CBS19: Spanberger leads calls for changes to SBA loans program for small businesses
CBS19, RIC YOUNG
As the nation grapples with the coronavirus pandemic, Washington is trying to keep small businesses afloat by sending billions of dollars to local banks.
But there have been problems with the Payroll Protection Program for some small business owners.
The biggest complaint is that many banks are dealing only with regular customers and denying loans to new customers.
Seventh District Congresswoman Abigail Spanberger, who recently sent a letter to the Small Business Administration requesting clarification on this issue says to reapply if you have been denied.
“That would be my advice and we are seeing success. We are also seeing good work by our community lenders and community banks who are trying to work aggressively to serve the needs of our local community, so my advice would be to our small businesses please demonstrate the same tenacity in going after these loans to save the business that helped you build up your business in the first place, ” she said.
Spanberger is also leading calls for emergency funding to protect nursing home and long term facility staff and residents as the number of COVID-19 cases rise in Central Virginia.