02.10.16

Peters, Stabenow & Kildee Applaud Small Business Administration Disaster Declaration, Office Hours for Flint Businesses

WASHINGTON, D.C. – U.S. Senators Gary Peters (D-MI) and Debbie Stabenow (D-MI) and Congressman Dan Kildee (D-MI) applauded the Small Business Administration’s (SBA) quick approval of an Economic Injury Disaster Loan declaration for Genesee County and the City of Flint to provide loans for eligible businesses that have been adversely affected by the Flint water crisis. Last month the members sent a letter urging Governor Snyder to request SBA assistance for struggling Flint businesses. SBA also announced today they will open a Flint Business Recovery Center that will hold office hours to provide additional assistance for Flint businesses from Wednesday, February 10th through Thursday, February 25th. The Business Recovery Center will operate out of the Oak Business Center at 2712 Saginaw Street and its hours are Monday-Friday from 8:00AM to 5:00PM.

“Small businesses in Flint, especially restaurants, bars and others in the hospitality industry, have seen a drop off in customers and revenue due to contaminated water even as they have installed filtration systems to ensure their products are safe. The water crisis has exacerbated the economic hardships already facing the Flint community,” said Senator Peters. “I was pleased to work with Senator Stabenow and Congressman Kildee to help facilitate this assistance for Flint businesses so they can keep their doors open throughout this crisis.”

“There is no question that the Flint water crisis has hurt the bottom lines of our small businesses,” said Senator Stabenow. “The new SBA recovery center will give them a place to get the help they need to get through this crisis and prosper.”

“I applaud the swift action by the Obama Administration to support small businesses in Flint. I’ve met directly with Flint business owners who have shared with me their daily struggles to keep the doors open through this ongoing crisis. These federal loans will help put Flint on a road to recovery,” Congressman Kildee said.

Under an Economic Injury Disaster Loan declaration, eligible businesses and non-profits are able to apply for up to $2 million in long term, low interest loans, depending on their circumstances. These loan proceeds can then be directed to working capital needs like making payroll or replacing inventories. Loan applications will be accepted through November 7, 2016.

 

 

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