Ernst Slams SBA Disaster Recovery Support Gaps in Iowa

Press Release

“Small business owners who lose their livelihoods in a natural disaster have no time to spare. It’s incredibly frustrating to repeatedly hear from those seeking SBA assistance that they thought it was such a waste of their time. So much so that many walked away and didn’t complete applications. For those who stuck it out, SBA loan processing times were incredibly slow. It becomes even more challenging when you consider the fragmentation among federal agencies. A variety of resources are available after a disaster, including loans from SBA and USDA, but there is no parity between the two agencies.

Simply put, the Biden-Harris administration—in particular the SBA—is leaving these communities behind. SBA’s lending in rural areas is abysmal, at just around 15% in the agency’s two main programs. That’s a slap in the face to hardworking Americans who are the ones paying for these programs. The Biden-Harris team must stop picking winners and losers and make this assistance accessible to all Americans."

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