East Bay restaurants are struggling under the weight of COVID-era loans. This food entrepreneur is rallying support

During the COVID pandemic, the Small Business Administration awarded around 4 million Economic Injury Disaster Loans (EIDL) totaling about $390 billion to small businesses. Unlike other federal funding, EIDLs are not forgivable, contributing to closures. Iso Rabins is campaigning for EIDL forgiveness through Save Your Local. He emphasizes compassion for struggling food businesses, noting high default rates could devastate communities. The SBA estimates 37% of these loans will default, potentially affecting 1.3 million small businesses and leading to significant socioeconomic consequences.

"I have a lot of compassion for anyone who's trying to run a food business. And then COVID comes. I'm amazed anybody survived that at all. And then on top of that, the few businesses that did survive now are getting shut down by these loans."

"A default means 'A family losing everything they built,' '10-20 employees suddenly without jobs,' 'Your neighborhood losing another gathering place,' and 'Another empty storefront where life used to be.'"

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