EIDL

SBA Recognizes 2024 Phoenix Award Winners of the Year for Outstanding Disaster Recovery Efforts

Retrieved on: 
Tuesday, April 9, 2024
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WASHINGTON, April 09, 2024 (GLOBE NEWSWIRE) -- Today,  Administrator Isabel Casillas Guzman , head of the U.S. Small Business Administration (SBA) and voice in President Biden’s Cabinet for America’s more than 33 million small businesses, recognized the 2024 Phoenix Award winners for outstanding disaster recovery efforts by a small business, public official, and volunteer.

Key Points: 
  • WASHINGTON, April 09, 2024 (GLOBE NEWSWIRE) -- Today,  Administrator Isabel Casillas Guzman , head of the U.S. Small Business Administration (SBA) and voice in President Biden’s Cabinet for America’s more than 33 million small businesses, recognized the 2024 Phoenix Award winners for outstanding disaster recovery efforts by a small business, public official, and volunteer.
  • “SBA’s 2024 Phoenix Award winners inspire us and remind us that even in the face of disaster, tragedy, or uncertainty, America at its core is about hope, possibilities, and an unwavering commitment to working together to strengthen our communities,” said Administrator Guzman.
  • “These honorees represent the power of determination and adaptability,” said Francisco Sánchez Jr. , Associate Administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration.
  • Jacqueline was first introduced to the SBA back in 2020, receiving an Economic Injury Disaster Loan (EIDL) due to the pandemic.

SBA Administrator Visits Baltimore for Bridge Collapse Aid

Retrieved on: 
Friday, April 5, 2024
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Administrator Guzman started the day hosting a roundtable alongside U.S.

Key Points: 
  • Administrator Guzman started the day hosting a roundtable alongside U.S.
  • Senator Ben Cardin, Congressman Kweisi Mfume, Baltimore Mayor Brandon Scott, and County Executive Johnny Olszewski to meet with small business owners affected by the Francis Scott Key Bridge collapse and hear about the challenges they are facing.
  • The leaders then joined Administrator Guzman for a tour of an SBA Business Recovery Center and spoke with local and national press about the SBA’s collaboration with federal, state, and local officials to mobilize resources to assist small businesses following the bridge collapse.
  • In the wake of the bridge collapse, the SBA has made low-interest, long-term Economic Injury Disaster Loans (EIDL) available to affected business owners in Maryland and contiguous counties in neighboring states to help them overcome temporary loss of revenue.

THURSDAY: SBA Administrator to Visit Baltimore, Discuss Economic Assistance Available for Businesses Affected by Bridge Collapse

Retrieved on: 
Wednesday, April 3, 2024
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Senator Ben Cardin, Congressman Kweisi Mfume, and Mayor Brandon Scott to meet with small business owners affected by the Francis Scott Key Bridge collapse and hear the challenges they are facing.

Key Points: 
  • Senator Ben Cardin, Congressman Kweisi Mfume, and Mayor Brandon Scott to meet with small business owners affected by the Francis Scott Key Bridge collapse and hear the challenges they are facing.
  • Senator Cardin, Rep. Mfume, and Mayor Scott will then join Administrator Guzman for a tour of an SBA Business Recovery Center and media availability.
  • In the afternoon, Administrator Guzman will join a press conference with Governor Wes Moore to provide an update on the SBA’s economic recovery efforts.
  • In the wake of the bridge collapse, the SBA has made low-interest, long-term Economic Injury Disaster Loans (EIDL) available to affected business owners to help them overcome temporary loss of revenue.

SBA Opens Two Business Recovery Centers to Support Small Businesses Amid Francis Scott Key Bridge Collapse

Retrieved on: 
Monday, April 1, 2024
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“Our Business Recovery Centers are one of the most powerful resources at SBA’s disposal to support business owners in the midst of a disaster,” said Francisco Sánchez, Jr., Associate Administrator for the SBA Office of Disaster Recovery and Resilience.

Key Points: 
  • “Our Business Recovery Centers are one of the most powerful resources at SBA’s disposal to support business owners in the midst of a disaster,” said Francisco Sánchez, Jr., Associate Administrator for the SBA Office of Disaster Recovery and Resilience.
  • “Business owners can meet in person with our specialists to apply for SBA disaster loans and get information on the full breadth of our programs designed to help them navigate their recovery.”
    On March 30, the SBA issued a disaster declaration covering counties affected by the Francis Scott Key Bridge collapse.
  • The declaration applies to small businesses, small agricultural cooperatives, small aquaculture businesses, and private nonprofit organizations.
  • Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email [email protected] for more information on SBA disaster assistance.

SBA Offers Economic Assistance to Mid-Atlantic Small Businesses Affected by the Francis Scott Key Bridge Collapse

Retrieved on: 
Saturday, March 30, 2024
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WASHINGTON, March 30, 2024 (GLOBE NEWSWIRE) -- Today, SBA Administrator Isabel Casillas Guzman announced that Mid-Atlantic small businesses affected by the Francis Scott Key Bridge collapse on March 26, 2024 may apply for low-interest, long-term Economic Injury Disaster Loans (EIDLs) from the U.S. Small Business Administration (SBA) .

Key Points: 
  • WASHINGTON, March 30, 2024 (GLOBE NEWSWIRE) -- Today, SBA Administrator Isabel Casillas Guzman announced that Mid-Atlantic small businesses affected by the Francis Scott Key Bridge collapse on March 26, 2024 may apply for low-interest, long-term Economic Injury Disaster Loans (EIDLs) from the U.S. Small Business Administration (SBA) .
  • “The SBA joins the entire federal family in grieving for the lives lost in the tragic collapse of the Francis Scott Key Bridge,” said Administrator Guzman.
  • The declaration applies to small businesses, small agricultural cooperatives, small aquaculture businesses, and private nonprofit organizations.
  • “The bridge collapse will impact small businesses who depend on the transportation and movement of goods from the Baltimore Harbor and along the Francis Scott Key Bridge for their economic livelihood,” said Francisco Sánchez, Jr., Associate Administrator for the SBA’s Office of Disaster Recovery and Resilience .

