), the second-largest U.S. lender, has asked the Trump administration to correct data meant to offer public accountability on the recipients of $520 billion in pandemic aid designed to preserve jobs, and a group of U.S. Democratic lawmakers has written to demand action before more funds are distributed.
The requests, not previously reported, will likely increase pressure on the SBA and the Treasury to explain how they put together lending data on the Paycheck Protection Program, which was designed to help businesses keep workers on their payrolls by issuing forgivable loans. “We have found much of the released data to be grossly incorrect,” the lawmakers, who included the chair of the House of Representatives Committee on Small Business, wrote in a letter sent to SBA administrator Jovita Carranza on Monday.
Democratic Representative Jason Crow, a member of the committee who led the drafting of the letter, told Reuters in an interview that he was also seeking a meeting with SBA staff to discuss their process and timeframe for cleaning up the data.
The SBA is crooked and inept.
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