Oregon Delegation Presses Small Businesses Administration over Economic Injury Disaster Loan Funds
WASHINGTON, D.C. –Oregon's Congressional delegation sent a letter to the Small Business Administration’s Administrator Carranza asking about the status of Economic Injury Disaster Loans (EIDL) in Oregon.
“During this challenging time, I’m hearing from many small business owners who are justifiably upset about the lack of clarity around the loan program that was intended to help them," said Rep. Bonamici (OR-01). “I will keep fighting for more funding for the loan programs that Oregonians are counting on, but the Small Business Administration needs to do its part by improving communication and transparency. Anxious entrepreneurs need and deserve answers, and we need accountability so Congress can confirm that the funds are being equitably distributed to those most in need.”
“Small businesses are an integral part of our great state and employ over 800,000 Oregonians,” said Rep. Schrader (OR-05). “I am very concerned about what I am hearing from small businesses in my district when they try to access emergency grants and loans because of COVID-19. I led the charge weeks ago to get Oregon declared an economic disaster area so that business owners could get the aid they desperately need as fast as possible. I understand the unique challenge that this has presented to the SBA, and I am hopeful that they will quickly answer my questions and concerns and get aid into the hands of our small business owners as rapidly as possible.”
“I’m hearing from small businesses across Oregon that they are having massive problems accessing key emergency coronavirus grant and loan programs. These programs are supposed to provide relief—not sow confusion and anxiety for our small business owners,” Senator Merkley said. “During this unprecedented crisis, it is incumbent upon the SBA to give businesses the maximum relief allowed in the CARES Act and clear guidance on how to access that relief.”
“Oregon is predominantly a state of small businesses, and I’ve heard serious concerns from many of them about their urgent need to have access to these emergency grants and loans Congress worked on a bipartisan basis to establish,” said Senator Wyden. “The time is now for the Small Business Administration to help our state’s small businesses so they can survive the economic storm this public health crisis has triggered, and to get these grants and loans moving to small businesses in every nook and cranny of Oregon.”
“Small businesses are the backbone of our economy and need to be treated as such,” said Rep. Earl Blumenauer (OR-03). “Members of Congress from both parties, in every corner of the country, supported expansions to the Economic Injury Disaster Loan Program. Oregonians can’t afford to wait in the dark while bills come due, they need transparency now.”
“Small businesses across Oregon are counting on EIDL loans to make it through this economic crisis,” said Rep. Peter DeFazio, (OR-04). “It’s imperative that we ensure the Small Business Administration processes these loans with efficiency and transparency. I will continue to fight to ensure these businesses are not left behind while the federal bureaucracy gets itself in order.”
U.S. Small Business Administration 409 3rd Street, SW
Washington DC, 20416
Dear Administrator Carranza:
April 15, 2020
We write today requesting information on the disbursement of Economic Injury Disaster Loan (EIDL) funds in Oregon. Small businesses are the backbone in our state, employing 823,658 Oregonians according to the Small Business Administration’s (SBA) latest Small Business Profile for Oregon. For those small businesses and non-profits pursuing assistance through the EIDL program, emergency advances and disaster loans may be the difference between weathering the current pandemic and closing their doors forever.
Congress has demonstrated bipartisan support for assisting small businesses and non-profits during this economic crisis. $10 billion was appropriated for EIDL Emergency Advances (EIDLEA) and additional funds for loans for the 7(a) and 504 programs were legislated in the recent “Coronavirus Aid, Relief, and Economic Security Act” or CARES Act (H.R. 748) to serve as a lifeline in these unprecedented times.
We appreciate and are keenly aware of the extraordinary demand this has placed on the SBA. At the same time, we hear consistently from Oregon small businesses and non-profits applying through the SBA’s EIDL program that once applications are submitted they are unable to check on the status and we have been able to verify few EIDL awards to Oregon businesses and non- profits. To help us understand how the EIDL program is working in Oregon, we have the following questions:
- How many applications to the SBA EIDL program have been submitted in Oregon?
- How many applications to the SBA EIDL program have been processed in Oregon?
- How many applications to the SBA EIDL program have been approved in Oregon?
- What criteria is SBA using to award EIDLEA and what is the average amount of EIDLEA
- How much money through the SBA EIDL program has been disbursed in Oregon?
- Is SBA currently offering or developing a way for small businesses and non-profits to
check on the status of their EIDLEA or EIDL?
- What is the expected amount of time for small businesses and non-profits in Oregon to
receive both their initial EIDLEA and full EIDL if approved?
We appreciate the SBA’s work to support small businesses and non-profits of all sizes across Oregon and thank you for your consideration of our questions.