SBA abruptly drops disaster loan limit from $2M to $150K
Story Date: 5/18/2020

 

Source: Jeffrey Meitrodt, MINNESOTA STAR TRIBUNE, 5/14/20


With hundreds of state companies expressing outrage at abrupt changes in the U.S. Small Business Administration’s disaster loan program, Minnesota members of Congress are promising to quickly address the problem. “What I would say to the SBA is: 'Come tell us what you need in order to meet the commitments we made to the American public,’ ” said U.S. Rep. Angie Craig, a Democrat from Eagan who sits on the House Committee for Small Business. “Don’t just make arbitrary decisions. ... It is embarrassing.”

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