{"id":1310,"date":"2020-07-23T22:31:20","date_gmt":"2020-07-23T22:31:20","guid":{"rendered":"https:\/\/rosen-testing.senate.gov\/2020\/07\/23\/during-senate-small-business-committee-hearing-rosen-discusses-her-eidl-for-small-businesses-act-how-congress-can-support-minority-owned-businesses\/"},"modified":"2022-07-13T20:23:44","modified_gmt":"2022-07-13T20:23:44","slug":"during-senate-small-business-committee-hearing-rosen-discusses-her-eidl-for-small-businesses-act-how-congress-can-support-minority-owned-businesses","status":"publish","type":"post","link":"https:\/\/www.rosen.senate.gov\/es\/2020\/07\/23\/during-senate-small-business-committee-hearing-rosen-discusses-her-eidl-for-small-businesses-act-how-congress-can-support-minority-owned-businesses\/","title":{"rendered":"During Senate Small Business Committee Hearing, Rosen Discusses Her EIDL for Small Businesses Act, How Congress Can Support Minority-Owned Businesses"},"content":{"rendered":"<p align=\"center\" style=\"text-align:center\"><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><b><span style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\">Watch Senator&nbsp;Rosen\u2019s full remarks&nbsp;<a href=\"https:\/\/youtu.be\/tEWb0P2KKQE\" style=\"color:#0563c1; text-decoration:underline\"><span style=\"color:#954f72\">aqu\u00ed<\/span><\/a>.<\/span><\/span><\/b><u1_p><\/u1_p><\/span><\/span><\/p>\n<p><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><b><span style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\"><span style=\"color:black\">WASHINGTON, D.C.<\/span><\/span><\/span><\/b><span style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\"><span style=\"color:black\">&nbsp;\u2013&nbsp;Today,&nbsp;during&nbsp;a&nbsp;hearing&nbsp;of the Senate Committee on Small Business and Entrepreneurship, U.S. Senator Jacky&nbsp;Rosen&nbsp;<\/span><\/span><\/span><span style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\">spoke with&nbsp;business leaders about her recently introduced&nbsp;<span style=\"color:black\">bipartisan&nbsp;<i>EIDL&nbsp;<\/i><\/span><i>for Small Businesses Act<\/i>, as well as the lack of access to capital and other issues that minority businesses enterprises (MBEs) or minority-owned small businesses have experienced during the coronavirus pandemic, and how Congress can best provide assistance.<\/span><\/span><u1_p><\/u1_p><\/span><\/span><\/p>\n<p><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\"><span style=\"color:black\">\u201c<\/span><\/span><\/span><span style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\">Over the past few months, the coronavirus pandemic has devastated small businesses in Nevada and across the country and put millions out of work. Many minority small business owners in Nevada were particularly hard hit due to a lack of access to capital,\u201d&nbsp;<b>dijo el Senador Rosen.<\/b>&nbsp;\u201cCongress stood up emergency lending programs to fill in these gaps, but my office has heard countless stories from minority-owned small businesses struggling with SBA\u2019s Economic Injury Disaster Loan (EIDL).\u201d<\/span><\/span><u1_p><\/u1_p><\/span><\/span><\/p>\n<p><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\"><span style=\"color:black\">\u201c<\/span><\/span><\/span><span style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\">That is why earlier this week, I introduced, along with Senator Cornyn, bipartisan legislation to address this problem \u2013 the&nbsp;<i>EIDL for Small Businesses Act<\/i>,\u201d&nbsp;<b>Senator Rosen continued.<\/b>&nbsp;\u201cThis bipartisan bill would prevent the SBA from imposing any arbitrary limits on EIDL and EIDL Advance, including providing $10,000 grants to all eligible small businesses, regardless of their size. It also would appropriate $100 billion for EIDL and $80 billion for the EIDL Advance program<span style=\"color:black\">.