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Wednesday, 17 November 2021 11:43

SBA Administrator Gives Updates on PPP, EIDL Loans, Supply Chain, Labor Issues, Vaccine Mandate

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The U.S. House of Representatives Small Business Committee held a hearing entitled “A Discussion with Small Business Administration (SBA) Administrator Isabella Casillas Guzman.”

During the hearing, committee members discussed a variety of topics with Guzman, ranging from the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loans (EIDL) Program, to supply chain and labor issues facing small businesses, to the Biden Administration COVID-19 vaccine mandate for businesses with more than 100 employees.

 

The administrator in turn gave an update on small business assistance programs and laid out her plans for the future of the SBA.

 

In her opening statement, House Small Business Committee Chair Nydia Velázquez (D-NY), who spoke at an Automotive Service Association (ASA) annual meeting in 2002, applauded the $44.8 billion in financing through more than 61,000 loans distributed by the Small Business Administration in fiscal year 2021.

 

Velázquez also said, “I believe opportunities will only increase with President Biden’s agenda to build back better and correct decisions made in the previous administration that has led to many of the crises we face today---such as inflation, workforce shortages, supply chain disruptions, inequity in health care and childcare, and worst of all a slow recovery.”

 

One of the many issues discussed during the hearing was the ongoing disruptions in America’s supply chain. Many small businesses, including independent automotive mechanical and collision shops, are suffering due to the difficulty in getting the materials they need.

 

In response to questions from the committee, Guzman cited programs offered by the SBA designed to assist small businesses in times of crisis, such as...


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