Mar 20 2020
As Virginia begins to feel the major economic impacts of the coronavirus outbreak, I am focused on making sure small businesses and their workers have the support they need to get through this crisis.
That’s why I’m writing to update you on important new resources that just became available to small businesses who are suffering from the economic effects of the coronavirus outbreak. Virginia recently received a statewide disaster declaration from the Small Business Administration (SBA), unlocking emergency long-term, low-interest loans for small businesses.
If you are a small business owner who needs assistance during this outbreak I encourage you to take action immediately. First, read this SBA fact sheet. Then, visit the SBA website to begin your application.
My office stands ready to help however we can during this time. If you run into a problem once you have submitted your application, or if you need help with another issue related to the federal government, I encourage you to contact my office at: 202-224-2023.
I also want to give you a brief update on what I am working on in the Senate to deal with this crisis:
Earlier this month, I voted to pass a bipartisan $8.3 billion emergency funding bill to make sure Virginia has the resources it needs to combat the coronavirus outbreak.
On Wednesday, I voted to pass to a second coronavirus economic relief package that guarantees free coronavirus testing and expands benefits for Americans impacted by this crisis.
I am also working to ensure loan forbearance is available to businesses and individuals. So far, I have successfully pushed bank regulators to ease restrictions that would prevent banks from offering this assistance.
This week, I put forward a proposal to create a coronavirus liquidity facility that would provide low-interest loans to small and medium-sized businesses, including potential loan forgiveness and other incentives to keep businesses open and keep workers on the payroll.
On March 11, I joined with my colleagues in a letter to the IRS urging them to extend the tax-filing deadline. Today, IRS pushed the tax filing deadline from April 15 to July 15, giving taxpayers and small businesses additional time to file and make payments without interest or penalties. For more information you can visit the IRS’ Coronavirus Tax Relief page.
For a complete list of my actions in response to the coronavirus outbreak, please visit the coronavirus updates page on my website.
As someone who's spent more time in business than I have in the Senate, I know this is an exceptionally tough time for businesses and their workers. We will get through this, and I’m doing everything I can to try to make sure no one loses a job, misses a paycheck, or is forced to close down their business because of this crisis.
If you want to share your thoughts about an issue that’s important to you, you can send me an email any time using the form on my Senate website. You can also follow me on Facebook and Twitter. I look forward to hearing from you.