Petition Started By Skip on 3/19/2024

Being Sent to the Senate and House Small Business Committees.

This petition is critical because it addresses the substantial financial strain that nearly 4 million COVID EIDL borrowers, representing about 15% of U.S. small business owners, are currently facing. These businesses, which collectively contribute to nearly 44% of the nation’s GDP, are still grappling with the economic aftermath of the COVID-19 pandemic. While PPP loans offered forgivable financial assistance, EIDL loans did not, leaving them as a vital yet burdensome support for many. With around $50 billion accrued in interest and the end of the EIDL Goodwill Period leading to loan collections, the petition calls for Congress to consider bipartisan action for full or partial forgiveness of these loans. Such a step would provide immediate and significant relief to these small business owners, ensuring their survival and continued contribution to the economy.