Member-only story
What House Republicans Are Saying About the Pandemic SBA and EIDL Programs
House Republicans are taking aim at the SBA’s direct lending efforts — including its Economic Injury Disaster Loan program — citing the potential for fraud and waste.
In a strongly worded letter from 12 Representatives, they explained: “Not only has the SBA’s EIDL program been plagued with delays and underwhelming communication efforts, but it has also been susceptible to fraudulent activity due to a lack of oversight controls.”
They closed by writing: “Federal government programs must provide aid and resources in a responsible, efficient, and prudent manner. Anything less is unacceptable.”
We’ll see if this letter has any impact on future SBA disaster relief programs, especially the popular EIDL grants and loans that helped countless small business owners over the past 20 months of craziness.
Real quick, let’s talk about those of you who were denied for all or part of the money on your PPP loan forgiveness application… You might need to take action quickly.
You have 30 days to appeal the ruling on your PPP loan forgiveness application, and the clock starts when you receive written notification from the Small Business Administration (SBA).