Loans Won’t Cut It for Flailing Small Businesses

Small businesses need subsidies now—not loans—to make it to the other side of the coronavirus crisis. These firms remain central to many business sectors where low-income workers predominate. They are precisely the workers most at risk of layoffs and losing their health-care benefits, and without a financial cushion to support their households.

Fear and confusion are worsening for small-business owners, leading to record unemployment and a loss of health insurance for millions, right in the middle of a global health crisis.

The goal of policy should be to keep small businesses whole with an intact workforce and ready to operate immediately after the health crisis begins to lift.

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