CBS13's Cody Lee speaks with the U.S. Representative about the potential relief
YUMA, Ariz. (KYMA, KECY) - We're approaching a year since border closures and restrictions were put into place due to growing concerns over the coronavirus. Representative Grijalva is introducing a new bill that will provide targeted funds to small businesses along the united states border.
The goal is to assist businesses affected by the COVID-19 pandemic.
Businesses along the northern and southern border have been hard hit because of the decrease in foot traffic and border crossings.
The bill would provide immediate $10,000 advance loans that do not require repayment. Businesses could also receive a loan of up to $500,000 for eligible expenses.
Representative Grijalva is hoping the small business administration will forgive up to 100 percent of the awarded loans.
The funds would go to specifically target small border businesses with adjusted gross incomes under 500-thousand dollars within 25 miles of a U.S. Border.
The congressman says this bill could be attached to the larger 1.9 trillion dollar Biden COVID-19 rescue package.
“We [are] push[ing] for that we also want to be part of the infrastructure bill that's coming up. It can be part of other pieces of legislation to deal with the infrastructure that deals with business. There's no pride of ownership here once we can get the concept into another bill, and it serves the purposes that the legislation has for the borderlands. It would be good,” Rep. Grijalva said.
“I think it's important for the federal government and the national government to look at the borderlands and say, maybe it's time that we invested in this.”-Rep. Raul Grijalva