Tag: economic injury disaster loan

At the start of the month, Salazar offered a bill on the matter. U.S. Rep. Sharice Davids, D-Kansas, is the main cosponsor. Other backers include U.S. Rep. Mario Diaz-Balart, R-Fla., U.S. Rep. Annie Craig, D-Minn., and U.S. Rep. Dan Meuser, R-Penn.

U.S. Rep. Sharice Davids, D-Kansas, is the main cosponsor. Other backers include U.S. Rep. Mario Diaz-Balart, R-Fla., U.S. Rep. Annie Craig, D-Minn., and U.S. Rep. Dan Meuser, R-Penn.

On Thursday, Rubio sent a letter to Jovita Carranza, the administrator of the U.S. Small Business Administration (SBA), requesting information from the agency following a recent Inspector General report that found billions of dollars in potential fraud in the expanded Economic Injury Disaster Loan (EIDL) program for COVID-19. 

In April, Rubio sent a letter to a number of large banking institutions who participate in the PPP requesting information on their application process amid recent reports certain large banks prioritized borrower applications, which is a violation of congressional intent of the program.

The Florida Department of Economic Opportunity (DEO) released the unemployment figures for March, showing the first indicators of the economic damage the coronavirus pandemic caused.

The bridge loan program, managed by DEO, provides short-term, interest-free loans to small businesses that experienced economic injury from COVID-19. Additionally, DEO announced the availability of business resources to help businesses recovering from the economic impacts resulting from COVID-19.

On Monday, U.S. Sen. Marco Rubio, R-Fla., the chairman of the U.S. Senate Committee on Small Business and Entrepreneurship, sent a letter to Jovita Carranza, the administrator of the U.S. Small Business Administration (SBA), urging the agency to issue an Economic Injury Disaster Loan (EIDL) declaration for the state of Florida to help businesses receive SBA EIDL loans that are suffering from economic injury due to the coronavirus.