Office of Rep. Marilyn Strickland announcement.
Congresswoman Marilyn Strickland (WA-10) on April 20, 2023 introduced H.R. 2727, the Economic Injury Disaster Loan (EIDL) Relief Act to delay interest accumulation on COVID disaster loans. Strickland’s bill would make the interest rate on the federal share of an eligible COVID-19 EIDL loan zero percent for eligible borrowers for 12 months. The delay in interest would provide relief for the small businesses hardest hit as they recover post-pandemic.
“Small businesses are the lifeblood of neighborhoods across the nation,” said Rep Strickland. “My legislation prioritizes their needs as cornerstones in their communities because a post-pandemic return to normal must include helping our small business owners.”
In addition to delaying interest for a year, the EIDL Relief Act would drop required payments for eligible borrowers to at least 10% of their monthly payment amount (with a $25 minimum) to qualify for the interest rate adjustment. Small businesses eligible for this would be COVID-19 EIDL loan borrowers who are experiencing short term financial challenges as determined by SBA.
Strickland has been a staunch advocate for small businesses in Congress, leading a bipartisan letter co-signed by 70 of her colleagues to the Small Business Administration last year demanding accountability on inadequate service and communications from the SBA regarding COVID-19 EIDL loans.
The EIDL Relief Act is co-sponsored by Reps. Yvette Clarke (NY-09), Raul Grijalva (AZ-07), Andre Carson (IN-07), and Donald Payne (NJ-10).
I believe this bill shall be the shining example of “Hegelian Dialectic.”
Had to look up that term, and was hit with a lesson in psychology – wow.
To the point: I took out several loans to shield my companies’ cash flow from the Fauchi boogeyman which turned out to be the back-lit shadow of a teddy bear, for the less-vulnerable – most of us.
How about those folks still driving themselves around with a mask on there face?
Regardless, I have been repaying my loans as per the terms of agreement, and will continue to do so for a long time.
I can already see Strickland’s next move. Loan forgiveness, but only for those who “qualify”.
Is that the targeted outcome of “Hegelian Dialectic”?
Oh gosh, did you really look up the “Hegelian Dialectic” ?
Please enlighten.
I’m genuinely curious.
Yep Wikipedia, that’s why I posed the question.
Waaaay beyond common sense.
Please enlighten.