\u201d<\/span><\/span><\/span><u1_p><\/u1_p><\/span><\/span><\/p>\n<p><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\"><span style=\"color:black\">\u201cA<\/span><\/span><\/span><span style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\">s you know, the EIDL Advance program has run out of funds.&nbsp;I know that business owners in Nevada feel that this is a particular problem. Ken Evans, President of the Urban Chamber of Commerce in Nevada supports my effort. He said \u2018<span style=\"background:white\"><span style=\"color:black\">los&nbsp;<i>EIDL&nbsp;for&nbsp;Small Businesses&nbsp;Act<\/i>&nbsp;will help our businesses secure much needed capital to counter the impact of COVID-19 in the Southern Nevada region.\u2019&nbsp;<\/span><\/span>Can you please discuss why it is so important to recapitalize the EIDL and EIDL Advance programs, and why it is critical that our smallest and most vulnerable minority-owned small businesses receive the full $10,000 grants, regardless of their size?<span style=\"color:black\">\u201d&nbsp;<b>Senator&nbsp;Rosen&nbsp;asked Ron Busby, President and CEO of U.S. Black Chambers Inc.<\/b><\/span><\/span><\/span><u1_p><\/u1_p><\/span><\/span><\/p>\n<p><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><b><u><span style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\"><span style=\"color:black\">BACKGROUND:<\/span><\/span><\/span><\/u><\/b><b>&nbsp;<\/b><span style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\"><span style=\"color:black\">Earlier this week, Senator Rosen, along with Senator John Cornyn (R-TX) introduced the&nbsp;<i><span style=\"background:white\"><a href=\"https:\/\/www.rosen.senate.gov\/es\/rosen-cornyn-introduce-bipartisan-legislation-provide-increased-eidl-loans-and-eidl-advance-grants\/\" style=\"color:#0563c1; text-decoration:underline\"><span style=\"color:#954f72\">Ensuring Increased Disaster Loans (EIDL) for Small Businesses Act<\/span>&nbsp;<\/a><\/span><\/i><span style=\"background:white\">(S.4227). This bipartisan legislation would assist the nation\u2019s small businesses impacted by the coronavirus pandemic by providing an additional $180 billion for the Economic Injury Disaster Loan (EIDL) and&nbsp;EIDL&nbsp;Advance programs. The bill would also prohibit the Small Business Administration (SBA) from arbitrarily capping&nbsp;EIDL&nbsp;loans below $2 million \u2013 the threshold set by Congress \u2013 and require SBA to provide $10,000&nbsp;EIDL&nbsp;Advance grants to all eligible small businesses, regardless of size, as intended by the original&nbsp;<i>CARES Act<\/i>.<\/span><\/span><\/span><\/span><u1_p><\/u1_p><\/span><\/span><\/p>\n<p><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\"><span style=\"color:#0e101a\">As of last week, the&nbsp;EIDL&nbsp;Advance grant program has run out of funding and small businesses are no longer receiving this relief.<\/span><\/span><\/span><u1_p><\/u1_p><\/span><\/span><\/p>\n<p><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\"><span style=\"color:#0e101a\">In April,&nbsp;<a href=\"https:\/\/www.cornyn.senate.gov\/content\/news\/cornyn-urges-eidl-improvement-texas-small-businesses\" style=\"color:#0563c1; text-decoration:underline\" target=\"_blank\" rel=\"noopener\"><span style=\"color:#954f72\">Senator Rosen co-lead a letter along with Senator Cornyn<\/span><\/a>&nbsp;urging the SBA to&nbsp;<\/span><\/span><\/span><span style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\">eliminate its self-imposed<span style=\"color:#0e101a\">caps on&nbsp;EIDL&nbsp;loans and&nbsp;EIDL&nbsp;Advance grants.<\/span><\/span><\/span><u1_p><\/u1_p><\/span><\/span><\/p>\n<p><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\"><span style=\"color:#0e101a\">Senator Rosen directly brought these concerns to SBA&nbsp;<\/span><\/span><\/span><span style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\">Administrator Carranza and Treasury Secretary Mnuchin during a Small Business Committee conference call earlier this year, and&nbsp;<span style=\"color:#0e101a\">on June 10<sup>th<\/sup>,&nbsp;<a href=\"https:\/\/www.rosen.senate.gov\/es\/during-small-business-hearing-rosen-questions-treasury-secretary-mnuchin-sba-administrator-carranza\/\" style=\"color:#0563c1; text-decoration:underline\" target=\"_blank\" rel=\"noopener\"><span style=\"color:#954f72\">Senator Rosen publicly questioned the SBA Administrator<\/span><\/a><\/span>&nbsp;and Treasury Secretary&nbsp;on the SBA\u2019s limits on&nbsp;EIDL&nbsp;and&nbsp;EIDL&nbsp;Advance.