Davids Calls on Treasury Department, Small Business Administration to Ensure Small Businesses Can Receive Relief Quickly, Efficiently
Amid concerns over launch of small business lending program, Representative Sharice Davids called on the Treasury Department and Small Business Administration to ensure that small businesses can receive relief quickly and efficiently.
“Small businesses across the country, especially in the Kansas Third District, are suffering from the necessary public health measures put in place to combat the coronavirus outbreak. The CARES Act provides desperately needed resources for affected small businesses, which must be implemented immediately and without government red tape. Failing to do so will have enormous consequences,” wrote Davids.
Last week, Congress passed the CARES Act, which provided $20 million to the Small Business Administration (SBA) to administer critically needed disaster loans. It also enacted needed changes to SBA loan programs to expand eligibility and provide a lifeline to small businesses struggling to keep their doors open.
The expected demand for these loan programs has raised concerns over how well the SBA will be able to respond to the urgent requests from small businesses.
The view the letter, click here.