Cunningham Calls for Clear Guidance to Assist Small Businesses Impacted by Coronavirus

March 13, 2020
Press Release

Washington, D.C. – Today, Rep. Joe Cunningham (SC-01) joined a bipartisan group of lawmakers in calling for urgent action and clarity from the Small Business Administration (SBA) to assist small businesses being impacted by COVID-19 and related containment efforts.

Last week, Cunningham helped pass bipartisan legislation signed into law by President Trump that allows for an estimated $7 billion in low-interest loans to affected small businesses, to help cushion the economic blow of this public health emergency.

“Congress approved $8.3 billion in emergency funding for federal agencies to respond to the ongoing COVID-19 Coronavirus outbreak, including $20 million for the Small Business Administration and up to $7 billion in low-interest disaster loans to assist small businesses impacted by this public health crisis,” the lawmakers wrote. “It is our responsibility to ensure that small businesses across the country know that we are looking out for them.”

The letter asked SBA Administrator Jovita Carranza to do the following:

  1. Provide a clear process for how states can work with the Small Business Administration to officially declare a disaster for coronavirus-related economic injuries to small businesses
  2. Develop and communicate a clear process for small businesses who have been adversely affected by the coronavirus to access economic injury disaster loans
  3. Provide direction to Congress on what steps are being taken by the Small Business Administration to deliver assistance as quickly as possible
  4. Compile and communicate a repository of additional resources that are available to assist small businesses adversely affected by the coronavirus

--

The full leter can be found below:

Ms. Jovita Carranza

Administrator

U.S. Small Business Administration

409 3rd St SW

Washington, D.C. 20416

Dear Administrator Carranza:

As you are aware, the President has recently signed the Coronavirus Preparedness and Response Supplemental Appropriations Act (H.R. 6074) into law. In this legislation, Congress approved $8.3 billion in emergency funding for federal agencies to respond to the ongoing COVID-19 Coronavirus outbreak, including $20 million for the Small Business Administration and up to $7 billion in low-interest disaster loans to assist small businesses impacted by this public health crisis.

Congress included these measures after hearing from small businesses, small agricultural cooperatives, small aquaculture producers, and small non-profit organizations that have been adversely affected by financial losses stemming from the coronavirus. In order to ensure these small businesses can operate with a sense of stability, we are calling on the Small Business Administration to do the following:

  1. Provide a clear process for how states can work with the Small Business Administration to officially declare a disaster for coronavirus-related economic injuries to small businesses
  2. Develop and communicate a clear process for small businesses who have been adversely affected by the coronavirus to access economic injury disaster loans
  3. Provide direction to Congress on what steps are being taken by the Small Business Administration to deliver assistance as quickly as possible
  4. Compile and communicate a repository of additional resources that are available to assist small businesses adversely affected by the coronavirus

Thank you for your attention to this matter. It is our responsibility to ensure that small businesses across the country know that we are looking out for them. We look forward to your prompt response.

 

Sincerely,