<\/span><\/span><u1_p><\/u1_p><\/span><\/span><\/p>\n<p class=\"text-align-center\"><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\"><span style=\"color:black\">###<\/span><\/span><\/span><u1_p><\/u1_p><\/span><\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>Watch Senator&nbsp;Rosen\u2019s full remarks&nbsp;here. WASHINGTON, D.C.&nbsp;\u2013&nbsp;Today,&nbsp;during&nbsp;a&nbsp;hearing&nbsp;of the Senate Committee on Small Business and Entrepreneurship, U.S. Senator Jacky&nbsp;Rosen&nbsp;spoke with&nbsp;business leaders about her recently introduced&nbsp;bipartisan&nbsp;EIDL&nbsp;for Small Businesses Act, as well as the lack of access to capital and other issues that minority businesses enterprises (MBEs) or minority-owned small businesses have experienced during the coronavirus pandemic, and how [&hellip;]<\/p>","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[21],"class_list":["post-1310","post","type-post","status-publish","format-standard","hentry","category-press_release","tag-jobs-and-economy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>During Senate Small Business Committee Hearing, Rosen Discusses Her EIDL for Small Businesses Act, How Congress Can Support Minority-Owned Businesses - Jacky Rosen<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rosen.senate.gov\/es\/2020\/07\/23\/during-senate-small-business-committee-hearing-rosen-discusses-her-eidl-for-small-businesses-act-how-congress-can-support-minority-owned-businesses\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"During Senate Small Business Committee Hearing, Rosen Discusses Her EIDL for Small Businesses Act, How Congress Can Support Minority-Owned Businesses - Jacky Rosen\" \/>\n<meta property=\"og:description\" content=\"Watch Senator&nbsp;Rosen\u2019s full remarks&nbsp;here. WASHINGTON, D.C.&nbsp;\u2013&nbsp;Today,&nbsp;during&nbsp;a&nbsp;hearing&nbsp;of the Senate Committee on Small Business and Entrepreneurship, U.S. Senator Jacky&nbsp;Rosen&nbsp;spoke with&nbsp;business leaders about her recently introduced&nbsp;bipartisan&nbsp;EIDL&nbsp;for Small Businesses Act, as well as the lack of access to capital and other issues that minority businesses enterprises (MBEs) or minority-owned small businesses have experienced during the coronavirus pandemic, and how [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rosen.senate.gov\/es\/2020\/07\/23\/during-senate-small-business-committee-hearing-rosen-discusses-her-eidl-for-small-businesses-act-how-congress-can-support-minority-owned-businesses\/\" \/>\n<meta property=\"og:site_name\" content=\"Jacky Rosen\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-23T22:31:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-13T20:23:44+00:00\" \/>\n<meta name=\"author\" content=\"Reilly Lowery\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Reilly Lowery\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.rosen.senate.gov\/2020\/07\/23\/during-senate-small-business-committee-hearing-rosen-discusses-her-eidl-for-small-businesses-act-how-congress-can-support-minority-owned-businesses\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.rosen.senate.gov\/2020\/07\/23\/during-senate-small-business-committee-hearing-rosen-discusses-her-eidl-for-small-businesses-act-how-congress-can-support-minority-owned-businesses\/\"},\"author\":{\"name\":\"Reilly Lowery\",\"@id\":\"https:\/\/www.rosen.senate.gov\/#\/schema\/person\/20a03a641934935d4f3d4ef406539869\"},\"headline\":\"During Senate Small Business Committee Hearing, Rosen Discusses Her EIDL for Small Businesses Act, How Congress Can Support Minority-Owned