Luetkemeyer, McHenry Blast SBA for Lack of Communication on Small Business Relief
Small businesses, lenders, and Members of Congress have faced a severe lack of communication from the SBA
Washington,
October 18, 2021 -
Today, House Committee on Financial Services Republican Leader Patrick McHenry and House Committee on Small Business Republican Leader Blaine Luetkemeyer sent a letter to Administrator Guzman of the Small Business Administration (SBA) voicing significant concerns with the lack of communication and responsiveness from the SBA to the nation’s smallest businesses, their lenders, and Congressional offices.
"During the pandemic, small businesses across the country turned to the SBA and their programs for relief to keep their doors open and workers employed. Unfortunately, business owners have been met with uncertainty stemming from delayed approvals, lack of communication, and nonexistent transparency. While the list of complaints is long, numerous small businesses have struggled to obtain information regarding their Economic Injury Disaster Loans (EIDL). Unanswered questions and disbursement delays have left the nation’s job creators with limited options, " wrote Republican LeadersMcHenry and Luetkemeyer.
Lenders have also faced disorganized messaging from the SBA as they have worked tirelessly to underwrite and disburse capital while safeguarding taxpayer dollars. Over the past several months, Members of Congress have sent letters to the SBA expressing challenges they have faced when requesting information. It is unacceptable for Members' questions to go unanswered or to receive generic responses with haphazard or limited information months later.
McHenry and Luetkemeyer concluded, "Small businesses and their workers across the country are urgently waiting for answers. They simply do not have the luxury to wait months. Many of these programs are temporary, therefore delayed responses will not suffice. We urge you to take immediate action to review outstanding inquiries from all Members of Congress and increase communication with their offices, small businesses, and the lenders that assist them. Anything less from the agency charged with aiding America’s small businesses is unacceptable."
The link to the full letter can be found HERE.
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