WASHINGTON, D.C. – Today, U.S. Senator Jacky Rosen (D-NV), a member of the Senate Committee on Small Business and Entrepreneurship, announced that she has invited Southern Nevada AAPI small business owner, Magnolia Magat to virtually attend President Joe Biden’s Joint Address to Congress. Earlier this month, Rosen toured Ms. Magat’s small business, Truffles N Bacon Café, and discussed her recently secured second Paycheck Protection Program (PPP) loan that helped keep her small business afloat. This PPP loan was secured as a direct result of the PPP Extension Act of 2021, which Senator Rosen championed in the Senate.
“COVID-19 has disproportionately impacted minority communities, so it is critical that we work to provide our minority-owned small businesses with the resources they need to survive,” said Senator Rosen. “I am thankful to be virtually joined by Magnolia at President Biden’s Joint Address to Congress. Her restaurant, Truffles N Bacon, has become a staple of the Las Vegas restaurant community, and I will continue fighting in Congress to provide Nevada and our nation’s small businesses, like Magnolia’s, with the critical resources they need to not only recover from the pandemic but to thrive.”
“I’m honored to join Senator Rosen at the President’s Joint Address to Congress,” said Magnolia Magat, Owner of Truffles N Bacon. “Senator Rosen is a champion for small businesses like mine that have struggled to stay open due to the pandemic, and it’s because of the Paycheck Protection Program, a lifeline for small businesses that Senator Rosen has fought for, that our doors have been able to stay open. I look forward to continuing to work with her to ensure we prioritize the needs of our small business community.”
BACKGROUND: Earlier this month, Rosen visited Truffles N Bacon Café in Las Vegas. Senator Rosen spoke with Magnolia Magat and Executive Chef Jackie Lim about their recently secured second Paycheck Protection Program (PPP) loan through Navy Federal Credit Union in order to keep their business afloat. They also discussed the Senator’s work to support Nevada’s small business community during the COVID-19 pandemic.
Senator Rosen was a co-sponsor of the PPP Extension Act of 2021, bipartisan legislation which extends the Paycheck Protection Program (PPP) through May 31, 2021. The bill was signed into law on March 30, 2021. Since the inception of the Paycheck Protection Program in April 2020 until March 28, 2021, Nevada small businesses have received a total of 77,941 PPP loans, amounting to more than $6 billion.
- $25 billion for direct aid to restaurants,
- $15 billion in new EIDL grants for small businesses, in line with the amount in Senator Rosen’s EIDL for Small Businesses Act, and
- $7.25 billion for the Paycheck Protection Program, including expanded eligibility.
Last week, Rosen helped introduce the Minority Business Resiliency Act of 2021. This legislation would make the Minority Business Development Agency (MBDA) permanent under federal law and increase the number of MBDA regional offices to serve additional minority small business communities impacted by COVID-19.