NEWSLETTER: Small Business Loans & Unemployment Compensation
These past few weeks have been challenging but I am so grateful to all of you who are doing your part to practice social distancing to keep our community safe and flatten the curve. I am especially grateful to our health care professionals, first responders, grocery store clerks, postal workers, and emergency crews who go above and beyond the call of duty every day to keep us safe.
I wanted to take a moment to share some important resources with you that might be helpful as we navigate this unprecedented time.
Below you will find information regarding unemployment insurance applications and small business loans.
As always our office is here to help and answer any questions you might have. Give us a call at 610–626–2020 or visit us online at scanlon.house.gov. Hearing your stories helps me advocate for federal resources, so please don’t hesitate to give us a call if you’re having trouble.
Small Business Disaster Loans
Pennsylvania small businesses are eligible for state and federal programs to help them weather this difficult time. The U.S. Small Business Administration Economic Injury Disaster Loans provide low-interest, long-term loans to businesses and private non-profit organizations. To apply for an EIDL, go to disasterloan.sba.gov/ela. Detailed application information can be found here or at the above website.
The Commonwealth of Pennsylvania has also established a COVID-19 Working Capital Access Program to provide financing of up to $100,000 to PA small businesses adversely affected by the outbreak. More information on eligibility and how to apply can be found here.
Additionally, under legislation passed by the House and Senate, an additional $349 billion is now available through the SBA’s 7(a) loan program, with specific provisions to help businesses and nonprofits continue operations during COVID-19. Businesses can apply for loans up to $10 million, and any portion of the loan used to retain employees or for operational expenses such as rent, mortgage, or utility payments will be forgiven.
If you apply, please go to scanlon.house.gov/contact and send us an email to let us know.
I was proud to advocate for increased financial support for Pennsylvanians laid off because of this pandemic. I am relieved to report legislation passed by the House and Senate expands unemployment insurance to cover the self-employed and independent contractors. The benefits will now last for up to 39 weeks, with payments from now until July 31, 2020 increased by up to $600 a week.
Applications for unemployment insurance will still run through the state government. Unfortunately, due to the volume of applicants we have heard reports of long wait times on the phones. Please be patient, it is best to get your application in as soon as possible to prevent any delay in processing. Go to http://uchelp.org/covid19 to learn more about the application process and see if you qualify.
As always, when more information becomes available we will be sure to update you in real time.
I will not stop fighting for the families, workers, and small businesses of my district. We will get through this, together.