SBA warns big companies on seeking small business loans after backlash

Poll: Most Americans say it's more important staying at homeRead all coronavirus coverage »

The SBA said borrowers that applied for a loan before the release of the new guidance and repay in full by May 7 will be "will be deemed by SBA to have made the required certification in good faith." Sen. Ben Cardin , the ranking member on the Senate Small Business Committee, applauded the move but said it wasn't enough.

"Initial reaction is this is not good enough and is not formal guidance," said a spokesperson for House Small Business Chairwoman Nydia Velazquez .

This is what happens when the idiot is allowed to remove oversight!

Think twice! An intelligent person woul say NO!

About time!!! Someone needs to talk to Blackrock and tell them that if a publically traded company recieves a bailout, Blackrock better not be the largest stock holder! Which rocket scientist put Blackrock in charge of this in the first place?

To make way for himself to get an SBA loan rescue

Maybe they should get prosecuted for fraud instead of a slap on the wrist

Hmm, maybe they should get prosecuted for fraud instead of a slap on the wrist..

peterbakernyt maggieNYT jmartNYT nytopinion nytmike adamgoldmanNYT DouthatNYT MZHemingway The nytimes Editorial Board and its opinion writers will now commend POTUS for addressing the problem of federal dollars going to those who don't deserve it. (just kidding)

Why what are they gonna do? Give them the money? Oooh noooo...

Whatever. These companies have a fiscal obligation to their shareholders to take the money if they can. If Congress didn’t want publicly traded companies to get the money, they should have written that into the law. It wouldn’t have been hard.

WARNING. STOP APPLYING FOR THESE LOANS THE PRESS ARE ONTO US.

Privately they don’t give a shit.

I don't like big companies applying for this also but it is not their fault. If you are too stupid to write legislation that goes to the people who need it you get what you deserve. To blame this is disingenuous to say the least but you are to blame not them.

After they already had their share of the huge stimulus scam phew...we need those coronavirus emails released ASAP .

Shouldn't there be built-in protections for actual small businesses in the application process?

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SBA data breach compromises business owners’ dataA data breach in the Small Business Association‘s online application portal may have compromised personal information for nearly 8,000 businesses seeking emergency loans last month This is what happens when amateurs are in charge! Look at England! Ffs.
Source: politico - 🏆 381. / 59 Read more »

Coronavirus economic updates: Personal info of nearly 8,000 small business loans applicants exposed on SBA websiteJUST IN: The personal information of nearly 8,000 Economic Injury Disaster Loan applicants was potentially exposed to other applicants on the SBA's website, the Small Business Administration confirms. This is indecent exposure for sure Educate yourself.....!!! More incompetence from this administration
Source: ABC - 🏆 471. / 51 Read more »