Small Business Loan Program Supports Gulf Coast Businesses

For Immediate Release: Tuesday, April 21, 2020
Contact:  Justin Williams, (202) 465-8464, jwilliams@nullnoia.org

Small Business Loan Program Supports Gulf Coast Businesses;
NOIA Encourages Quick Passage by the House

Washington, D.C. – National Ocean Industries Association (NOIA) President Erik Milito issued the following statement after the Senate voted to replenish small business loan program:

“The Senate should be applauded for voting to replenish the Paycheck Protection Program (PPP) and other programs to mitigate the COVID-19 impact. The small business loan program has been a lifeline for small businesses, including many small businesses that are part of the energy ecosystem along the Gulf Coast.  Support for these companies is especially important now. The fallout of the Russia-Saudi Arabia price war has exacerbated the impact of diminished demand due to COVID-19, further threatening energy businesses. Without a serious lifeline, hundreds of thousands of offshore energy jobs could disappear, unraveling the fabric of countless Gulf Coast communities.

“Safe and environmentally responsible produced American energy is of the utmost importance to our economy, national security and way of life. NOIA calls on quick passage by the House this week, and continued action to support the competiviness of American offshore energy production.”

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The National Ocean Industries Association (NOIA) represents and advances a dynamic and growing offshore energy industry, providing solutions that support communities and protect our workers, the public and our environment.

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The National Ocean Industries Association (NOIA) represents and advances a dynamic and growing offshore energy industry, providing solutions that support communities and protect our workers, the public and our environment.