Small Business Disaster Readiness And Reform Act Of 2009
Floor Speech
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Ms. VELÁZQUEZ. Mr. Speaker, I yield myself such time as I may consume.
I rise in support of H.R. 3743, the Small Business Disaster Readiness and Reform Act of 2009.
The Small Business Administration's Disaster Loan Program is an important lifeline for businesses struggling to recover following natural disasters. Low-interest loans offered through the program help entrepreneurs rebuild their firms and get back on their feet. These loans also help small businesses avoid the economic shocks that often accompany disasters.
While these programs are valuable in helping our communities recover from crises, they have not reached their full potential. Earlier this year, the Government Accountability Office examined the SBA's disaster recovery programs, including the agency's new measures following Hurricane Katrina. In July, the GAO testified to the Small Business Committee that the Small Business Administration has not done enough to prepare for major emergencies. The GAO's findings give cause for concern that the SBA will fall short of the needs of entrepreneurs during critical times.
The legislation we are considering today will help the SBA better meet the needs of those recovering from natural disasters. This bill will improve how the SBA disburses assistance, ensuring small firms get help more quickly. This legislation will also require SBA to establish regional disaster working groups. These groups will develop localized disaster preparedness plans, putting the SBA in a better position to address the unique challenges facing small businesses recovering from disasters.
Mr. Speaker, small businesses need access to capital to make payroll and carry on their daily operations. However, for firms recovering from natural disasters, finding an affordable loan can make all the difference between staying open or closing forever. The legislation before us will ensure entrepreneurs can receive the help they need when times are tough.
I commend Mr. Griffith, who is the sponsor of this bill, for his work on this important legislation.
Mr. Speaker, I reserve the balance of my time.
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