Ros-Lehtinen Applauds House Passage Of Bill For Additional SBA Disaster Funds
(Washington, DC) -- Congresswoman Ileana Ros-Lehtinen is encouraged by the House passage of legislation for increased appropriations to the Small Business Administration's disaster loan program. This bill provides $712 million for the program, which would leverage an additional $4.8 billion in disaster loans.
Said Ros-Lehtinen: "This additional funding will give the small business owners affected by last years' storms access to the disaster assistance they so desperately need. I remain committed to helping our vibrant business community recover from a devastating hurricane season. I urge my colleagues in the Senate to pass this legislation quickly, so that South Floridians can continue to receive these vital funds."
Under its disaster assistance program, the SBA provides two loan options to business owners seeking federal assistance following a natural disaster. Small businesses are eligible for an economic injury disaster loan to mitigate economic losses, while businesses of any size may obtain loans to finance the physical reconstruction of a business.