Following Hurricane Helene’s catastrophic damage throughout Florida’s gulf coast, U.S. Senator Marco Rubio (R-FL) met with the Florida Farm Bureau as well as local agricultural producers, farmers, and growers to discuss the storm’s impact. Photos are courtesy of...
Following Hurricane Helene’s catastrophic damage throughout Florida’s Gulf Coast, U.S. Senator Marco Rubio (R-FL) met with local officials and volunteers from the barrier islands to discuss the storm’s impact and current recovery efforts. Photos are courtesy of...
Hurricane Helene made landfall as a Category 4 storm, causing catastrophic damage along Florida’s Gulf Coast. It’s crucial for the federal government to expedite state-requested resources and authorize key policy flexibilities in order for Floridians to make a swift...
U.S. Senator Marco Rubio’s (R-FL) office will host two in-person events to assist constituents affected by Hurricane Helene and help navigate applications for FEMA assistance. Food, water, and additional resources will be available at the events. Event...
U.S. Senator Marco Rubio’s (R-FL) office will host in-person and virtual Mobile Office Hours next week to assist constituents with federal casework issues in their respective local communities. These office hours offer constituents who do not live close to one of...
Following the impacts of Hurricanes Helene and Debby, some local governments in Florida face looming budget shortfalls that could disrupt disaster recovery efforts. If these local governments receive reimbursements for past hurricanes from the Federal Emergency...
Washington, D.C. — U.S. Senators Marco Rubio (R-FL) and Jim Risch (R-ID), Chairman and former Chairman of the Senate Committee on Small Business and Entrepreneurship, along with Senators Susan Collins (R-ME) and Josh Hawley (R-MO), introduced the Small Business Access to Recovery Capital Act. The legislation would provide expanded relief measures to the 7(a) loan program for one year to help businesses cope with challenges posed by the COVID-19 pandemic.
“The SBA’s 7(a) loan program is critical in providing flexible working capital to small businesses,” said Chairman Rubio. “These relief measures would ensure that firms can access long-term loans that provide much needed financial stability as they recover from the economic impacts of the pandemic. I am proud to partner with my colleagues to make this program meet the needs of today’s small businesses.”
“Until Congress can pass comprehensive COVID-19 relief, small businesses need access to capital to keep their doors open and their employees compensated,” said Senator Risch. “This common-sense legislation will make low-interest loans available to Idaho’s small businesses who are unable to access lines of credit until additional relief is available.”
“Small businesses are the engine of our economy, but the COVID-19 pandemic is tragically forcing many families to close the doors to their small businesses that they have spent years or even generations to build,” said Senator Collins. “As the co-author of the Paycheck Protection Program, I have worked to help small businesses stay afloat and continue paying their employees. This bipartisan bill would provide additional assistance for small businesses to weather this public health and economic crisis.”
“Small businesses are the backbone of our economy, and it is vital Congress pass legislation to provide relief to them and working families who have suffered thanks to the coronavirus pandemic,” said Senator Hawley. “This legislation will expand access to working capital for small businesses through the 7(a) lending program to help keep businesses afloat and secure wages for their employees.”
The Small Business Access to Recovery Capital Act would expand small business’ access to the 7(a) Loan Guaranty program for one year by:
For bill text, click here.