CITY RESOLUTION No. 20-28

RESOLUTION No. 20-28

Resolution Requesting an SBA Disaster Assistance Set Aside For Small and Micro Businesses in Lawrence County

Sponsored By Councilor: Kline

WHEREAS, the Small Business Administration is providing assistance through the Payroll Protection Program (PPP) and other Disaster Assistance Programs for all small businesses affected by the Corona Virus Pandemic Federal Emergency, and

WHEREAS, participation within the PPP program is dependent upon the business processing those loans through their local lender, and

WHEREAS,Lawrence County has few local lenders for which small business can file said loans, therefore dependent upon national banks and local branch operations which has demonstrated from the initial congressional allocation of funds to have the lack of capacity to process said loans for small Lawrence County businesses, and

WHEREAS, it is anticipated that the SBA will soon be receiving an additional allocation to service businesses under the PPP program

NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Ironton, State of Ohio:

That SBA set aside an allocation of SBA PPP program funds for Lawrence County small businesses, and that the Lawrence County Economic Development Corporation working in conjunction with the Greater Lawrence County Chamber of Commerce be authorized to work the processing of local PPP loans through authorized SBA local lenders without the threat of again missing out on said program assistance due to the lack of processing capacity on the part of National Banks.

This Resolution is hereby adopted this 23rd day of April 2020 by the action of the council for the City of Ironton, Ohio.