U.S. Small Business Administrator Updates Congress on SBA Activity in Committee Testimony
Small Business Administration Administrator Kelly Loeffler, a former Republican U.S. Senator from Georgia, testified before the U.S. House Small Business Committee last week to provide updates and answer questions regarding the SBA's activities.
Administrator Loeffler touted how the agency has increased its loan disbursement rate by 20 percent since President Trump's second presidency began, despite the agency now employing fewer staff. She attributed this accomplishment in part to her decision to end COVID-era work-from-home policies and other policy changes meant to increase efficiencies. She also defended decisions to close multiple SBA field offices in urban centers and relocate them in more rural communities. Loeffler argued that these moves were needed to ensure SBA's services can reach rural communities that are often neglected by the federal government.
Congressman Herb Conaway (D-NJ) questioned administrator Loeffler on the Trump Administration's tariff policies and their impact on small businesses. He specifically mentioned how many automotive businesses need parts and assembled vehicles that are produced abroad. He argued that the president's unpredictable taxes hurt small businesses in this sector. Administrator Loeffler disagreed, arguing that these tariffs are needed to fight back against harmful tariffs already imposed on American products by other countries.