Congressman Van Drew Votes in Support of Additional Funding for Small Businesses and Coronavirus Response

Statement

Today, Congressman Van Drew voted in support of additional funding for programs designed to only be utilized by small businesses and those on the frontlines of healthcare in their time of need during the COVID-19 pandemic. This legislation is an additional influx of funds into programs designed to keep small businesses and their employees with much-needed resources during this difficult period. Congress is beginning to start discussions on more sweeping aid in a fourth legislative package that will be determined in the coming weeks. Included in this current legislation are:

$310 billion for the Paycheck Protection Program
$30 billion for smaller and community lenders carved out for lenders with between $10-50 billion in assets
$30 billion for Community Financial Institutions, Small Insured Depository Institutions, and Credit Unions with assets less than $10 billion
$75 billion for hospitals and healthcare facilities
$25 billion for COVID-19 testing.
$50 billion for Emergency Disaster Loans
$10 billion for the emergency advance portion.
"Congress and the agencies we oversee must ensure these precious funds go to help those in need, not corporations or institutions that already have access to money," said Congressman Van Drew. "While we still have work to do and further to go, this should provide some temporary assistance to those most in need."

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