WASHINGTON, DC: Rep. Andy Harris, M.D. (MD-01) announced that the U.S. Small Business Administration (SBA) has declared seven counties on Maryland’s Eastern Shore a disaster area, thereby making available financial resources for small businesses negatively affected by the COVID-19 (Coronavirus) pandemic. The seven counties are: Cecil, Kent, Queen Anne’s, Caroline, Dorchester, Wicomico, and Worcester.
Specifically, under an SBA disaster declaration, businesses can apply for low-interest federal disaster loans for working capital if they are suffering substantial economic injury as a result of the Coronavirus outbreak. SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance per small business and can provide vital economic support to help overcome temporary loss of revenue. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. Additionally, SBA offers these loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years.
Congressman Harris made the following statement:
“I thank the Administration for providing emergency assistance to small employers on most of the Eastern Shore. These resources are critical to our small businesses, employees, and local communities on the Eastern Shore, and I also hope to soon see the entire state of Maryland declared a disaster area as a result of the Coronavirus outbreak and receive the same assistance. This program will help small employers pay their employees and sustain businesses until the virus subsides and our local economy rebounds.”
Further information for businesses interested in applying for SBA loans can be found here. Additionally, Congressman Harris has joined a Maryland Congressional Delegation letter to the Small Business Administration urging them to declare the entire state a disaster area, which has been requested by Governor Hogan.
8 comments:
This should tell you what you need to know about Harris. If you read, Somerset Co. was excluded from SBA aid because he didn't ask for it. Remember this when you vote. Somerset always gets the short end of the stick and the Commissioners are worthless.
No sense offering me loan. There's no way we could ever pay it back.
The business we've lost is gone. Customers have gone to buying out of state instead of local, and won't come back.
It's a joke. A really bad joke.
One we won't survive
Yep, they're saving a buck by not declaring an emergency. Now everybody who could have been helped has lost out. It's unlikely that any relief will be available once they cave in and request assistance.
Thanks for nothing Congressman Harris.
Loans have to be paid back and if you are a struggling small business, your screwed!
Hey I'll bet you will still get paid and have lifetime benefits and perks while there rest of us will wonder how we are going to get food and how we will be able to pay our bills!
Lets see what they do when the property tax bill comes soon and the fact they will be raising our taxes through the roof!
How are you going to collect when most of us are unemployed?
Dosent make any sense to not do it for every county, we've all been forced to shut the doors. More government games? A loan with interest? Maybe the best time ever to go off grid and stop giving the gov money, they just waste it anyway.
Loans to repay for small businesses,
free money bailouts for large corporations.
Stock up on Muskrats & Toilet Paper !!!
7:08....You ARE aware of Two Sets of Laws, right?
YOU go to prison or starve.
They buy another mansion in California and talk about the "deplorable" serfs.
Millions cheer.
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