"Rubio Statement on EIDL Grants and Loans Opening for Agricultural Small Businesses"
Summary
A statement dated May 5, 2020 from U.S. Senator Marco Rubio (R-FL), Chairman of the Senate Committee on Small Business and Entrepreneurship, issued after the SBA announced the opening of its Economic Injury Disaster Loan (EIDL) portal to eligible agricultural businesses as authorized by the Paycheck Protection Program and Healthcare Enhancement Act. Rubio says he will continue congressional oversight to ensure the agency processes EIDL grants and loans expeditiously. The release says agricultural businesses have traditionally been unable to access the EIDL program and rely on USDA disaster assistance programs, which were not triggered because physical damages have not occurred. It says Rubio wrote to the SBA the previous month to clarify Congress's intent to give agricultural businesses EIDL access.
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Full text
Title: Rubio Statement on EIDL Grants and Loans Opening for Agricultural Small Businesses Date: 2020-05-05 Rubio Statement on EIDL Grants and Loans Opening for Agricultural Small Businesses May 5, 2020 Washington, D.C. — U.S. Senator Marco Rubio (R-FL), Chairman of the Senate Committee on Small Business and Entrepreneurship, issued the following statement after the U.S. Small Business Administration (SBA) announced the opening of the SBA’s Economic Injury Disaster Loan (EIDL) portal to eligible agricultural businesses as authorized by the Paycheck Protection Program and Healthcare Enhancement Act. “U.S. small businesses have been hit hard by the coronavirus, including those in our nation’s vital agriculture industries,” Chairman Rubio said. “I will continue to oversee congressional oversight efforts to ensure the agency is expeditiously processing EIDL grants and loans. It is imperative that those small businesses who have already submitted their paperwork receive this assistance quickly.” Agricultural businesses have traditionally been unable to access SBA’s EIDL program and usually are reliant on the U.S. Department of Agriculture’s (USDA) disaster assistance programs when a disaster strikes. Due to the nature of the coronavirus, USDA disaster programs were not triggered since physical damages have not occurred. Last month, Chairman Rubio wrote to SBA to clarify the intent of Congress to allow agricultural businesses to have access to the EIDL program. The Chairman worked with his colleagues to ensure there was a legislative fix in the recent funding bill that was signed into law. Permalink: https://www.sbc.senate.gov/public/index.cfm/2020/5/rubio-statement-on-eidl-grants-and-loans-opening-for-agricultural-small-businesses
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- 2020-05-05_rubio-statement-on-eidl-grants-and-loans-opening-for.txt
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- ee1d54d9688bc5787d793d5bfa3918ed8ae850ba2450f0e289477bea9c8cce9e
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- www.sbc.senate.gov