REAP Notes

 

Your View: Think small communities

They may not be big, but small businesses are having a huge impact in your rural community. Yet, when the Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law, Congress left them out.

While many businesses, such as retail, restaurants, salons and care providers, have been allowed to reopen amid new restrictions due to coronavirus concerns, small rural business owners with loans through the U.S. Department of Agriculture’s (USDA) Rural Microentrepreneur Assistance Program (RMAP) continue to face challenges, with many worried they may have to close their doors.

Rural Businesses Still Waiting for Federal COVID-19 Relief

With Congress in gridlock over future stimulus spending during the coronavirus pandemic, small businesses with loans through the Rural Microentrepreneur Assistance Program, or RMAP, still have not received any financial help.

Johnathan Hladik, policy director with the Center for Rural Affairs, said hair salons, for example, with Small Business Administration loans that got six months of loan relief are now able to open their doors for business. But businesses with RMAP loans are facing bankruptcy.