- United States
- Conn.
- Letter
Over the past five years, we’ve worked closely with small business owners navigating the SBA’s EIDL program. While these loans were crucial during the pandemic, many borrowers now face significant challenges in repayment. Issues such as outdated technology, poor communication, and rigid policies have exacerbated their struggles. For instance, the SBA’s sudden termination of the Hardship Accommod ation Program left many without recourse. Some businesses, despite making payments, found their loans sent to collections due to administrative errors. One client, aiming to modernize equipment, was denied permission to reinvest proceeds from a sale, leading to business closure. These examples highlight systemic issues within the SBA that hinder small business recovery. This regime has blatantly demonstrated their pursuits to enrich themselves vs. protect the people who pay their salaries. Congress must act to provide the SBA with adequate funding and oversight to modernize its systems, improve communication, and offer flexible solutions fo r borrowers. Too many politicians campaign on small businesses being the “backbo ne of our economy.” agency to support small business. We’re sick of hearing that and yet Congress ignores SBA as a valid They deserve an SBA equipped to support them effectively, especially given the tens of millions of constituents that need a competent agency to support a nd protect them. Kelly Loeffler is useless. REINSTATE SBA PERSONNEL.
