Small Businesses

Small businesses are the heart of the American economy.  Our country’s small businesses employ half of the nation’s private sector workforce and create a large portion of America’s new jobs. It is critical that small businesses play a significant role in our efforts to restore America’s economic strength and the growth of Memphis.

Growing small businesses – specifically businesses owned by minorities and women entrepreneurs - has been a recent topic in Memphis. Opening new doors for small businesses here in the United States and internationally is essential. For Memphis businesses to grow, we must ensure they are represented in the federal government’s procurement process. One of the largest customers of goods and services is the federal government, and last year small businesses in the U.S. received nearly 1.8 million contracts totaling almost $90 million.

In an effort to ensure that small businesses in Memphis have the information that they need, I have for several years hosted a Federal Procurement Fair to help small business owners who want to do business with the U.S. government. The Department of Transportation, Department of Energy, Minority Business Development Agency, Department of Housing and Urban Development, Small Business Administration and other federal agencies attend to help explain the federal contracting process and the basic requirements of engaging in business with the federal government.

Expanding the American workforce and supporting small businesses is an economic imperative. As we continue with that work, it is important for the public and private sectors to work together. I am committed to playing my part to support and empower hardworking American families, protect jobs and support small business growth in the Memphis area.

More on Small Businesses

January 26, 2021 Press Release

MEMPHIS – Congressman Steve Cohen (TN-09) today announced three federal grants totaling more than $1 million. The University of Tennessee Health Science Center (UTHSC) will receive $542,105 from the National Heart, Lung and Blood Institute for research on endothelial cells. The University of Memphis will receive $346,506 from the National Institute on Alcohol and Alcoholism for work on approaches to reducing alcohol use among non-student, emerging adults.

December 21, 2020 Press Release

MEMPHIS – Congressman Steve Cohen (TN-09) today voted for the Omnibus Appropriations bill containing full-year funding for the federal government for Fiscal Year 2021, and including $900 billion in much-needed coronavirus health and economic relief for millions during the first weeks of the Biden Administration. The bill contains in its entirety the Airport Readiness Act (AIR) Act which the Congressman introduced. The measure also includes major wins for Memphis, including the transfer of flood control obligations from the City to the U.S.

December 20, 2020 Press Release

MEMPHIS -- Congressman Steve Cohen (TN-09) will vote for tonight’s Continuing Resolution to provide an additional 24 hours for finalizing the compromise negotiators have achieved, and made the following statement:

December 4, 2020 Press Release

MEMPHIS – Congressman Steve Cohen (TN-09) today led a letter to Speaker Nancy Pelosi and the Chairs of the Appropriations Committee and its Subcommittee on Commerce, Justice and Science asking them for their continued support for Minority Business Development Agency (MBDA) business centers and extended funding through September 30, 2021. Without an extension, businesses centers across the country will shutter on March31, 2021when their five-year grants expire.

The letter reads in part:

December 4, 2020 Press Release

MEMPHIS – Congressman Steve Cohen (TN-09) today read with concern press accounts suggesting that Paycheck Protection Program (PPP) loans were directed to the tenants of properties owned by President Trump and his son-in-law Jared Kushner and renewed his request to Treasury Secretary Steven Mnuchin for details on PPP loans and loan forgiveness.

Twenty-five loans worth $3.65 million reportedly went to Trump or Kushner property tenants to pay for rent (to Trump and Kushner properties).

November 20, 2020 Press Release

MEMPHIS – Congressman Steve Cohen (TN-09) today wrote for a third time to Treasury Secretary Steven Mnuchin asking for clarification of the Treasury Department’s plan to forgive Paycheck Protection Program (PPP) loans despite clear evidence that some were obtained by fraud. In today’s letter, Congressman Cohen urged the Secretary to ensure necessary controls are in place to deliver maximum relief to PPP borrowers while maintaining the government’s ability to prosecute PPP fraud.  

The letter reads in part: 

October 26, 2020 Press Release

MEMPHIS – Congressman Steve Cohen (TN-09) today wrote to House Democratic leaders asking that they incorporate an increase in coronavirus economic relief funding for cinemas like one recently introduced in the Senate. That measure, the Heroes Small Business Lifeline Act, establishes targeted relief for movie theaters that will save both jobs and the movie industry.

October 1, 2020 Press Release

WASHINGTON – Congressman Steve Cohen (TN-09) tonight voted for the updated Heroes Act, which contains many of the provisions he has fought hard to have included in the measure addressing our ongoing health and economic catastrophe to protect lives, livelihoods and the life of our democracy. The $2.2 trillion measure is a scaled down version of the Heroes Act the House passed on May 15 but which the Senate has so far failed to consider.

Tonight’s vote on passage was 214 to 207.

Congressman Cohen made the following statement:

September 28, 2020 Press Release

MEMPHIS – Congressman Steve Cohen (TN-09) this evening enthusiastically endorsed an updated Heroes Act to address the ongoing health and economic catastrophe with much-needed assistance to protect lives, livelihoods and the life of our democracy. The $2.2 trillion measure is a scaled down version of the Heroes Act the House passed four months ago but which the Senate has failed to consider.

Congressman Cohen made the following statement:

September 28, 2020 Press Release

 

MEMPHIS – Congressman Steve Cohen (TN-09) today wrote to Treasury Secretary Steven Mnuchin for the second time, asking for clarification of his plan to forgive Paycheck Protection Program (PPP) loans despite clear evidence that some were obtained by fraud. In today’s letter, Congressman Cohen also asked Mnuchin to review coronavirus-related loans to businesses associated with President Trump in light of recent revelations that several businesses with ties to the president received millions of dollars in loans.

His letter reads in part: