[Congressional Record Volume 145, Number 165 (Friday, November 19, 1999)]
[Extensions of Remarks]
[Page E2513]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


       INTRODUCTION OF THE SMALL BUSINESS DISASTER ASSISTANCE ACT

                                 ______
                                 

                           HON. SUE W. KELLY

                              of new york

                    in the house of representatives

                      Thursday, November 18, 1999

  Mrs. KELLY. Mr. Speaker, I rise today for the purpose of introducing 
the Small Business Disaster Assistance Act.
  This is a two-part proposal that seeks to provide both immediate 
assistance to viable small businesses and agricultural enterprises when 
first dealing with the damage wrought by a disaster, and more long-term 
assistance which seeks to provide them with the needed lift as they 
continue to work towards normalcy.
  My bill creates a program whereby viable small businesses and 
agricultural enterprises would be eligible for a grant of up to $30,000 
in order to provide them with the immediate assistance they need when 
dealing with a disaster. Additionally, the bill creates a loan program 
that acknowledges the great difficulties small business owners and 
farmers encounter during the first year following a disaster by 
allowing for a one-year deferral on any repayments toward the loan, 
and, furthermore, allows the recipient to pay back the principal of 
that loan before the interest.
  This is a compassionate, reasonable proposal that seeks to provide 
small businesses and farmers with assistance during a time when they 
need it most. I'd like to thank my colleague from New Jersey, 
Congressman Bob Franks, for his important contribution in drafting this 
legislation, and I hope that our colleagues will join us in this effort 
to assist small business owners and farmers whose lives have been 
fundamentally diminished by natural disaster.

                          ____________________