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NLA Endorses Small Business Jump-Start America Act

Thursday, May 21, 2020   (0 Comments)
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Small Business Jump-Start America Act Coalition

 

 

May 21, 2020

 

The Honorable Mitch McConnell

Majority Leader

United States Senate

Washington, DC 20515

 

The Honorable Nancy Pelosi
Speaker of the House
U.S. House of Representatives
Washington, DC 20510 

 

The Honorable Chuck Schumer

Minority Leader

United States Senate

Washington, DC 20515

 

The Honorable Kevin McCarthy
Minority Leader
U.S. House of Representatives
Washington, DC 20510 

 

 

Dear Leader McConnell, Speaker Pelosi, Minority Leaders Schumer and McCarthy:


On behalf of the undersigned organizations, representing 310,000 companies (from 40 states) and 8 million jobs, we want to thank you for your support of small businesses through the Paycheck Protection Program (PPP) loans and tax relief provided through the CARES Act. We know the challenges you face in trying to manage the health risks of COVID-19 and continuing to keep the economy on track.


As you know, 47% of the jobs in the United States are created by small businesses. Our small business members are struggling to balance immediate needs with the limited resources available to them. We continue to look for solutions that allow us to keep our businesses operational, our employees working, and the supply chain moving for the American people.


We are reaching out to you today with a small business plan to jump-start the economy.


We would like to ask for your support of the Small Business Jump-Start America Act, a plan to provide long-term low interest loans to small businesses with strong track records of success, who are critical to reopening the economy, and who are best positioned to keep the supply chain moving. This plan would focus initially on critical sectors like manufacturing, resellers, and transportation. When these sectors get a jump-start, other small businesses will immediately benefit as Americans return to buying goods, eating at restaurants, and contracting with service providers.


The plan we are offering today makes sense. While the PPP loans were an important lifeline to companies, our plan helps small businesses and the economy take the next step toward recovery.

 

The details of our plan are as follows:

 

  • The goal of this Act is to build on the PPP and Main Street Lending Program. This Act would identify the immediate essential industries that are needed to jump-start the economy starting July 1, 2020. These would be small businesses that are essential to manufacturing, key product resellers, and services like ground, air, and marine transportation that are critical to moving people and supply chains. This program would be separate from the Main Street Lending Program, which is geared toward large businesses. We recommend that banks be required to equally support both Main Street and Jump-Start programs. This would help ensure small businesses receive the loans they need.This would not be run through the Small Business Administration. Instead, we suggest this be run through the Federal Reserve, like the Main Street Lending Program. This could be added under that program, just as the PPP was added to the current SBA 7(a) loan program.
    • $500 billion. (This number could be higher or lower depending on the need. Ultimately, the actual bottom line number doesn’t matter because these are loans that are not forgiven. They would just be backed by the federal government, like the PPP loans. No collateral would be required like PPP loan requirements.)
    • Businesses would need to meet the following criteria:
      ▪ Be a small business is defined as a business with no more than 1,500 employees or an annual revenue of no more than $40 million. (Larger small businesses would like to see this number increased to maximum of $150 million.)
      ▪ Be a U.S. based and owned company.
      ▪ Program would begin July 1, 2020 and run through December 31, 2021.
      ▪ Be in business for seven years prior to the COVID-19 outbreak. This shows stability and lowers the risk for default.
      ▪ Be critical to restarting the economy, and not based on “first come, first served.” This would be balanced out among the core industries for companies then to apply for. The small businesses that would be eligible to apply would fall into the following categories:
      • Manufacturing
      • Resellers
      • Critical ground, air, marine transportation companies, non-emergency medical transportation providers
      • Healthcare
      • Financial services
      • Defense industrial base
      • Chemical products
      • Hygiene products
      • Energy
      • Construction, architecture, engineering, project management, surveying, mapping
    • Max of $10 million.
    • Loan would start to be repaid after three years.
    • Repayment period is 7.5 years
    • Loan rate 2.75 – this is the rate under current SBA EIDL loans for non-profits. Loan rate cannot go higher than 3.75%, which is current rate of EIDL loans.

 

Small businesses are reporting staggering loss projections that are expected to extend well into the months ahead. Our plan gives long-term assistance to companies with soundtrack records, further ensuring these loans will be repaid. Simply put, this is an investment, not a handout.


We are ready to answer any questions you may have as you formulate a national plan to save the American economy. Thank you for your leadership during what is surely one of the most distressing moments in our nation’s history. We wish you, your colleagues, and your families the very best in the difficult months ahead.


