Lateefah Simon: “I am extremely proud to lead the Main Street Parity Act with Chair Williams. As members of the Small Business Committee…”

“I am extremely proud to lead the Main Street Parity Act with Chair Williams. As members of the Small Business Committee, one of the most bipartisan committees in the 119th Congress, we hear the same messages repeated every single day: Small businesses don't need special treatment. In fact, they are just asking for a fair shot in this economy. The SBA's 504 loan program is designed to provide that fair shot through basic good policy and affordable, long-term financing. The financing helps small businesses buy buildings, buy property, expand operations, and employ Main Street neighbors throughout our community. Under the current law, not all small businesses are treated the same. Owners of so-called small purpose properties are required to put up significantly more cash up front, often 5 to 10 percent more than standard property owners. These include places like bowling alleys, car washes, marinas, funeral homes, and recreation centers. These are the kinds of small businesses that serve local families, create jobs, and keep our communities vibrant.”