Dear Friends & Neighbors, 

I want to thank all of you for continuing to protect our community by staying at home and following the guidelines put forth by our public officials. I know that this crisis has put the Sacramento region under enormous strain, and I am fighting to make sure that no one is overlooked. 

Yesterday, April 23rd, the U.S. House of Representatives passed an interim emergency aid package, which allocates $484 billion of immediate support to our small businesses, healthcare heroes, and establishes a national testing strategy. These urgent measures are important to keep our country running during this difficult time and I will not stop working until we address the full scale of this crisis. I hear your stories, your voices, and I am taking Sacramento’s resilient spirit with me as we work to get even more support passed for the American people. 

SMALL BUSINESS RELIEF - PAYCHECK PROTECTION PROGRAM (PPP) & ECONOMIC INJURY DISASTER LOANS

I understand the financial strain this pandemic has caused Sacramento businesses, that is why I have been working to support and increase the relief for small businesses, including the latest: 

  • $310 billion for the Small Business Administration’s (SBA) Paycheck Protection Program, which will allow for additional forgivable loans to cover the cost of payroll and operating expenses for small businesses.
  • $60 billion for the SBA’s economic injury disaster loans and grants, including: 
    • $50 billion for economic injury disaster loans - each loan can be up to $2 million with interest rates not to exceed 4 percent and long-term repayment periods of up to 30 years; and
    • $10 billion for grants of up to $10,000 that do not have to be repaid. 
      Additional funds are provided for the SBA to administer these programs. 

HOW TO APPLY FOR SBA LOANS

Paycheck Protection Program (PPP)

You can find the application here to apply for the PPP through an eligible lender. If you do not know where to find an eligible lender, the SBA has created a tool, which can be found here

Economic Injury Disaster Loan Program 

The Economic Injury Disaster Loan program, administered by the SBA is available for businesses who have suffered substantial economic injury and are either a small business (less than 500 employees), small agricultural cooperative, or non-profit (churches are not eligible).

The SBA can provide up to $2 million per business to help meet the financial obligations and operating expenses that could have been met had the disaster not occurred. The loan amount is based on economic injury and financial needs.

The interest rate on these loans is 3.75 percent for small business and 2.75 percent for non- profits. The repayment term is determined by the businesses ability to repay the loan, up to a 30 year term. 

You can apply online here

TESTING, HOSPITAL AND HEALTHCARE ENHANCEMENT

The recent stimulus also included extra support for hospitals, healthcare providers and testing expansion, including:

  • $75 billion to support the heroes on the front lines of this crisis and our healthcare system, including additional funding to reimburse hospitals and healthcare providers for lost revenues and expenses related to the outbreak. 
  • $25 billion to expand testing, which will provide information on where cases are occurring, and support continued efforts to reopen communities and reignite our record-breaking economy. 

NEXT STEPS

It is undoubtedly an unprecedented time for all of us. Congress is not done with our work to support the people in our communities who need it most. We still need to get funds to our community heroes, our first responders and other essential workers who go into work everyday so that all of us can stay safe. I will be getting right back to work to make sure that funds get to all of the Americans who need it most. 

STAYING UP-TO-DATE

Please follow me on social media to learn the latest about what I am doing in response to COVID-19. I will also continue to provide regular updates through these newsletters going forward. Please pass this information along to friends and community members, or direct them to my website where all of this information will be posted after it is sent out. 

Please continue to engage digitally and through the phone to check up on family, friends and colleagues. We will all get through this crisis together by staying informed and lifting each other’s spirits!

Stay Well and Keep Healthy!

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Stay well and keep healthy!

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