Sen. Young Acknowledges SBA Loan Problems, Pledges to Help Correct Issues
This afternoon, NFIB hosted an informational webinar with Sen. Todd Young. The Senator connected with Indiana small business owners, giving them the latest information about what’s going on in Washington D.C. and how Congress is helping small business owners during this coronavirus crisis. The Senator was joined by NFIB State Director in Indiana, Barbara Quandt. You can watch the telefourm here.
Sen. Young thanked Indiana’s small business owners for working tirelessly to grow their business and employ Hoosiers. As to the news that the $350 billion in funds in the Paycheck Protection Program dried out today, the Senator promised to do everything he can to replenish the funds.
“It is my fervent hope that we in Congress can get the Paycheck Protection Program replenished. It’s public sentiment and the responsible thing to do for our hard working small business owners who have been handed an unprecedented set of challenges. I promise to do everything I can to make sure that Indiana small business owners and their employees are made whole,” said Senator Todd Young.
“We’re relying on our friends of small business, like Sen. Young, to stand up for small business during this unprecedented and scary time. Many of Indiana’s small businesses are close to shutting their doors, desperately doing everything they can to keep their employees and pay their bills. Some lawmakers have let them down. Hardly any of Indiana’s small businesses have seen money from the Paycheck Protection Program. Every day I’ve hear from members worried the funding would run out and today, those fears were realized,” said NFIB State Director in Indiana, Barbara Quandt.
This week, NFIB penned letters to congressional leaders, urging them to immediately provide further appropriations to the Paycheck Protection Program (PPP), and to the Small Business Administration, strongly encouraging them to address significant funding and communication issues related to the Economic Injury Disaster Loan (EIDL) program.