Schumer Says ‘Democrats Are Fighting For Small Businesses’ After Blocking Funding for Loan Program

It’s been 10 days since Senate Democrats blocked a $250 billion boost to the Small Business Administration’s Paycheck Protection Program. The loan program has since run out of money leaving businesses “in limbo”.

Senate Minority Leader Chuck Schumer took to Twitter earlier to state that “Democrats are fighting for small businesses.” He added they were also fighting for “hospitals and healthcare providers, and frontline workers, and state and local governments across the country.”

Democrats are fighting for small businesses, and hospitals and healthcare providers, and frontline workers, and state and local governments across the country. They need more help from the federal government, and they need it fast.

Democrats are fighting for small businesses, and hospitals and healthcare providers, and frontline workers, and state and local governments across the country. They need more help from the federal government, and they need it fast.

— Chuck Schumer (@SenSchumer) April 19, 2020

Democrat House Rep. Alma Adams said she’s heard from constituents who are suffering and have been denied PPP assistance. But she said it’s critical that minority and women-owned businesses have access to the relief.

Schumer echoed those sentiments in another tweet where he said “bigger companies are getting access” to the money instead of “minority owned businesses and businesses in more rural areas.”

Bigger companies with long-term relationships with bigger banks are getting access to the federal dollars but smaller businesses, minority owned businesses, businesses in more rural areas are not getting the dollars they need. We’re fighting to help ALL small businesses.

Bigger companies with long-term relationships with bigger banks are getting access to the federal dollars but smaller businesses, minority owned businesses, businesses in more rural areas are not getting the dollars they need.

We’re fighting to help ALL small businesses.

— Chuck Schumer (@SenSchumer) April 19, 2020

Schumer said it was worth it to make these businesses wait on CNN’s State of the Union because he believes that “the very things we Democrats have been fighting for are now going into the bill.” He’s “very hopeful we could come to an agreement tonight or early tomorrow morning,”

“I’m very hopeful we could come to an agreement tonight or early tomorrow morning,” Sen. Chuck Schumer says about talks with Treasury Secretary Steven Mnuchin to funnel more money into the Small Business Administration’s Paycheck Protection Program #CNNSOTU pic.twitter.com/3SjJscjA6x

— State of the Union (@CNNSotu) April 19, 2020