Tag: SBA

Commentary: Seven Ridiculous Examples of Government Waste in 2023

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Congress Spending

Almost nobody doubts that the federal government wastes a lot of money. Every day we hear stories of fraud, mismanagement, and misplaced priorities that cost taxpayers millions, and sometimes billions, of dollars.

But just how much money is wasted? In his annual Festivus report—named after the fictional Seinfeld holiday—Senator Rand Paul tallies up some of the most egregious examples of government waste from the year. The report for 2023 came out on December 22, and as usual, the stories spanned the range from hilarious to deeply disconcerting. In all, Paul identified $900 billion in government waste from 2023.

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FEMA Urges Tennessee Businesses Affected by Tornadoes to Apply for Relief Immediately

Peter D'Abrosca
Tennessee Tornado

The Federal Emergency Management Agency (FEMA) is urging Tennessee businesses that suffered damages during the deadly tornadoes that ripped through the state earlier this month to apply for financial relief as soon as possible. 

“FEMA may refer survivors of the Dec. 9 tornadoes to the U.S. Small Business Administration (SBA) with information on how to apply for a disaster loan. It’s important to submit the loan application as soon as possible,” the organization said in a Wednesday release. “SBA disaster loans are the largest source of federal disaster recovery funds for survivors. SBA offers long-term, low-interest disaster loans to businesses of all sizes, private nonprofit organizations, homeowners and renters.”

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Federal Government Loans, Private Grants Available for Small Businesses Affected by Middle Tennessee Tornadoes

Peter D'Abrosca

Small businesses impacted by the deadly tornadoes that killed six people in Middle Tennessee are eligible for federal government and private grant assistance, as relief continues to pour in. 

“Low-interest disaster loans from the U.S. Small Business Administration (SBA) are available to businesses and residents in Tennessee following the announcement of a Presidential disaster declaration due to severe storms and tornadoes on Dec. 9, 2023,” said the SBA on its website. 

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SBA Oversight Failures Lead to $93M in Questionable Awards to Disadvantaged Firms, Internal Audit Finds

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The Golden Horseshoe is a weekly designation from Just The News intended to highlight egregious examples of wasteful taxpayer spending by the government. The award is named for the horseshoe-shaped toilet seats for military airplanes that cost the Pentagon a whopping $640 each back in the 1980s.

This week’s Golden Horseshoe is awarded to the Small Business Administration, which awarded $93 million in questionable contracts to small businesses owned by socially and economically disadvantaged individuals under the agency’s 8 (a) Business Development Program, according to a recent audit by the SBA Office of Inspector General.

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After a Year of COVID Lockdowns and Restrictions, Representative Cooper Writes Letter to Biden Administration to Save Nashville’s Dying Live Music

Corinne Murdock

After a year of supporting mandated COVID closures, Representative Jim Cooper (D-TN-05) begged the Biden Administration to save some of Nashville’s historic live music venues. On Wednesday, Cooper penned a letter to the Small Business Administration (SBA). The representative asked the SBA to expedite their Shuttered Venue Operators Grant (SVOG) for the businesses that faced several months of mandatory closure and a year of lockdowns and restrictions in his district.

“Nashville’s live music venues and theaters are in dire need of help through the Shuttered Venues Operators Grant program,” tweeted Cooper. “I’ve urged the @SBAgov Administrator to immediately expedite the applications of our cultural centers. Music City can’t lose these treasures.”

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SBA Hid Communications with Planned Parenthood Amid GOP Criticism Over PPP Loans

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The Small Business Administration hid communications with Planned Parenthood regarding COVID-19 loans that Republicans say were illegal, emails obtained by the Daily Caller News Foundation show.

The SBA released heavily redacted emails between the agency, lenders and Planned Parenthood affiliates in response to a Freedom of Information Act request the DCNF filed in May 2020. GOP lawmakers had previously demanded an investigation into $80 million in Paycheck Protection Program (PPP) loans, saying they were obtained illegally.

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Cotton, Senators Demand SBA Stop Planned Parenthood’s ‘Naked Attempts to Defraud’ Government Through PPP Loans

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Republican Arkansas Sen. Tom Cotton is leading lawmakers in calling on the Small Business Administration (SBA) to investigate alleged illegal loans distributed to Planned Parenthood affiliates, according to a letter exclusively obtained by the Daily Caller News Foundation.

“Planned Parenthood affiliates are well aware that they are ineligible to receive PPP loans, on the basis of SBA’s letters and the frank admission of their political action committee” the senators wrote in a Thursday letter to SBA Administrator Jovita Carranza. “Their attempts to apply for PPP loans are naked attempts to defraud the United States government.”

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Rubio Calls for SBA to Investigate $80 Million in Coronavirus Funding to Planned Parenthood

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Republican Florida Sen. Marco Rubio called Friday for the Small Business Administration to investigate how 37 Planned Parenthood affiliates received $80 million in coronavirus stimulus loans.

In a letter to SBA Administrator Jovita Carranza, Rubio told Carranza that “the application for and receipt of loans through the program suggests unlawful conduct,” noting that “the application for a loan through the program would have required a Planned Parenthood affiliate to list the national organization as an affiliate organization.”

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SBA: 2.2 Million Loans, $175B Issued So Far in 2nd Round of Paycheck Protection Program

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The Small Business Administration and the U.S. Treasury revealed Sunday that the second round of the Paycheck Protection Program has issued 2.2 million loans, totaling $175 billion.

PPP loans are forgivable loans for small businesses to offset some of the losses experienced by the response to the COVID-19 pandemic. The loans are meant to provide a direct incentive for small businesses to keep their workers on the payroll.

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80 Percent of Small Business Owners Are Waiting to Receive a Loan from the SBA, Survey Finds

Zachery Schmidt

The National Federation of Independent Business (NFIB) Research Center released a survey Tuesday that said 80 percent of small business owners are still waiting to receive a loan from the Paycheck Protection Program (PPP).

“Small businesses were prepared and ready to apply for these programs, the only financial support options for most, and it is very frustrating that the majority of these true small businesses haven’t received their loan yet,” Holly Wade, NFIB Director of Research & Policy Analysis, said. “Small businesses make up nearly half of the economy and it’s crucial that their doors stay open.”

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