Congresswoman Elaine Luria announced her office’s Small Business Hotline to assist constituents who have questions regarding the Small Business Administration’s rollout of the Paycheck Protection Program (PPP) and advise local small business owners seeking economic relief through implementation of the CARES Act. This hotline number will go directly to a dedicated staffer on her team who specializes in small business assistance and economic relief programs within the CARES Act. Small business owners can contact Congresswoman Luria’s Small Business Hotline by dialing (757)-364-7632.
Small businesses employ 115,00 Coastal Virginians and are the backbone of our local economy. My office stands ready to assist them with navigating red tape to ensure that they receive the economic relief and informational resources they desperately need during this crisis,” said Congresswoman Elaine Luria. “As a former small business owner, I share the frustrations felt by small business owners across Hampton Roads who are relying on these economic relief programs to weather this crisis. This hotline will provide them a direct line of communication to my office so that we can provide the information and support they need.”
Last month, Congresswoman Luria supported the CARES Act, which established the Paycheck Protection Program (PPP). This program provides small businesses and nonprofits forgivable loans to cover payroll and other costs over an eight-week period. Unfortunately, the execution of this program has been problematic. Local business owners have recounted difficulties in applying for and receiving a loan. In addition, banks are contending with confusing and constantly changing guidelines on the loan submission process.
In response to these concerns, Congresswoman Elaine Luria additionally demanded answers this week from the Small Business Administration (SBA) regarding the problematic rollout of the Paycheck Protection Program (PPP), which has resulted in a delay of loan relief to her district. In her letter, Congresswoman Luria asks Administrator Carranza what steps are being taken to make it easier and faster for small businesses and lenders to submit PPP applications. She also asks if small business owners will receive notifications regarding the status of their application and when they will receive funds.