HENRICO, V.A. – U.S. Representative Abigail Spanberger will host a telephone town hall on Thursday, April 2 with a regional representative from the U.S. Small Business Administration to discuss the impacts of COVID-19 on Central Virginia workers and small businesses, as well as the resources currently available to them.
Last Friday, Spanberger voted to pass the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a bipartisan emergency relief package signed into law by President Trump that includes strengthened federal assistance to working families and small businesses amid the coronavirus pandemic. During Spanberger’s telephone town hall on Thursday, she will deliver a brief update on provisions in the CARES Act that provide financial relief to businesses and workers, take constituent questions about the local financial effects of the pandemic, and hear an update from Carl B. Knoblock from the Richmond District Office of the U.S. Small Business Administration.
“Just as it has in communities across the country, COVID-19 has devastated the Central Virginia economy. Our working families and small businesses have been left in a state of extreme uncertainty, and they need immediate assistance. My office has already received hundreds of questions from families and businesses about recent steps taken by the federal government, and I hope this telephone town hall will serve as an opportunity to answer additional questions and provide an avenue to share personal experiences,” said Spanberger. “In the months to come, our economic recovery will require all of our region’s businesses to work together to make it through this crisis. As this pandemic continues, I’ll keep fighting to make sure our workers and businesses have the financial resources and support they need to succeed when their doors eventually reopen.”
WHO: U.S. Rep. Abigail Spanberger; Carl B. Knoblock, Richmond District Director, U.S. Small Business Administration
WHEN: 7:40pm-8:40pm ET, Thursday, April 2, 2020
DETAILS: To join the interactive telephone town hall, constituents should dial-in to 855-920-0555. To listen live to the conversation, Central Virginians can go to /live during the event.
Yesterday, Spanberger released a small businesses resource guide to help Central Virginia small businesses navigate the financial impacts of COVID-19. Click here to download the small businesses resource guide.
Spanberger has worked to keep Central Virginians informed throughout the coronavirus pandemic. Earlier this month, Spanberger hosted a telephone town hall on the coronavirus outbreak with local healthcare experts from the University of Virginia, Virginia Department of Health, and Mary Washington Healthcare. More than 2,000 Central Virginians dialed in to participate in the town hall remotely. Click here to listen to the full telephone town hall.
The CARES Act includes $349 billion in low-interest loans for small businesses. These loans will be available to any business with 500 or fewer employees—and loans will be available during a covered period for independent contractors, self-employed workers, and sole proprietors.
The legislation also includes a provision establishing a Paycheck Protection Program for small businesses to seek loans guaranteed through the Small Business Administration (SBA). Recipients of these loans could apply for loan forgiveness related to payroll costs, rent, utilities, and mortgage interest. If a business fires employees or cuts employee pay, this loan forgiveness would be reduced. Additionally, the CARES ACT provides an additional $10 billion for the SBA’s disaster loan program through the end of 2020.
Spanberger recently announced that Central Virginia businesses can now apply for low-interest, emergency loan assistance through the SBA.