Shaheen Gets Update, Raises Concerns With SBA Administrator on COVID-19 Relief EffortApril 08, 2020
(Washington, DC)—U.S. Senator Jeanne Shaheen (D-NH), a lead negotiator of the small business relief provisions in the bipartisan Coronavirus Aid, Relief and Economic Security (CARES) Act, had a call this afternoon with Small Business Administration Administrator Jovita Carranza to discuss the implementation of programs in the CARES Act designed to help small businesses. Shaheen was joined by Senators Marco Rubio (R-FL), Ben Cardin (D-MD) and Susan Collins (R-ME), who led negotiations on bipartisan relief for small businesses in the CARES Act, providing more than $377 billion in assistance.
“There are many small businesses in New Hampshire that might not last the week, much less the month, which is why getting resources that Congress has provided to these businesses quickly is so critical,” said Shaheen. “I appreciate the update I received, alongside my colleagues who I worked with to negotiate this small business relief, from the SBA, however, I also relayed the urgency that I’m hearing from small businesses in New Hampshire who have either experienced problems accessing these relief programs or haven’t yet received the funding that has been approved. I also made it clear that in New Hampshire smaller banks and lending institutions primarily service our small businesses and that it’s so important that they have fair access and the support they need to meet demand for these programs, particularly the Paycheck Protection Program. Specifically, lenders need immediate and clear guidance on liquidity requirements as they issue this substantial quantity of loans. The administration has maintained that it’s up to the task of implementation but we continue to see unforced errors and delays. I will continue to work across the aisle to make sure these programs work as they were intended as well as approve additional funding that may be necessary.”
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