Sincerely,

 

Organizations
The Transportation Alliance (Maryland)
Independent Office Products & Furniture Dealers Alliance (Maryland)
American Society of Civil Engineers (Virginia)
ISSA (Illinois)
Independent Suppliers Group (Indiana)
National Society of Professional Surveyors (Maryland)
Business Solutions Association (Maryland)
National Office Products Alliance (Maryland)
Office Furniture Dealers Alliance (Maryland)
National Limousine Association (New Jersey)
American Office Products Distributors (North Carolina)
Airport Ground Transportation Association (Ohio)
60 Plus Association (Virginia)
U.S. Geospacial Executives Organization (Virginia)
Geospatial Equipment and Technology Institute (Virginia)
Taxicab Paratransit Association of California (California)
Florida Taxicab Association (Florida)
Black Car Assistance Corp (New York)
Virginia Taxi Association (Virginia)
Virginia Small Business Partnership (Virginia)
New England Livery Association (New Hampshire)

 

Small Businesses
WHC Worldwide | zTrip (Alabama)
Greater Birmingham Transportation Services, LLC (Alabama)
Office Partners (Alabama)
VIP Taxi (Arizona)

Schwegman Office Supply (Arkansas)
Greater Little Rock Transportation Services, LLC (Arkansas)
IQ Business Connection (California)
Serra Yellow Cab (California)
Yellow Cab of San Francisco (California)
BC Cab Inc. (California)
California Yellow Cab (California)
Fiesta Taxi Cooperative, Inc. (California)
Gateway Global (California)
Long Beach Yellow Cab (California)
South Bay Yellow Cab (California)
San Diego Yellow Cab (California)
United Checker Cab (California)
Yellow Cab of Los Angeles (California)
Serra Yellow Cab (California)
Serra Medical Transportation (California)
Office Advantage (California)
Yellow Cab of Greater Orange County (California)
Yellow Cab of the Desert (California)
Yellow Checker Cab (California)
SilverRide, LLC (California)
Metro Transportation Planning and Solutions Group (Colorado)
WHC Worldwide | zTrip (Colorado)
M7 (Connecticut)
Ace Transportation LLC (Connecticut)
Ace Taxi Service Inc (Connecticut)
East Hartford Cab Company (Connecticut)
J. M. Rubino Transit Consulting (Florida)
Yellow Cab of Clearwater (Florida)
Yellow Cab of St Petersburg (Florida)
United Taxi, Pinellas County (Florida)
CNC Federal Supplies, LLC (Florida)
United Taxi, Pasco County (Florida)
City Cab Co. of Orlando (Florida)
Yellow Cab Tampa (Florida)
West Coast Transportation Services (Florida)
SWFL Transportation (Florida)
WHC Worldwide | zTrip (Florida)
Checker Cab Atlanta (Georgia)
Malone Office (Georgia)
Minton-Jones (Georgia)
Office Services (Georgia)
VIP Office (Georgia)
Checker Cab Co. Inc. (Georgia)
Porter’s Office Products (Idaho)
ISSA (Illinois)

Clover Imaging (Illinois)
Warehouse Direct (Illinois)
BriteLift, Inc (Illinois)
WHC Worldwide | zTrip (Indiana)
JCL Solutions (Iowa)
E-Pride Office Products (Iowa)
George Office Products (Iowa)
Spencer Office Supplies (Iowa)
Yellow Cab of Iowa City (Iowa)
WHC Worldwide | zTrip (Kansas)
Superior Computer Supply, Inc. (Kansas)
Overland Chauffeured Services (Kansas)
Airport Shuttle (Kentucky)
Executive Transportation (Kentucky)
WHC Worldwide | zTrip (Kentucky)
North American Marketing, Inc. (Maryland)
Transco Inc. (Maryland)
Landis Office Center, Inc. (Maryland)
Errands Plus Inc. (Maryland)
WHC Worldwide | zTrip (Maryland)
A & A Metro (Massachusetts)
Bill's Taxi Service Inc. (Massachusetts)
Blackstone Valley Livery, LLC. (Massachusetts)
County Rainbow Taxi (Massachusetts)
CRT Cabulance (Massachusetts)
Green and Yellow Cab Co (Massachusetts)
Tommy's Taxi, Inc. (Massachusetts)
Transit Services Inc (Massachusetts)
Transport The People (Massachusetts)
Warren’s Office Supplies (Maine)
Commercial Furniture Services, Inc. (Michigan)
ABC Transportation (Michigan)
The Smead Manufacturing Company (Minnesota)
Innovative Office Solutions (Minnesota)
Lifts Transportation (Minnesota)
WHC Worldwide | zTrip (Missouri)
ABM Federal (Missouri)
Gulf Coast Transit Services, LLC (Mississippi)
WHC Worldwide | zTrip (Mississippi)
Grove Transit (Mississippi)
WHC Worldwide | zTrip (Nebraska)
Adventure Limousine & Transportation (New Hampshire)
Marcam Associates (New Hampshire)
Adventure Transport, LLC (New Hampshire)
Adventure Taxi (New Hampshire)
Addison Lee Inc. (New Jersey)

