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What is Going On With SBA and PPP?
Great news for SBA and PPP recipients: one SBA administrator believes that Biden’s Build Back Better will increase amazing opportunities in the future… This is just the beginning folks.
An SBA administrator is saying great things about Biden’s Build Back Better program because it spells great hope for the future of PPP, EIDL, and SBA loans.
According to House Small Business Committee Chair Nydia Velázquez, “I believe opportunities will only increase with President Biden’s agenda to build back better and correct decisions made in the previous administration that has led to many of the crises we face today — -such as inflation, workforce shortages, supply chain disruptions, inequity in health care and childcare, and worst of all a slow recovery.”
Yes, we are dealing with supply chain issues and inflation and that’s kind of looming on the back of all of our minds, but Velazquez (and many others) are saying the Build Back Better program is just the beginning.
Velazquez cited the $44.8 billion in financing with over 61,000 loans distributed by the Small Business Administration during the year of 2021. Meanwhile, the PPP program distributed nearly $800 billion in loans to more than 11 million small businesses in the country.