Washington, D.C.— Today, House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY) sent a letter to Treasury Secretary Steven Mnuchin and SBA Administrator Jovita Carranza expressing concern over the rollout of new laws passed by Congress that provide aid to small businesses struggling during the COVID-19 pandemic.
“I am extremely concerned that underserved microbusinesses, small businesses in urban and rural parts of the country are being shut-out from funds,” wrote Velázquez. “In addition, the piecemeal guidance and fact sheets Treasury and SBA have released are in many instances confusing, contradictory, and provide little clarity to the millions of small businesses that are in desperate need of assistance. Finally, we have heard repeated concerns about IT system breakdowns that are preventing small firms from quickly applying for and receiving loans.”
In the letter, the Chairwoman asks a series of detailed questions on the Administration’s plans to rectify issues with the aid rollout. The full letter is available here.