U-S SENATOR JONI ERNST SAYS IT’S BEEN DIFFICULT FOR IOWANS TRYING TO RECOVER FROM THIS YEAR’S FLOODS AND TORNADOES TO NAVIGATE FEDERAL DISASTER PROGRAMS.
ERNSTSBA1 OC….COORDINATION AND INCOMPETENCE.” :11
ERNST SAYS SOME IOWANS INITIALLY GOT BAD INFORMATION ABOUT WHETHER THEY WERE ELIGIBLE FOR SMALL BUSINESS ADMINISTRATION LOANS.
ERNSTSBA2 OC…..TO THEIR ATTENTION.” :20
ERNST SAYS SHE’S HEARD FROM SMALL BUSINESS OWNERS IN RURAL IOWA HIT BY THIS YEAR’S SEVERE WEATHER THAT THEY GOT BETTER LOANS FROM THEIR LOCAL COMMUNITY BANK THAN WERE OFFERED BY THE S-B-A.
ERNSTSBA3 OC…..DIDN’T COMPLETE APPLICATIONS.” :17
S-B-A ECONOMIC INJURY DISASTER LOANS WERE MADE AVAILABLE TO IOWANS HIT BY HISTORIC FLOODING AND DEVASTATING TORNADOES IN COUNTIES THAT HAVE BEEN DECLARED PRESIDENTIAL DISASTER AREAS.
THE LOANS HAVE AN INTEREST RATE OF FOUR PERCENT FOR BUSINESSES.
ERNST HAS ACCUSED THE S-B-A OF MISUSING ITS LOAN AUTHORITY, PICKING WINNERS AND LOSERS WITH INVESTMENTS IN FIRMS WORKING WITH ARTIFICIAL INTELLIGENCE OR “GREEN” COMPANIES FOCUSED ON ENVIRONMENTAL PROJECTS.
SHE’S ALSO CRITICAL OF THE AGENCY’S TOTAL LOAN PORTFOLIO.
ERNSTSBA4 OC………TWO MAIN PROGRAMS.” :10
NEARLY 18 PERCENT OF U-S RESIDENTS LIVE IN RURAL AREAS.
ERNST SUGGESTS IF S-B-A LENDING WERE IN LINE WITH THE POPULATION, ANOTHER ONE-POINT-THREE BILLION DOLLARS WORTH OF LOANS WOULD BE MADE TO RURAL ENTREPRENEURS.
RADIO IOWA
