Weekly Mayor's Message

Small Business-Backbone of Our Country!

For the past week, financial institutions have been accepting applications to completely fund small business’ payrolls.  If these funds are used to retain and/or hire back formally laid off employees, then those loans are forgiven.

This Payroll Protection Program (PPP) is a key part of the recently passed Coronavirus Aid, Relief, and Economic Security or CARES Act.  Its strategic purpose is to ensure our small businesses have the capital they need to remain solvent so that when our great Country “reopens”, they will be fully staffed and ready to hit the ground running.

I want to encourage all small business owners to seriously consider applying for capital through the PPP.  By securing these funds, there’s no need to layoff staff!  If you’ve already laid off staff, you can hire them back!  Securing these forgivable loans (essentially grants) through the PPP will allow you to retain all your staff without any financial risk to your business.  This is an incredible opportunity to take the next several weeks to prepare for what will be an economic “rebirth” of our nation.  It’s also an opportunity to reduce the added stress and anxiety for both you and your employees over losing your income.  And with all the stress we’re already dealing as we protect ourselves and loved ones from COVID-19, isn’t eliminating financial uncertainty worth the paperwork?

Finally, let me address the stigma of taking these monies as somehow being guilty of receiving Government welfare.  This past weekend, I had a friend stop over to say hi (yes, we both remained 6 feet away!).  He mentioned that his business was struggling, and I asked if he had applied for funds under PPP.  He said he had never asked for government welfare and he wasn’t going to start now.  I explained that this is not government welfare!  I told him to think of it as due compensation for a forced taking!”.  To all small businesses out there, your financial woes are not your fault!  The Government, for good public health reasons, mandated the closure of normal business.  Look at the PPP as compensation for this forced disruption.

So my call-out to all small businesses… think of applying for PPP funds as a duty-to your family, to your employees, to our City, State, and Country.  You must remain strong and ready to provide your vital services when this country re-opens for business.  We’re all depending on you to help us recover from what is the worst economic crisis our country has ever faced.

Tony Giunta, Mayor City of Franklin