Legislation introduced by U.S. Rep. Carlos Curbelo (R-FL) on Monday would help local businesses that have been impacted by travel and health advisories resulting from Zika virus.
Curbelo’s Small Business Relief from Disease Induced Economic Hardship Act, H.R. 5986, is companion legislation to S.3301, introduced in the Senate by U.S. Sen. Marco Rubio (R-FL).
“The Zika virus has not only resulted in public health challenges for our communities, but it has also had a devastating impact on the economy in the areas where the disease-carrying mosquitoes are most concentrated,” Curbelo, the chairman of the House Small Business Subcommittee on Agriculture, Energy and Trade, said. “South Florida has been ground zero for locally transmitted Zika cases, and our families and small businesses are feeling the pain of decreased tourism to the area.”
The Small Business Relief from Disease Induced Economic Hardship Act would provide assistance to local businesses through the Small Business Administration (SBA) Economic Injury Disaster Loan (EIDL) program.
“The SBA can provide up to $2 million to help meet financial obligations and expenses of small businesses, with an interest rate not to exceed 4 percent per year,” Curbelo said. “By adding federally declared health advisories to the list of disasters that are eligible for small businesses to apply for EIDL loans, we can help the workers in our South Florida community by ensuring they have access to capital in a time of economic hardship stemming from Zika.”