Manatee Review

Today, Congressman Vern Buchanan, co-chair of the Florida delegation, led a bipartisan effort urging Congressional leaders to allocate significant new funding for the Small Business Administration's (SBA) disaster loan program. This move follows three devastating hurricanes that have affected the southern United States, prompting the SBA to announce it can no longer offer new assistance without additional congressional appropriations.

Buchanan emphasized the importance of supporting small businesses during crises: “Small businesses are the backbone of our economy, and in times of crisis, they need our full support to rebuild and recover,” he stated. He called on Congress to act quickly to provide necessary resources so that these businesses can continue their contributions to economic recovery.

The letter advocating for replenished funding was signed by 32 members from both parties, including representatives Rick Allen (R-GA), James Baird (R-IN), Jack Bergman (R-MI), and others. The lawmakers highlighted the resilience of their constituents but stressed the necessity of federal support: “While our constituents have been resilient in the face of these catastrophic storms, they require the full support of the federal government to help them get back on their feet and help our communities and economy recover.”

In recent months, Buchanan has supported initiatives aimed at aiding communities impacted by natural disasters. In October 2024, he co-led a letter with Florida's Congressional delegation urging President Biden to approve an Expedited Major Disaster Declaration after Hurricane Milton. He also backed Governor DeSantis’ similar request following Hurricane Helene.

Additionally, Buchanan collaborated with Representatives Andy Ogles (R-TN), Aaron Bean (R-FL), and Neil Dunn (R-FL) on introducing legislation for an additional $10 billion allocation to FEMA for disaster relief.

The letter addressed to Congressional leaders urges inclusion of substantial funding for SBA's disaster loan program in upcoming emergency disaster packages. It notes that while victims can apply for loans and applications are reviewed by SBA, offers cannot be made until further funds are secured.

The communication underscores small businesses' role as community cornerstones employing over 61 million Americans and generating more than one million jobs annually. The absence of further financial support could leave these enterprises unable to recover or maintain operations post-disaster.

Congressman Buchanan’s initiative reflects a continued commitment towards ensuring small businesses receive necessary aid during challenging times.