Businesses\",\"datePublished\":\"2020-07-23T22:31:20+00:00\",\"dateModified\":\"2022-07-13T20:23:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.rosen.senate.gov\/2020\/07\/23\/during-senate-small-business-committee-hearing-rosen-discusses-her-eidl-for-small-businesses-act-how-congress-can-support-minority-owned-businesses\/\"},\"wordCount\":617,\"publisher\":{\"@id\":\"https:\/\/www.rosen.senate.gov\/#organization\"},\"keywords\":[\"Jobs and Economy\"],\"articleSection\":[\"Press Releases\"],\"inLanguage\":\"es-ES\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rosen.senate.gov\/2020\/07\/23\/during-senate-small-business-committee-hearing-rosen-discusses-her-eidl-for-small-businesses-act-how-congress-can-support-minority-owned-businesses\/\",\"url\":\"https:\/\/www.rosen.senate.gov\/2020\/07\/23\/during-senate-small-business-committee-hearing-rosen-discusses-her-eidl-for-small-businesses-act-how-congress-can-support-minority-owned-businesses\/\",\"name\":\"During Senate Small Business Committee Hearing, Rosen Discusses Her EIDL for Small Businesses Act, How Congress Can Support Minority-Owned Businesses - 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WASHINGTON, D.C.&nbsp;\u2013&nbsp;Today,&nbsp;during&nbsp;a&nbsp;hearing&nbsp;of the Senate Committee on Small Business and Entrepreneurship, U.S. Senator Jacky&nbsp;Rosen&nbsp;spoke with&nbsp;business leaders about her recently introduced&nbsp;bipartisan&nbsp;EIDL&nbsp;for Small Businesses Act, as well as the lack of access to capital and other issues that minority businesses enterprises (MBEs) or minority-owned small businesses have experienced during the coronavirus pandemic, and how [&hellip;]","og_url":"https:\/\/www.rosen.senate.gov\/es\/2020\/07\/23\/during-senate-small-business-committee-hearing-rosen-discusses-her-eidl-for-small-businesses-act-how-congress-can-support-minority-owned-businesses\/","og_site_name":"Jacky Rosen","article_published_time":"2020-07-23T22:31:20+00:00","article_modified_time":"2022-07-13T20:23:44+00:00","author":"Reilly Lowery","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Reilly Lowery","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.rosen.senate.gov\/2020\/07\/23\/during-senate-small-business-committee-hearing-rosen-discusses-her-eidl-for-small-businesses-act-how-congress-can-support-minority-owned-businesses\/#article","isPartOf":{"@id":"https:\/\/www.rosen.senate.gov\/2020\/07\/23\/during-senate-small-business-committee-hearing-rosen-discusses-her-eidl-for-small-businesses-act-how-congress-can-support-minority-owned-businesses\/"},"author":{"name":"Reilly Lowery","@id":"https:\/\/www.rosen.senate.gov\/#\/schema\/person\/20a03a641934935d4f3d4ef406539869"},"headline":"During Senate Small Business Committee Hearing, Rosen Discusses Her EIDL for Small Businesses Act, How Congress Can Support Minority-Owned Businesses","datePublished":"2020-07-23T22:31:20+00:00","dateModified":"2022-07-13T20:23:44+00:00","mainEntityOfPage":{"@id":"https:\/\/www.rosen.senate.gov\/2020\/07\/23\/during-senate-small-business-committee-hearing-rosen-discusses-her-eidl-for-small-businesses-act-how-congress-can-support-minority-owned-businesses\/"},"wordCount":617,"publisher":{"@id":"https:\/\/www.rosen.senate.gov\/#organization"},"keywords":["Jobs and Economy"],"articleSection":["Press Releases"],"inLanguage":"es-ES"},{"@type":"WebPage","@id":"https:\/\/www.rosen.senate.gov\/2020\/07\/23\/during-senate-small-business-committee-hearing-rosen-discusses-her-eidl-for-small-businesses-act-how-congress-can-support-minority-owned-businesses\/","url":"https:\/\/www.rosen.senate.gov\/2020\/07\/23\/during-senate-small-business-committee-hearing-rosen-discusses-her-eidl-for-small-businesses-act-how-congress-can-support-minority-owned-businesses\/","name":"During Senate Small Business Committee Hearing, Rosen Discusses Her EIDL for Small Businesses Act, How Congress Can Support Minority-Owned Businesses - 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