Main Street Briefing

Small business AI adoption between 68-98%; a 10-tool stack runs ~$317/mo and saves 20+ hours and $500-2000/mo. The Fed proposed cutting the debit interchange cap from 21¢+5bps to 14¢+4bps, ~$3B/yr in merchant savings if finalized. National Small Business Week starts Sunday with the SBA Virtual Summit May 5-6.

ADP and Gusto show small businesses driving net job growth in March while medium and large businesses shed positions. Wage plans hit lowest level since July 2025. BizScout raised $5M to scale a marketplace for buying laundromats, HVAC shops, and other "boring" businesses.

The FOMC announces at 2 PM ET — what to listen for in the statement language. The SBA expanded its US-citizens-only restriction to backed loans in April, affecting any business with a non-citizen 20%+ owner. NIH SBIR/STTR reauthorized for five years, restoring $1.3B in non-dilutive funding.

The FOMC kicks off a two-day meeting today with a hold expected at 3.5-3.75%. The NFIB optimism index dropped to 95.8 in March, below the 52-year average for the first time in a year. SMBs are extending inventory horizons to four months as tariffs become structural.

The CAPE refund portal opens but small businesses face structural disadvantage. Visa quietly hiked Level 2 small business credit fees and sunset the legacy program April 18. FSMA 204 enforcement is now landing on independents who thought paper records would suffice.