Statement by SBA Administrator Guzman on Anniversary of American Rescue Plan

Retrieved on: 
Monday, March 11, 2024
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WASHINGTON, March 11, 2024 (GLOBE NEWSWIRE) -- Today, Administrator Isabel Casillas Guzman , head of the U.S. Small Business Administration (SBA) and voice in President Biden’s Cabinet for America’s more than 33 million small businesses, issued the following statement on the anniversary of President Joe Biden’s American Rescue Plan:

Key Points: 
  • WASHINGTON, March 11, 2024 (GLOBE NEWSWIRE) -- Today, Administrator Isabel Casillas Guzman , head of the U.S. Small Business Administration (SBA) and voice in President Biden’s Cabinet for America’s more than 33 million small businesses, issued the following statement on the anniversary of President Joe Biden’s American Rescue Plan:
    “Three years ago, President Biden signed the American Rescue Plan which catalyzed our nation’s unprecedented economic recovery – the strongest of any of the world’s major economies.
  • Since then, the United States has enjoyed a historic Small Business Boom with a record 16.5 million new business applications , including 5.5 million in 2023 alone.
  • “None of this tremendous growth would have been possible without the American Rescue Plan and the critical role it played in not only saving but strengthening Main Streets across America.
  • “The American Rescue Plan is foundational to the Biden-Harris Administration’s Investing in America agenda, and small businesses are at the heart of the country’s unmatched recovery – historically creating two-thirds of net new jobs and over 40% of our nation’s economic output.

Readout of Day One of SBA Administrator Guzman’s Visit to Maui for 6-Month Assessment of Wildfire Recovery Efforts

Retrieved on: 
Friday, February 9, 2024
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She also participated in a meeting with federal and local officials to receive status updates and chart a path forward for long-term recovery efforts.

Key Points: 
  • She also participated in a meeting with federal and local officials to receive status updates and chart a path forward for long-term recovery efforts.
  • Later in the day, Administrator Guzman visited a Disaster Recovery Center (DRC) with Administrator Criswell to underscore the Biden-Harris Administration's whole-of-government response to the Maui wildfires.
  • Event Photos available upon request at: [email protected]
    Image Description: Administrator Guzman (L) participates in a long-term recovery meeting with federal, state, and local partners.
  • Image Description: Administrator Guzman (L) meets with SBA staff at a Disaster Recovery Center.

SBA Administrator Visits Maui on Six-Month Anniversary of Wildfires; Announces More Than $292 Million in Disaster Assistance Loans for Residents and Businesses

Retrieved on: 
Thursday, February 8, 2024
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“The SBA has directed more than $292 million in loans to small business owners, nonprofits, and renters seeking to rebuild their lives.

Key Points: 
  • “The SBA has directed more than $292 million in loans to small business owners, nonprofits, and renters seeking to rebuild their lives.
  • For small businesses and most private nonprofit organizations of all sizes, SBA offers Economic Injury Disaster Loans (EIDL) to help meet working capital needs caused by the disaster.
  • Disaster loans up to $500,000 were available to homeowners to repair or replace damaged or destroyed real estate.
  • Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email [email protected] for more information on SBA disaster assistance.

SBA Tops Nearly $40 Million in Disaster Assistance Loans for Those Impacted by Maui Wildfires

Retrieved on: 
Thursday, September 7, 2023
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SACRAMENTO, Calif., Sept. 07, 2023 (GLOBE NEWSWIRE) -- Today, SBA Administrator Isabella Casillas Guzman announced that the U.S. Small Business Administration (SBA) has approved nearly $40 million in federal disaster loans for Hawaii business owners and residents impacted by wildfires that began August 8.

Key Points: 
  • SACRAMENTO, Calif., Sept. 07, 2023 (GLOBE NEWSWIRE) -- Today, SBA Administrator Isabella Casillas Guzman announced that the U.S. Small Business Administration (SBA) has approved nearly $40 million in federal disaster loans for Hawaii business owners and residents impacted by wildfires that began August 8.
  • The SBA, through its Disaster Field Operations Center West (FOCW), has approved nearly $8 million for businesses and more than $30 million for homeowners and renters to help rebuild and recover from this disaster.
  • For small businesses and most private nonprofit organizations of all sizes, SBA offers Economic Injury Disaster Loans (EIDL) to help meet working capital needs caused by the disaster.
  • Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email [email protected] for more information on SBA disaster assistance.

SBA Announces Major Changes to Its Disaster Lending Program

Retrieved on: 
Friday, August 4, 2023
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Key changes being announced by the SBA include:

Key Points: 
  • Key changes being announced by the SBA include:
    Increase Loan Limits for Primary Residence: $200,000 to $500,000 for real estate repair or replacement, contractor malfeasance, refinancing, and mitigation for home disaster loans.
  • This change removes the burden for disaster survivors to begin making payments on their disaster loans before communities rebuild and recover.
  • Mitigation Disaster Loans: Eliminates a restriction on property owners to only use disaster loan funds to mitigate a "similar" disaster event that caused damage to their home or business.
  • Expand Eligibility to Consumer or Marketing Cooperatives: This change aligns disaster lending with SBA’s 7(a) and 504 business loan programs and allows these cooperatives to apply for the Economic Injury Disaster Loan (EIDL) and Military Reservist Economic Injury Disaster Loan (MREIDL) programs.