Republican congressman Glenn Grothman says small businesses would not have to repay loans if they promise not to lay-off workers during the coronavirus pandemic under a provision in an historic $2 trillion stimulus package. The largest emergency aid package in U.S. history was signed into law Friday. Grothman says small businesses will get loans directly from banks to cover more than two months of payrolls and some other operating expenses with the government paying off the balance so long as the companies either don’t lay off workers or rehire the ones they’ve already let go. “…and I think particularly if you talk to the local restaurants in town, that’s something that’s going to be very important,” Grothman told WFDL news. “The idea being we want to keep everybody whole, we want to keep the businesses whole.” In addition to financial assistance for small businesses and distressed companies, key elements of the package include sending checks directly to individuals and families, a major expansion of unemployment benefits, and money for hard-hit hospitals and health care providers.
