releases: https://mcadams.house.gov/news/documentsingle.aspx?DocumentID=292
Data license: MIT · Data source: dwillis/congress-press
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| https://mcadams.house.gov/news/documentsingle.aspx?DocumentID=292 | McAdams calls on Democrats to get a deal – fund small business loan programs now | 2020-04-17 | 2020 | 2020-04 | Democrat | House | UT | Ben McAdams | M001209 | mcadams.house.gov | legacy | West Jordan, UTCongressman Ben McAdams today called on Congress to immediately pass legislation to add at least $250 billion to Small Business Administration loan programs for small businesses to keep the aid flowing to employers and employees. The loan programs, which were originally funded in the CARES Act, are out of money even as more Utah businesses have applications pending for financial help due to economic hardship from the coronavirus response. This is the emergency and this is the most important thing Congress can do to help Utah's working families keep receiving a paycheck to pay their bills as we continue our necessary response to the coronavirus. I'm calling on Democrats to make this deal and get the money to our small businesses now, said McAdams. McAdams said Small Business Administration (SBA) loan programs supplied with $349 billion in the CARES Act are now out of money and the SBA cannot process applications without further funding approval by Congress. Utah businesses have received over $3.69 billion as of April 16th, through 21,757 loans. SBA provides loans to small businesses to cover payroll and other essential expenses. The loans can be forgiven if employers keep employees on the payroll. McAdams said after talking with Utah banks and credit unions, he estimates there are over 10,000 small business loans totaling over $1 billion dollars that are in the pipeline to be approved when the funding is in place. | 1 | 2026-03-30T12:14:52Z | 2026-03-30T12:14:52Z |