In March, the beginning of the COVID-19 pandemic saw numerous reports of people hoarding important supplies. Authorities in Tennessee investigated two brothers who had stockpiled nearly 18,000 bottles of hand sanitizer. Panicked shoppers prepared for stay-at-home orders by buying huge quantities of toilet paper, bottled water, and other provisions.

As disappointing as some of these incidents were, our country now faces an even bigger hoarding problem. Businesses only mildly affected by the pandemic or with plentiful access to capital have “boxed out” small businesses in the race to apply for federal assistance. As large businesses use government resources to hoard cash, some small businesses may not survive much longer.