Amata Welcomes News of 61 SBA Assistance Loans in American Samoa
Washington, D.C. – Monday, Congresswoman Aumua Amata is welcoming news of 61 successful CARES Act assistance loans for employers in American Samoa through the Small Business Administration's Paycheck Protection Program.
"These funds help keep the small businesses we need and appreciate going, and that's what Congress created the program to do," said Aumua Amata. "This is another $3.65 million in our local economy, but it's targeted at the exact survival needs of these employers, their basic operating and payroll. Thank you to each of these businesses for soldiering on and making tough decisions."
In American Samoa with 5 US Senators who were key to the CARES Act through Committee or leadership roles (file photo)
The Paycheck Protection Program (PPP) was started by the recent CARES Act in direct response to the pandemic. Nationally, over 70 percent of the loans are for under $50,000 each to help small businesses.
"This steep increase in approved forgivable assistance and loans shows our local small businesses can feel the benefits of this important program," said Congresswoman Amata. "The Trump administration and SBA Administrator Jovita Carranza put this program in place quickly since the CARES Act to preserve jobs and stabilize our economy. The second round of PPP funds was modified to reach underserved and remote communities like ours. Congress is thoroughly discussing continued relief efforts, and I will work to continue including our islands' needs."
The second round of PPP loans remains available. Applicants can check the status of a disaster loan application or advance, by calling SBA's Customer Service Center at (800) 659-2955 or emailing disastercustomerservice@sba.gov.
Most informational inquiries should start here: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program
Other resources:
Coronavirus.gov Small Business Resources Page
Treasury Department Overview On The Paycheck Protection Program
UPDATED: Administration FAQ On The Paycheck Protection Program
SBA.gov/Coronavirus Small Business Guidance & Loan Resources Page
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