Emergency Coronavirus Loans Needed For Small Businesses, Ducey Says

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Gov. Doug Ducey announced on Wednesday that he had sent a letter requesting a special emergency federal government loan for Arizona small businesses that would help them amid the coronavirus pandemic.

The governor sent the letter Tuesday to the US Small Business Administration, an agency that provides loans and lines of credit to small businesses, requesting an “economic disaster loan statement.”

Ducey is not the first governor to do so.

Colorado Governor Jared Polis also requested similar federal funding yesterday. The agency can provide up to $ 2 million.

Ducey’s letter requests that the loans be used for Apache, Cochise, Maricopa, Pima and Yavapai counties.

“Businesses across the state have already suffered significant economic losses and are expected to continue to lose revenue as a result of this pandemic,” Ducey wrote in the letter.

On Tuesday, Phoenix and Tucson both closed all bars and severely restricted access to restaurants, banning on-site dining, in a bid to stop the spread of the coronavirus, which causes the COVID-19 disease.

President Donald Trump and Senator Marco Rubio have already requested $ 50 billion in loans from the agency which approved $ 30 billion in grants last year, according to CNBC.

“The Arizona small business community is grateful to Governor Ducey for prioritizing the health and safety of the Arizonans while supporting businesses affected by COVID-19,” said Chad Heinrich, director of the Arizona State’s National Federation of Independent Businesses, in a statement to Arizona mirror. “Without a doubt, these difficult times will have a big impact on our economy and the livelihoods of workers across the state. This relief will go a long way to right the damage done and to protect Arizona families.”

The Phoenix Chamber of Commerce said it also supports Ducey’s decision.

“Ensuring small businesses have access to emergency resources right now is a top priority for the House,” said Mike Huckins, Phoenix House vice president of public affairs, in a mailed statement. electronic at Mirror.

At a press conference with Ducey, Kimber Lanning, founder of a nonprofit Local First Arizona, said the organization is preparing to help small businesses complete loan applications if and when Arizona receives approval for coronavirus loans.

“Small businesses are the backbone of Arizona’s economy. It’s crucial that we show up for them now, ”Lanning said, recalling stories she heard of local hotels that have already seen their revenues drop to six figures and catering companies that have lost all of their money. contracts.

Lanning encouraged members of the public to help by ordering food to be picked up or delivered to independent local restaurants. Those who cannot do so should share stories from great local businesses to support them, she said.



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