City Comptroller Scott M. Stringer asks Congress to pass RELIEF for Main Street Act for small businesses

Payment Protection Program loans have come and gone, and the majority of city small businesses never saw a cent of funding.

Comptroller Scott Stringer urged Congress on Tuesday to pass the RELIEF for Main Street Act, which would provide aid for businesses with fewer than 50 employees, many of whom were skipped over for PPP funds.

“Clearly, we must adopt a new approach moving forward, one that actually targets small businesses—not those with up to 499 employees—in the hardest-hit communities,” the comptroller wrote in a letter to Congress.

The bill would send $50 billion to cities, counties and states, which would funnel it into struggling mom-and-pop shops. Aid would be dispersed in the form of grants, loans, technical assistance and hybrid products, a broader range than the PPP offered, the comptroller said. 

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