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Higgins announces SBA approval of disaster loan assistance for New York

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Thu, Mar 19th 2020 04:55 pm

Congressman Brian Higgins, D-NY-26, announced the U.S. Small Business Administration has approved New York’s request for a disaster declaration based on economic injury caused by the coronavirus (COVID-19) outbreak. Higgins and other members of the New York federal delegation sent a letter to President Donald Trump urging approval of the disaster designation.

The authorization to provide disaster assistance was made possible through the Coronavirus Preparedness and Response Supplemental Appropriations Act of 2020, approved by Higgins and the House of Representatives on March 4. The legislation authorizes approximately $7 billion in loans to small businesses impacted by the COVID-19 outbreak. 

Higgins said, “Businesses and workers are hurting like never before. This is just the very first step in what will be a long relief and recovery process.”

Under the designation, small businesses and nonprofit organizations are eligible for disaster loans. A SBA fact sheet is available on Higgins’s website. Additional information on eligibility and the application process is available at SBA.gov/disaster.

Questions can be directed to the national SBA disaster assistance customer service center at 1-800-659-2955 or [email protected], or the local Small Business Development Center at 716-878-4030 or [email protected].

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