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Coons, Sanders push Trump administration for aid to nonprofits, small businesses

Delaware News Desk
Smyrna/Clayton Sun-Times

Sens. Chris Coons, D-Delaware, Bernie Sanders, I-Vermont, Chuck Schumer, D-New York, and Ben Cardin, D-Maryland, sent a letter April 2 to Small Business Administration Administrator Jovita Carranza, urging swift implementation of small business programs included in the Coronavirus Aid, Relief, and Economic Security, or CARES Act, and designed to help the nation’s small businesses and nonprofits stay afloat during this unprecedented crisis.

The senators’ letter follows their March 31 call with Carranza, during which they discussed the implementation of these programs.

The senators emphasized that COVID-19 has wreaked havoc on employers and their workers across every industry and in every corner of the nation, leaving many small businesses struggling to absorb the significant loss of revenues caused by this public health crisis, and requires immediate, aggressive action by the federal government.

Coons, Sanders, Schumer and Cardin requested the release of clear and comprehensive guidance clarifying how small businesses and nonprofits can receive timely assistance from the SBA, including an implementation timeline and information on how businesses can access these programs and how lenders can facilitate loans; details on how SBA is coordinating with the Treasury Department to expedite the addition of new lenders to the certified SBA 7(a) lenders network; a commitment from SBA to a weekly report on loan program results; additional information regarding nonprofit eligibility and affiliation rules; additional guidance on SBA plans to ensure small, disadvantaged and underserved businesses receive assistance; and information on debt relief for borrowers and operation of the Emergency Economic Injury Grant program.

Full text of the letter is available bit.ly/2xK1n0j.