A bipartisan bill entitled the “Small Business Energy Emergency Relief Act of 2001,” (S-295) which aims to make disaster loans to small businesses that have suffered economically due to the increase in heating fuel costs, passed without difficulty in the Senate.
The bill, introduced by Senator John Kerry, (D-Mass.) requires a declaration of a disaster by the President or the SBA Administrator; or a certification from the governor of the State that its small businesses have suffered economic injury and are in need of assistance that is not otherwise available. The loans would be administered by the Small Business Administration.
One of the definitions of a small business, according to the SBA, is one that is independently owned and operated and which is not dominant in its field of operation. For more information, contact the Senates Web site.
