Small Business Loans and the Coronavirus Pandemic

The House Small Business Committee held a hearing on the Economic Injury Disaster Loan (EIDL) program, which was created to provide assistance… read more

The House Small Business Committee held a hearing on the Economic Injury Disaster Loan (EIDL) program, which was created to provide assistance for small businesses during the coronavirus pandemic. James Rivera, associate administrator of the Small Business Administration’s (SBA) Disaster Office, testified that the agency had distributed $147 billion in loans to 6.8 billion small businesses during the pandemic, which he said was more than the total amount of loans dispersed in the 67-year history of the SBA. While acknowledging the scope of disaster relief provided, committee members criticized the agency for long wait times in receiving loans, poor communication with businesses during the loan application process, and a $150,000 cap on loans. Committee Chair Nydia Velazquez (D-NY) during her opening statement also criticized the Senate for passing an extension on the Paycheck Protection Program, saying there was not enough information yet to make a decision on an extension. close

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Small Business Loans and the Coronavirus Pandemic

1,465 Views
Program ID:
473528-1
Category:
House Committee
Format:
House Committee
Location:
2118, Rayburn House Office Building, Washington, District of Columbia, United States
First Aired:
Jul 01, 2020 | 10:00am EDT | C-SPAN.org
Last Aired:
Jul 08, 2020 | 2:39pm EDT | C-SPAN 1

Airing Details

  • Jul 01, 2020 | 10:00am EDT | C-SPAN RADIO
  • Jul 01, 2020 | 10:47pm EDT | C-SPAN 2
  • Jul 01, 2020 | 10:59pm EDT | C-SPAN RADIO
  • Jul 02, 2020 | 5:16am EDT | C-SPAN 2
  • Jul 07, 2020 | 2:54am EDT | C-SPAN 1
  • Jul 08, 2020 | 2:39pm EDT | C-SPAN 1
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Small Business Loans and the Coronavirus Pandemic

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