The American Society of Travel Agents (ASTA) strongly supports a move by Rep. David Wu (D-Ore.) urging the Small Business Administration (SBA) to…
The American Society of Travel Agents (ASTA) strongly supports a move by Rep. David Wu (D-Ore.) urging the Small Business Administration (SBA) to provide economic disaster relief funds for businesses that have been adversely affected by Severe Acute Respiratory Syndrome (SARS).
It is critical that the Small Business Administration consider the devastating economic toll that SARS-and the fear of SARS-is taking on many travel industry businesses, said ASTA President and CEO Richard M. Copland, CTC. ASTA supports the efforts of those in Congress who are asking the SBA to provide relief to businesses affected by this disease. After Sept. 11, with ASTA`s active involvement, the SBA played a vital role in helping to save thousands of small businesses by opening up the Economic Injury Disaster Loan program to small businesses nationwide.
Today, Rep. Wu sent two letters, signed by more than 50 members of Congress, to President Bush and SBA Administrator 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.
The letter to Administrator Barreto states:
Although there has yet to be a confirmed outbreak of SARS reported in the United States, certain businesses have suffered declines in revenues of 30 to 60 percent since the outbreak was reported in Asia. Other businesses have had to curtail travel or change their standard practices, often decreasing efficiency or increasing expense, or both. … Travel agencies have suffered losses. Tourism is a mainstay for Chinatowns in many cities, and the current SARS scares have caused a devastating loss of tourist dollars.
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