As a startup founder, I have been tracking the developments of funding measures for small business closely. The Coronavirus Aid, Relief and Economic Security Act (CARES) has been a needed lifeline for entrepreneurs like me.

Take, for example, the Paycheck Protection Program – this loan is having a real impact on saving jobs. My own startup, Shift, has applied for one of these loans to continue paying our workers and keep them employed. Despite the lackluster response from the Trump administration as a whole, this was a huge win for small-business owners. Hats off to Sen. Susan Collins for her legislative savvy in designing this to help small businesses.

However, the reality is that $350 billion is not going to be enough. With many prominent business leaders and economists expecting a slow economic recovery, Congress will need to approve at least two more emergency bills, likely around $2 trillion, just to keep our small businesses alive.

We need senators to stop filibustering and start giving this sector of the economy more money. We need to lengthen the time that is covered under these loans. And we need more senators like Marco Rubio and Collins to support us in this difficult time. Without this, the small businesses that serve as the backbone of the U.S. economy and innovation will cease to exist.

George Arison

co-founder, Shift.com; Class of 1996, Hebron Academy

San Francisco

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