“The Main Street Emergency Grant Program” Provides Liquidity For Businesses To Support Fixed Costs, Payroll To Help Them Stay Afloat During Crisis

U.S. Senator Chris Murphy (D-Conn.)U.S. Senators Jeff Merkley (D-Ore.) and Chris Van Hollen (D-Md.), on Friday rolled out a proposal that would provide much-needed liquidity for small and medium businesses during the economic crisis caused by COVID-19. The Main Street Emergency Grant Program would allow small businesses to apply for grants through the Treasury Department to cover fixed costs like payroll and rent. Those grants would revert to loans that would have to be paid back only if the business fails to prove it is meeting criteria under the proposal. It would also allow mid-size businesses to access to forgivable loans.

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