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06/17/2021 02:38 PM
Pennsylvania House of Representatives
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=H&SPick=20210&cosponId=34401
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House of Representatives
Session of 2021 - 2022 Regular Session

MEMORANDUM

Posted: January 26, 2021 11:52 AM
From: Representative Steven R. Malagari
To: All House members
Subject: Local Business COVID-19 Loan Interest Grant Program
 
The COVID-19 pandemic has been devastating to local businesses in our communities across the state, which in turn is having a harmful impact on our local economies. Our local businesses are struggling to stay afloat, many have been forced to reduce their operations or suspend them completely. These businesses have relied on a variety of loans, incurring large debt, to prevent them from shutting their doors.

This is why I am proposing a grant program that will help pay interest on any loan that was taken out to save a local business. This grant program will help significantly reduce interest owed on these loans taken during the COVID-19 disaster emergency to ensure the livelihood of so many businesses in our communities.

Our local businesses will be carrying a large amount of debt as we recover from the pandemic. We must stand with them during the difficult times ahead. Please join me in supporting this vital legislation for our community businesses.



Introduced as HB1063