Rhode Island’s congressional delegation is pushing the Small Business Administration for updates on how businesses impacted by the Washington Bridge closure are faring.
In a letter to the SBA, the delegation noted that the closure of the bridge’s westbound span has had a major impact on traffic in the Providence area. Many businesses have been forced to put a strain on their resources in order to stay afloat.
The delegation is seeking updates on the number of loan applications submitted as a result of the closure and their current status. It is also seeking information on the reasons for any rejections of loan applications.
In addition, the delegation is requesting that the SBA provide updates on the average time it takes to issue loan determinations.
The closure of the Washington Bridge has significantly disrupted traffic and commerce in Rhode Island. The delegation is grateful for the SBA’s willingness to provide loans to help small businesses weather this storm. However, it is concerned that the current application and approval process is too slow.
The delegation urges the SBA to take all necessary steps to ensure that small businesses impacted by the closure have access to timely and necessary relief.
Generative artificial intelligence (AI) assisted a What’sUpNewp journalist with the reporting included in this story.
