Video of the Senator’s Meeting Available Here.
WASHINGTON, D.C. – Ahead of President Joe Biden’s Joint Address to Congress, U.S. Senator Jacky Rosen (D-NV), a member of the Senate Committee on Small Business and Entrepreneurship, held a video meeting with Magnolia Magat, a Nevada AAPI small business owner and Senator Rosen’s virtual guest for the address. Senator Rosen and Ms. Magat discussed how her small business has been able to stay afloat during COVID-19, thanks to the Paycheck Protection Program that Rosen fought for in the Senate, and what they expect to hear from President Biden during his address.
“I was glad to meet with Magnolia Magat to discuss how her small business has worked to survive during the COVID-19 pandemic,” said Senator Rosen. “We both look forward to President Biden’s address and hearing from him on how we as a country will continue working to support our nation’s small businesses and provide them with the resources they need to get through these challenging times. We also hope to hear from President Biden on his plans to continue fighting back against this pandemic and securing a safe reopening of our country.”
“I’m particularly interested to hear President Biden’s plans to continue helping small businesses like mine as we work to get through the pandemic,” said Magnolia Magat, Owner of Truffles N Bacon. “Both Senator Rosen and President Biden have worked to provide invaluable resources to small businesses, and I hope we continue to prioritize the needs of our nation’s small business communities.”
BACKGROUND: Earlier this month, Rosen visited Truffles N Bacon Café in Las Vegas. During the visit, Senator Rosen spoke with Ms. Magat and Executive Chef Jackie Lim about their recently secured second Paycheck Protection Program (PPP) loan through Navy Federal Credit Union which allowed them to keep their business afloat. This loan was secured as a direct result of the PPP Extension Act of 2021, which Senator Rosen championed in the Senate. 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.
The American Rescue Plan Act of 2021, which Senator Rosen voted in support of, and which was signed into law on March 11, 2021, includes:
- $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.
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