For many of us who are self employed the access to the PPP funds is limited as we don't have a big enough voice with our banks. It's one thing to pass this legislation but it's another to actually receive funds.
We are usually companies with one or 2 employees and limiting the amount we can receive to 2.5 months of pay capped at $100,000 or 3.5 months is a hard pill to swallow.
In my case my business is shut down because it relies on other businesses' expansion which won't happen much even in 2021 as Michigan shutdowns have crippled our businesses' ability to expand.
I have had to dig deep into personal savings to pay my mortgage. I sold everything I could to stay afloat. I don't even have a car anymore. I'm limited to trying to conduct business on the phone or Zoom.
The first time we did the PPP I was shut out of the first round and had to wait for Congress to add funds so we could reapply. Our bankers are taking care of their bigger small businesses. How can I compete for their attention against companies with 300 employees for the meager assistance?
I emailed Gov. Gretchen Whitmer and her team. They just quoted me statistics with no help — just a thanks for closing your business and your clients' business for the greater good.
The trickle down effect of these shutdowns is more than what they are calculating and they do not care. They lie and hide the actual statistics so they can do what they want. Their motivation is unknown to me. I would like to see our politicians give up their salaries until every last one of our businesses are allowed to open. Maybe if they feel the pain they will understand.
Also tell our banks to start with the businesses with $250,000 and fewer people so the funds don't run out again this time around.
Keith Rogers
Restaurant Development Advisors
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December 30, 2020 at 11:13PM
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Letter to the editor: Many small businesses don't have a big enough voice with banks - Crain's Detroit Business
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