Amata Highlights Continued EIDL Loans
Washington, D.C. – Tuesday, Congresswoman Aumua Amata updated the status of the Small Business Administration (SBA) economic aid for American Samoa's small businesses and nonprofits, now at $23,427,386.
"The EIDL loans are still available and local businesses are continuing to access this assistance," said Aumua Amata. "I strongly support restarting the PPP aid in September as well to renew those options for our economy."
American Samoa's total is now over $23.4 million in the two programs that have combined for 449 local loans. Loans are ongoing in the Economic Injury Disaster Loans (EIDL) program, but paused in the Paycheck Protection Program (PPP).
Congress twice extended the PPP since creating the program in March as part of the historic CARES Act. The program helped small businesses and nonprofits survive and keep people employed. While it was designed as a temporary program, Congresswoman Amata and many Members of Congress have publicly supported renewing the program a third time to counter the economic effects of the government's COVID-19 efforts.
Chairman Marco Rubio of the Senate Small Business Committee was a leader in creating PPP in the CARES Act
"Our local economy benefits from these programs, and I will continue to urge an extension next month," continued Amata.
PPP Loans: The last report was 296 total loans for a sum of $12,233,986.
EIDL Loans: The new total is 153 loans at a sum of $10,018,400.
EIDL Advances: The final total was 204 approved for a sum of $1,175,000, an average of $5,813 per advance.
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