Washington – Today Rep. Mike Thompson (CA-05) announced the introduction of the Small Business Disaster Relief Act of 2019, a bill to improve the Small Business Administration’s (SBA) ability to serve small businesses that have been impacted by disasters.
“Ensuring small businesses in our communities can rebuild after disasters is a key part of ensuring our local economies can come back even stronger,”said Thompson. “That’s why I am introducing the Small Business Disaster Relief Act which increases the flexibility of grant funding available through the SBA and improves the SBA’s ability to help small businesses get back on their feet after disasters such as the wildfires that have devastated our communities the past few years. I will continue to do everything I can to bring back federal dollars and resources to help our community recover.”
This legislation would give the SBA and the U.S. Department of Agriculture’s Farm Service Agency more flexibility in setting the terms and conditions of disaster loans to businesses vital to recovery such as debris removal, gasoline supply, and telecommunications. It would also authorize SBA to make grants to small business development centers to provide technical assistance to small businesses after a disaster, and encourage SBA to use local district offices to expedite the processing of disaster loan applications.