CONGRESSMAN WU CALLS ON BUSH ADMINISTRATION TO HELP BUSINESSES HURT BY SARS EPIDEMIC

Washington, DC - Congressman David Wu (D-Ore.), May 20, 2003, called on the Bush Administration to provide financial relief to businesses in the United States that have lost significant revenue due to the Severe Acute Respiratory Syndrome (SARS) epidemic.  

Congressman Wu announced that he has sent two letters, signed by over fifty Members of Congress, to President Bush and the Administrator of the Small Business Administration (SBA), Hector V. Barreto.  The letters ask that SBA make available low interest Economic Injury Disaster Loans to allow small businesses, ailing because of the epidemic, to meet their ordinary operating expenses, and avoid bankruptcy.    

"Many businesses, already weakened by a stagnant economy, have failed or been pushed to the brink by SARS," said Congressman David Wu.  "I call on the Bush Administration to provide economic relief to help these small businesses stay afloat through this difficult time."

Fears of SARS have caused a major reduction of travel to and from Asia, and a decline of tourism to America's Chinatowns.  In certain business sectors, such as the restaurant and travel industry, there have been reports of an over 50% reduction in business.

Under an Economic Injury Disaster Loan program, qualifying businesses would be eligible for a loan of up to $1.5 million with a low fixed interest rate.  The Administrator of the SBA has the legal authority to make these loans available, and Congressman Wu today requested that he do so without delay.

Congressman David Wu is the Chair of the Congressional Asian Pacific American Caucus (CAPAC).