On April 28, 2020, U.S. Congressman Josh Gottheimer (NJ-5) joined a video conference call with small business owners throughout Sussex County to update them on federal resources and economic assistance available to help local businesses and their employees, and to outline the recently enacted bipartisan interim emergency package that further funds the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) small business assistance programs, resources for health care facilities, and a ramp up in testing capabilities.
“Throughout North Jersey, this crisis is impacting our local businesses and their ability to pay their employees and their bills, and it’s vital that we ensure resources are getting to those who need it most,” Congressman Gottheimer (NJ-5) said via video conference to Sussex County small business owners today. “I’ve heard from many small businesses describing their frustrations in applying and receiving resources from these programs. I share those frustrations — because if our small businesses can’t access capital then our whole economy suffers. What we’ve been working on has been an unprecedented undertaking to provide relief while we work to stop the spread of this pandemic, but it is critically important that we get this right and I won’t stop fighting until everyone can get the resources they need. I am leading a bipartisan group of my colleagues in Congress to provide more flexibility to lenders to be able to disperse funds more efficiently and to those who need it most, and to provide more flexibility to small businesses to use the money how they need to.”
The new bipartisan interim emergency package Gottheimer highlighted provides more funding to small businesses through existing loan programs, including:
- $320 billion to replenish the Paycheck Protection Program and get additional resources out the door to small businesses that need them.
- $60 billion in the new Paycheck Protection Program dedicated to small lenders and community based financial institutions.
- $50 billion for the SBA’s Economic Injury Disaster Loan Program, which will now also include qualifying agricultural businesses, an addition that Gottheimer and his colleagues pushed for.
- $10 billion for SBA’s Economic Injury Grant Program
Gottheimer noted that the U.S. Small Business Administration began accepting applications from approved Paycheck Protection Program lenders again this week. On top of new applications coming in, the SBA is urging lenders to process loan applications previously submitted by eligible borrowers and disburse funds expeditiously.
Gottheimer also noted that if a small business owner has previously applied for PPP and have not received a confirmation email from their lender, they should follow up with their lender for a status update.
Sussex County small business owners that joined today’s video conference call included those in the restaurant and food service, retail, antiques, welding, auto repair and auto sales, fitness, museum, hospitality, recreation, agriculture, carpentry, engraving, floral, hair care, lawn care and landscaping, construction, day care, heating and A/C, cleaning services, fitness, plumbing, photography, and pet care sectors, among others