WASHINGTON – According to a National Federation of Independent Business (NFIB) survey released earlier this week, entrepreneurs and small business owners continue to face uncertain futures. While 17 percent of respondents are exceeding their pre-crisis sales volume, many expressed the need for more help: 22 percent of Paycheck Protection Program (PPP) borrowers anticipate layoffs in the next six months. Nearly half of respondents anticipate needing additional financial support over the next year...
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Today, House Committee on Small Business Ranking Member Steve Chabot (R-OH) issued the following statement on the National Federation of Independent Business (NFIB) monthly jobs report for September 2020: “Despite immense challenges, our nation’s small businesses continue to recover and rebuild. According to the NFIB’s September jobs report, more are reporting that they are creating jobs and raising wages. While this news is promising, the work of Congress is not done. Too many small businesses ...
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WASHINGTON – Today, the House Committee on Small Business Subcommittee on Investigations, Oversight, and Regulations heard from officials from the Small Business Administration (SBA) Office of the Inspector General (OIG) and the United States Government Accountability Office (GAO) on oversight reports from the SBA OIG and GAO covering the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) Program. “To combat the economic impact of the Coronavirus pandemic, this Committee ...
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WASHINGTON – Today, the House Committee on Small Business heard from small business owners and other witnesses on the impact of COVID-19 on the nation’s food system. “America’s food system has been hit particularly hard: our favorite restaurants were closed; meat sections were low at grocery stores; and many essentials were sold out. …Our nation’s food system is typically geared to meet commercial demand, from restaurants, buffets, and cafeterias, more than retail demand from grocery stores. Whe...
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WASHINGTON – Today, the House Committee on Small Business Subcommittee on Economic Growth, Tax, and Capital Access heard from witnesses on the loan forgiveness process for the Small Business Administration’s Paycheck Protection Program. Below are the remarks of Ranking Member Kevin Hern (R-OK) as prepared for delivery: Thank you, Mr. Chairman, and thank you for holding this important and timely hearing. Small businesses across this nation, from my state of Oklahoma to the Chairman’s district in ...
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WASHINGTON – Today, the House Committee on Small Business Subcommittee on Innovation and Workforce Development heard from Small Business Administration (SBA) Associate Administrator William Manger on the Paycheck Protection Program (PPP) Loan Forgiveness process. “As we all know, the CARES Act initiated by the landmark Paycheck Protection Program, or PPP, that provided small businesses partially forgivable, low interest loans to keep their employees on the payroll during the pandemic,” said Rank...
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WASHINGTON – Today, House Committee on Small Business Steve Chabot (R-OH) spoke on the House floor in support of targeted support for America’s small business owners through his bill, H.R. 8265. Remarks as prepared for delivery: I thank the gentleman/gentlelady for yielding. Mr./Madam Speaker, it has now been 46 days since the Paycheck Protection Program, also known as PPP, shutdown. This means that small businesses have been prevented from applying for CARES Act funding through the PPP for over...
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WASHINGTON – Today, the House Committee on Small Business held a markup of legislation to enhance U.S. Small Business Administration (SBA) lending and contracting programs. “Over the past six months, our Committee has been working nonstop on emergency measures to help our nation’s small businesses survive these challenging times,” said Ranking Member Steve Chabot (R-OH). “And as we move forward towards recovery, it is more important than ever that the SBA’s core programs are running at their opt...
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WASHINGTON – Today, House Committee on Small Business Ranking Member Steve Chabot (R-OH) introduced a bill that would reopen the Small Business Administration (SBA) Paycheck Protection Program (PPP) to America’s 30 million small businesses. “Congress must come together to help our nation’s small businesses. They create two out of three new private sector jobs and make the American Dream possible for millions of Americans. While many are thriving, others still need help,” said Ranking Member Chab...
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WASHINGTON – Today, the House Committee on Small Business Subcommittee on Contracting and Infrastructure heard from Associate Administrator Dr. Francis Spampinato on Small Business Administration Office of Government Contracting and Business Development (GCBD). “The GCBD’s primary goal is simple: to advocate on behalf of small businesses in the federal procurement world. This office is uniquely positioned to develop policies that affect nearly every federal agency and, with hundreds of billions ...
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