May 27, 2021
Manchin: American Rescue Plan Supports West Virginia Businesses During COVID-19
Video of Senator Manchin’s statement on the American Rescue Plan impact on West Virginia businesses can be found here
Washington, DC – Today, U.S. Senator Joe Manchin (D-WV) provided an update on business assistance included in the American Rescue Plan, which extended programs like the Paycheck Protection Program, Economic Injury Disaster Loans, Shuttered Venue Operators Grant Program and Restaurant Revitalization Fund to support West Virginia businesses.
“The COVID-19 pandemic has taken a toll on West Virginia businesses, especially our small businesses, forcing many to close their doors or lay off workers. The American Rescue Plan continues to deliver critical relief to businesses across the state through extending vital programs like the Paycheck Protection Program, Economic Injury Disaster Loans, Shuttered Venue Operators Grant Program and Restaurant Revitalization Fund. Small businesses are truly the backbone of West Virginia’s economy and ensuring they have the resources to succeed is one of my top priorities. As our economy continues to recover from the COVID-19 pandemic, I will work with federal agencies, West Virginia organizations and businesses to ensure every West Virginia business is supported during these difficult times.”
Senator Manchin has been working tirelessly with the U.S. Small Business Administration, state agencies and local organizations to support West Virginia businesses impacted by the COVID-19 pandemic. In May, Senator Manchin hosted SBA Administrator Isabella Casillas Guzman for a virtual information session to explain SBA’s new Restaurant Revitalization Fund and to answer questions from restaurant owners.
American Rescue Plan Impacts on Business Assistance:
- Paycheck Protection Program (PPP): West Virginia businesses have received 15,580 PPP loans through May 23, totaling $805,081,387. The American Rescue Plan provided $7.25 billion to extend the program for businesses across the country.
- Economic Injury Disaster Loans (EIDL): West Virginia businesses have received 8,214 EIDL loans through May 20, totaling $448,304,499. Additionally, in 2020 West Virginia businesses have received 12,552 EIDL Advances, totaling $41,445,000. From December 2020 to May 20, 2021, West Virginia businesses have received 263 EIDL Targeted Advances, totaling $2,115,000. The American Rescue Plan provided $15 billion to administer additional EIDL targeted advance payments across the country.
- Shuttered Venue Operators Grant Program (SVOG): The American Rescue Plan provided $1.25 billion to extend the SVOG program to support live performing arts organization operators, live venue operator or promoter, movie theaters, museums, theatres and talent representatives in West Virginia and across the country. 33 West Virginia venues applied for the grant program.
- Restaurant Revitalization Fund (RRF): Over the past year, West Virginia has lost nearly 30,000 jobs in the restaurant industry since last year, almost 40% of the restaurant workforce. The American Rescue Plan provided $25 billion to extend the program across the country.
A video of Senator Manchin’s statement on the American Rescue Plan impact on West Virginia businesses can be found here.
To learn more about the American Rescue Plan funding and benefits for West Virginia, click here.
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