You are reading

President Trump Signs Rep. Meng’s Bill to to Assist Small Businesses Harmed by Coronavirus Fears

Photo: Grace for New york

March 9, 2020 By Allie Griffin

A bill introduced by Queens Representative Grace Meng to assist small businesses harmed by fears of the coronavirus outbreak became law last week — as part of a $8.3 billion emergency spending package.

The bill, also sponsored by New York Rep. Nydia Velázquez and California Rep. Judy Chu, allows small businesses economically burdened by the outbreak and resulting hysteria to access Economic Injury Disaster Loans of up to $2 million.

The interest-free loans cover operating expenses and other costs that would otherwise have been met if it weren’t for the virus’ spread.

Last month — before New York City had any known cases of coronavirus — the Flushing Chinese Business Association estimated that business was down as much as 40 percent in the Flushing neighborhood.

Rep. Meng, the First Vice Chair of the Congressional Asian Pacific American Caucus (CAPAC), said she has heard from many Asian American-owned small business owners in her district that are “severely struggling” from concerns over the coronavirus.

Under the new law, the Small Business Administration (SBA) could receive up to $7 billion in funding to provide loans to small businesses that are suffering due to the coronavirus outbreak.

The spending package also includes more than $3 billion for research and development of vaccines and diagnostics and $300 million to ensure access to affordable vaccines.

It also provides $2.2 billion in public health funding for prevention, preparedness and response —including $950 million to support state and local health agencies, and nearly $1 billion for medical supplies, community health centers and medical surge capacity.

The package also provides $1.25 billion to address the coronavirus abroad.

email the author: news@queenspost.com

2 Comments

Click for Comments 

Leave a Comment
Reply to this Comment

All comments are subject to moderation before being posted.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Recent News

Corona man convicted of murder-for-hire in fatal shooting outside a Flushing karaoke bar in 2019: Feds

A Corona hitman was found guilty of killing a man outside a Flushing karaoke bar in exchange for a $100,000 wristwatch in 2019.

Antony Abreu, 36, was convicted by a federal jury on Tuesday on both counts on an indictment charging him with murder-for-hire and murder-for-hire conspiracy in connection to the fatal shooting of 31-year-old Xin “Chris” Gu at the Grand Slam KTV on Fowler Avenue on Feb. 12, 2019.

Flushing man indicted in fatal collision that killed 10-year-old boy in East Elmhurst last month: DA

A Flushing man was indicted by a Queens grand jury in a fatal collision that killed an 8-year-old boy in East Elmhurst last month.

Jose Barcia, 52, is accused of speeding through a crosswalk while making a left turn, killing Bayron Palomino Arroyo and injuring his 10-year-old brother Bradley on Mar. 13. The grand jury indictment was filed on Apr. 18, and Barcia will be arraigned on May 2, according to Queens District Attorney Melinda Katz.