Station Cab, Inc. (New Jersey)
Briggs Transportation (New Jersey)
WHC Worldwide | zTrip (New Mexico)
J&E Mobile, Inc. (New Mexico)
Las Cruces Shuttle (New Mexico)
Bevilacque Group (New York)
Buffalo Limousine (New York)
Black Car Assistance Corp. (New York)
Eaton Office Supply (New York)
Liberty Yellow Cab of Buffalo (New York)
Black Car Fund (New York)
Anything Office, Inc. (North Carolina)
Crown Cab Company, Inc. (North Carolina)
Kennedy Office (North Carolina)
Taylor Business Products (North Carolina)
WJ Office (North Carolina)
Americab Transportation Inc. (Ohio)
Black &White Transportation (Ohio)
Ace Taxi Service, Inc. (Ohio)
Provide A Ride (Ohio)
Americab Transportation Inc. (Ohio)
Kavanaugh Office City (Ohio)
Broadway Cab (Oregon)
Oregon Taxi, LLC (Oregon)
Wapato Shores Accessible Transportation (Oregon)
Cranberry Taxi, Inc. (Pennsylvania)
Classy Cab Company, Inc. (Pennsylvania)
WHC Worldwide | zTrip (Pennsylvania)
Star Limousine Service, Inc. (Pennsylvania)
Arstar Transportation and Limousine Service, Inc. (Pennsylvania)
Tri County Access Co. Inc. (Pennsylvania)
Veterans Cab Co., Inc. (Pennsylvania)
Valley Limo & Charter (Pennsylvania)
Tri County Access Co., Inc. (Pennsylvania)
Legacy Office Solutions (Rhode Island)
Lorick Office Products (South Carolina)
Yellow Cab Company of Charleston (South Carolina)
J & W Transportation Services (South Carolina)
American Pen & Panel (South Carolina)
Dakota Business Center (South Dakota)
Tennessee Carriers (Tennessee)
Chisholm Trail Transportation (Texas)
Greater Austin Transportation Company (Texas)
Latsons.com (Texas)
Greater Houston Transportation

Greater San Antonio Transportation Company (Texas)
Pasadena Taxi (Texas)
Yellow Cab Galveston (Texas)
Yellow Cab Paratransit (Texas)
Yellow Cab Rio Grande Valley (Texas)
Carter Transportation Services Inc. (Texas)
El Paso Office Products (Texas)
WHC Worldwide | zTrip (Texas)
Perry Office Products (Texas)
Liberty Office Products (Texas)
Daniel Office Products, Inc (Texas)
Alexandria Yellow Cab (Virginia)
Guernsey, Inc. (Virginia)
Arlington Yellow Cab (Virginia)
Ball Office Products (Virginia)
Cornerstone Office Solutions (Virginia)
Embassy Products (Virginia)
Fairfax Yellow Cab (Virginia)
Hampton Roads Transportation, Inc. (Virginia)
Loudoun Yellow Cab (Virginia)
Miller’s Supplies At Work (Virginia)
MOI (Virginia)
Northern Virginia Checker Cab (Virginia)
Red Top Cab (Virginia)
Red Top Cab of Fairfax (Virginia)
Springfield Yellow Cab (Virginia)
Transportation General, Inc. (Virginia)
TSRC Inc. (Virginia)
WHC Worldwide | zTrip (Virginia)
Yellow Cab of Charlottesville (Virginia)
Black and White Cabs of Norfolk (Virginia)
Black and White Cabs of Virginia Beach (Virginia)
Norfolk Checker Taxi (Virginia)
Old Dominion Transportation Group, Inc. (Virginia)
Yellow Cab of Hampton (Virginia)
Yellow Cab of Newport News (Virginia)
Van Go, Inc of Richmond (Virginia)
C&H Taxi (West Virginia)
American United Transportation Group (Wisconsin)
Carpetland USA (Wisconsin)
Tri-State Business Systems Inc (Wisconsin)
Van Go NEMT (Wisconsin) Company (Texas)
Wilson Office Supply (Texas)

 

 


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