U.S. Reps. Patrick McHenry (R-NC) and Blaine Luetkemeyer (R-MO) recently forwarded correspondence to U.S. Small Business Administration (SBA) Administrator Isabel Guzman regarding concerns about the agency’s lack of communication and responsiveness to businesses and lenders.
The legislators cited the agency’s funding approval delays and transparency issues, as well as disorganized messaging with lenders.
“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,” wrote McHenry, Republican leader of the House Financial Services Committee, and Luetkemeyer, Republican leader of the House Committee on Small Business. “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).”
The lawmakers maintain unanswered questions and disbursement delays have resulted in limited options. Additionally, the letter notes
members of Congress have forwarded letters to the SBA detailing expressing challenges encountered when requesting information.
“Small businesses and their workers across the country are urgently waiting for answers,” the legislators concluded in the letter. “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.”