Entrepreneurs recovering from a disaster can't wait for traditional sources of financing before rebuilding their businesses; neither can the American consumers who depend on their goods and services to get their lives back on track. The goal of the Small Business Administration (SBA) in times of disasters should be to facilitate a quick economic recovery through their disaster loan program.
Following Hurricanes Katrina and Rita, Senator Landrieu heard from countless Louisiana businesses that were frustrated by the government's response to the storms. Seeing the need for significant change, Sen. Landrieu and the Committee on Small Business and Entrepreneurship took swift action to enact significant bipartisan disaster assistance reforms to the SBA. Changes included creating a more responsive and transparent SBA, increasing SBA disaster loan limits, giving the agency new tools to quicken the loan disbursal process and reducing the red tape that plagued the agency following Katrina and Rita.
Sen. Landrieu, along with Ranking Member Snowe, remain committed to assuring that small businesses in dire straits receive immediate help in times of natural, terrorist and economic disasters. Sen. Landrieu also protects the interests of all disaster victims through her chairmanship of the Senate Disaster Assistance Recovery Subcommittee and ensures the government has the resources needed to respond quickly and responsibly to crises as a member of the Senate Appropriations Committee.
Please check our Resources page to learn more about how you can prepare for a disaster or get help once a disaster strikes your business.
Issue Related Press Releases
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|2/22/21||Cardin Lauds Biden-Harris Administration Actions to Increase Relief to Underserved and Underbanked Small Businesses|