Rep. Sherrill Leads Members of New Jersey Delegation in Request for Economic Injury Disaster Loan Declaration to Help NJ Small Businesses
Parsippany, NJ -- Today, Representative Mikie Sherrill (NJ-11) led members of the New Jersey delegation in a successful request for an Economic Injury Disaster Loan (EIDL) declaration from the U.S. Small Business Administration. New Jersey submitted its full application to the U.S. Small Business Administration and was awarded a declaration this evening.
The letter was signed by Representative Sherrill, Senator Cory Booker, and Representatives Frank Pallone, Jr., (NJ-08), Bill Pascrell, Jr., (NJ-09), Tom Malinowski (NJ-07), Christopher H. Smith, Jr., (NJ-04), Jeff Van Drew (NJ-02), and Bonnie Watson Coleman (NJ-12).
The letter is available for download here and the full text is below:
March 18, 2020
U.S. Small Business Administration
409 3rd St, SW
Washington DC 20416
Dear Administrator Carranza:
It is our understanding that New Jersey has submitted its full application to the U.S. Small Business Administration to request an Economic Injury Disaster Loan (EIDL) declaration. We are writing today to ask that you swiftly review the New Jersey EIDL application, so that we can provide our small businesses with access to get urgently needed capital.
As a result of COVID-19, our small business community in New Jersey is facing imminent and potentially devastating cash flow issues. We have heard from a wide variety of small businesses in our districts including manufacturers, restaurants, warehouse suppliers, event planners, travel agencies, construction contractors, and more who are being adversely affected. The Economic Injury Disaster Loan program is a vital piece of any plan to provide small businesses in our communities the financial relief they need.
We respectfully request that the U.S. SBA expedite their review of New Jersey’s request in an effort to make these crucial loans available as soon as possible as our small businesses grapple with the impact of the COVID-19 pandemic.