Representative Kathleen Rice (NY-04) announced that the Paycheck Protection Program (PPP) has helped keep 96,682 Long Islanders on payroll in New York’s Fourth Congressional District, according to newly released data by the U.S. Small Business Administration (SBA). The PPP was created in the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act, which Rice supported, in order to provide small businesses, non-profit organizations, independent contractors and other entities with zero-fee loans to retain employees and their salaries during the COVID-19 outbreak. More than 11,000 of the loans issued in NY-04 were for less than $150,000.
The newly released PPP data coincides with a report released by Nassau and Suffolk Counties projecting that Long Island could lose up to 28% of its jobs by December 31 because of the COVID-19 outbreak.
“Thanks to the SBA finally releasing this information, Long Islanders can see the data on how the PPP has aided small businesses here in our communities,” said Rep. Kathleen Rice. “While the program has not been without its issues and shortcomings, it has proven to be a critical lifeline for thousands of local businesses struggling to get through the pandemic. However, it remains clear that small businesses are still in need of further federal relief and jobs are still at risk. I will continue working closely with our small business community o ensure Congress is providing the resources needed for Long Island’s economy to come back even stronger than before.”
“Uniondale has more businesses than any other community in the Town of Hempstead and possibly all of Nassau County. We have been one of the hardest hit by the pandemic,” said Mariano Ugalde, President of the Uniondale Chamber of Commerce. “Without the PPP program we would have been decimated. Congresswoman Kathleen Rice and her office has been a lifeline of information and support. No other elected official has done more for Uniondale during these trying times.”
“Throughout this pandemic the biggest challenge was to bring resources to local businesses who were hard hit by the shutdown,” said Eric Alexander, Director of Long Island Main Street Alliance and Vision Long Island. “The SBA’s PPP has been a tremendous resource when folks have access to the program. Kudos to Congresswoman Rice for being a strong advocate insisting that the program focus on smaller business and for outreaching to local downtown communities for this program and other services.”
“The SBA Paycheck Protection Program keeps employees of small businesses and non-profits receiving their paychecks and off unemployment rolls during the pandemic. Over 60,000 PPP loans of private capital, backed by the federal government, have been issued so far in Nassau and Suffolk Counties, retaining more than 575,000 jobs. In the true spirit of entrepreneurship, small businesses across Long Island and Metro New York continue to demonstrate they are resilient and stronger than COVID-19,” said SBA New York District Director Beth L. Goldberg, who oversees the nation’s largest SBA field office encompassing the 14 counties of Long Island, New York City and the Lower Hudson Valley.
To help small businesses in NY-04 with navigating PPP, the Economic Injury Disaster Loan (EIDL) and other relief programs, Rice has been hosting weekly public conference calls with the SBA’s New York District Office. The next call is scheduled for Tuesday, July 14th at 12 pm. For call details, please email [email protected].
“Rep. Rice’s weekly small business conference calls have connected so many local businesses to much needed resources and help,” said Magdalena Chen, President of the Covert Avenue Chamber of Commerce. “During this pandemic all of our merchants on Covert Ave really got to know Rep. Rice on a level most constituents don’t get to know their elected officials and that is such a refreshing and wonderful gift that she gave to us. Her efforts have not only impacted our merchants in such a supportive and uplifting manner, but has also preserved the interconnection of our communities and way of life.”
Further information on the use of PPP loans in NY-04 can be found by clicking here.
