Properly Fund the SMALL BUSINESS ADMINISTRATION (SBA) and REINSTATE PERSONNEL

Over the past five years, small business owners navigated 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 Issues such as outdated technology, poor communication, and rigid policies have exacerbated their struggles.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 Accommodation Program left many without recourse. Some businesses, despite making payments, found their loans sent to collections due to administrative errors. Here’s a true story example: Aiming to modernize equipment, a business was denied permission to reinvest proceeds from a sale, leading to business closure This 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 for borrowers. Too many politicians campaign on small businesses being the “backbone of our economy.” We’re sick of hearing that and yet Congress ignores SBA as a valid agency to support small business. They deserve an SBA equipped to support them effectively, especially given the tens of millions of constituents that need a competent agency to support and protect them. REINSTATE SBA PERSONNEL.