is also advocating to:

o   Use restaurants to address food insecurity
o   Invest in child care infrastructure
o   Prioritize small businesses in government procurement
o   Set up a National Business Interruption Risk Insurance Program
o   Make a paycheck protection-like program permanent