releases: https://mcadams.house.gov/news/documentsingle.aspx?DocumentID=300
Data license: MIT · Data source: dwillis/congress-press
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| https://mcadams.house.gov/news/documentsingle.aspx?DocumentID=300 | McAdams calls for release of complete list of small business loan recipients | 2020-04-29 | 2020 | 2020-04 | Democrat | House | UT | Ben McAdams | M001209 | mcadams.house.gov | legacy | Midvale, UtahCongressman Ben McAdams said Utahns deserve to see the list of companies who received federal small business loans to answer troubling questions about whether tax dollars are reaching the intended recipients. McAdams said Congress wanted the nearly $700 billion loan programs to help small business owners struggling to keep employees on the payroll during the economic shutdown due to the coronavirus public health crisis. McAdams released a letter he sent to the Treasury Secretary and the Small Business Administrator, critical of the Paycheck Protection Program rollout and questioning whether big corporations unfairly gamed the system. When Congress approved spending billions of dollars to help small businesses and their employees survive this public health crisis, it wasn't for giant corporations with deep pockets. The tax dollars are meant to help Main Street businesses in cities and towns across Utah. That's not what is happening, based on the calls for help I've been getting from frantic business owners trying to keep paychecks going to their workers, said McAdams. Last week, McAdams said $310 billion in new funding for the forgivable Paycheck Protection Program (PPP) loans was approved, after an initial $349 billion was distributed in less than two weeks. McAdams' letter said that Monday's relaunch of the PPP lending system has been a failure and Treasury and SBA must take immediate steps to fix this program and provide Congress with the information necessary to ensure transparency and true oversight of the program. McAdams said his office has been flooded with calls from small business owners, such as All Points Travel in Murray, and Uplift Transport in Lehi, who have been stuck in the application line. McAdams said numerous Utah lenders have been unable to process their loan applications due to faulty SBA computer systems, leaving many small business clients out in the cold. McAdams also noted that according to the Treasury Department's own fact sheet, borrowers must certify in good faith that the loan is necessary to sustain their business. McAdams said Treasury Department documents say, it is unlikely that a public company with substantial market value and access to capital markets will be able to make the required certification in good faith and should be prepared for an SBA inquiry into the loan. It's not right and it isn't fair to thousands of hard-working Utah families. Taxpayer dollars must be spent in the way taxpayers intended. These agencies must release the list and provide a full accounting for how the money was distributed. Our nation's economy and the American business owners and their employees cannot afford failure, said McAdams. ### | 1 | 2026-03-30T12:14:52Z | 2026-03-30T12:14:52Z |