AmiSight 11/16: A Perspective from Washington D.C.

I was lucky enough to sit down with someone extensively involved on the government and public policy side of the small business community, Rhett Buttle. In 2014, Rhett was appointed by President Obama to The White House Business Council. Buttle has also served in the Office of California Governor Arnold Schwarzenegger and has worked on several other presidential campaigns. Rhett has been featured in the New York Times, CNN, and WSJ.

Rhett is also the Founder of Public-Private Strategies (PPS). PPS creates opportunities where the public and private sectors meet, bringing together diverse allies, including associations, corporations, small businesses, and entrepreneurs, to solve pressing societal challenges. In addition, Rhett is a Senior Fellow at The Aspen Institute, where he focuses his efforts on re-visioning how 21st Century labor and financial markets can deliver inclusive growth and shared prosperity.

I wanted to speak with Rhett about my concerns about what is currently going on in Washington. For example, when I ask business owners who have more cash on their balance sheet today than they did at the beginning of the pandemic, 99% raise their hands. Yet, EIDL was raised again to $2M, and business owners still don’t need much proof of economic injury. I see the businesses that need the money getting lost in the shuffle of thousands of other companies that, in my opinion, don't need the money. They don't want to miss out on $2M over 30 years at 3.75%. I argue that we need to simplify the requirements for SBA loans under $150K, and then banks would be a lot more willing to do those loans. Such small businesses usually don’t have all their books, taxes, or financials in good enough order to make banks feel comfortable lending to them.

Listen Here for Rhett’s Response: https://bit.ly/3b5lzdH