Legislation recently introduced in the state House of Representatives would provide additional financial support to small businesses impact by the COVID-19 pandemic.
The bill, authored by State Rep. Steve Malagari (D-Montgomery), would establish a grant program to assist local business owners with paying off the interest on loans taken out to save their businesses during the pandemic.
The proposed program would provide the flexibility and relief small business owners need to maintain their livelihoods once the disaster emergency declaration ends, Malagari said.
“The COVID-19 pandemic had devastating effects on small businesses throughout the commonwealth,” Malagari said. “While some were able to shift their business models to online formats, others relied on a variety of loans to survive this public health crisis. This grant program would provide business owners with the financial support they need to recover from the pandemic by paying off the interest on the loans that they used to get by. As we work on getting on the other side of this pandemic, we must stand by our local businesses and help them get back on their feet while still fueling Pennsylvania’s economy.”
Malagari is seeking co-sponsors for the bill.