Romney leads Rural Equal Aid Act to extend small business loan support

Local News

Sen. Mitt Romney, R-Utah, arrives for a closed meeting with fellow Republicans about the looming impeachment trial of President Donald Trump, at the Capitol in Washington, Tuesday, Jan. 7, 2020. (AP Photo/J. Scott Applewhite)

SALT LAKE CITY, Utah (ABC4 News) – Senator Mitt Romney and other U.S. Senators introduced legislation Thursday which would enhance support for rural communities, family farms, and small businesses during the pandemic.

The Rural Equal Aid Act would provide relief to rural small businesses by expanding assistance Congress previously provided for certain existing Small Business Administration loans to Rural Development program loans within the United States Department of Agriculture.

“Small businesses and community organizations are vital to the health and livelihoods of Utah’s rural communities, and they have faced great hardship over the last several months,” Senator Romney said. “Our legislation will help them receive the support they need to keep their doors open and get through this pandemic.”

The Rural Equal Aid Act will expand subsidies to community facilities like hospitals, libraries, child care, community centers, fire stations, and town halls. The Act also will assist businesses and nonprofits a chance to expand in rural areas.

The Act will also include Intermediary Relending. These loans are no more than $250,000 made through small local intermediaries to borrowers who are unable to get credit elsewhere but need capital to expand their business.

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Glen Mills

Chief Political Correspondent

 Glen is honored to be delivering the news of the day every weeknight at 5, 6, and 10 in his home state. He is an award-winning veteran journalist, who joined the ABC4 News team as a weekend anchor in June 2013. Over the years, he held various positions at the station as he worked his way up to the main anchor chair. He also serves as our Senior Political Correspondent and hosts Inside Utah Politics, which airs every Sunday. The Utah Headliners Chapter of the Society of Professional Journalists has recognized Glen as the best government and military television reporter in the state. Before returning home to Utah, he spent 11 1/2 years developing his journalism skills in other states. He held various on-air and management positions at KPVI in Pocatello, Idaho, WGBA in Green Bay, Wisconsin, and KKCO in Grand Junction, Colorado during that time. Read More...