That the fund went “from conception to announcement to disbursement within less than two weeks is a sign of what is possible when everyone acts with a sense of urgency and mutual trust,” says Bugg-Levine, who has led NFF since 2011.
“Cities who have taken a resilience approach are better prepared,” says Global Resilient Cities Network’s Lauren Sorkin.
The grassroots response is moving quickly to bridge gaps as Congress haggles over a relief package that could take weeks to reach families and businesses.
Without fast and targeted action, we could face a “Main Street bloodbath that...will very soon decimate local economies across the country for a long time,” warn New Localism Advisors’ Bruce Katz, Blueprint Local’s Ross Baird and The Governance Project’s Colin Higgins.
A collective safety net, says Open Road's Maya Winkelstein, “will be our best chance at reducing the longer term economic effects on the sector hitting in fall, even after we are well past the public health moment.”
MCE's loan guarantee model leverages the credit of high net worth individuals and foundations to unlock capital for small and growing businesses.
“What does it mean to be friends and family to one another, in a way that is rooted in trust?” asks Runway Project's Jessica Norwood. “What was made visible for us by the coronavirus is we are all so interconnected, and the investment has to feel that way.”