SFNet Weighs in with Lawmakers on Deficiencies in EIDL Loan Program

On Monday, April 19, SFNet and its members met with Rep. Dan Meuser (R-PA), a member of the House Small Business Committee, to educate him about the secured lending industry as well as discuss specific concerns of SFNet around the Economic Injury Disaster Loan program (EIDL) at the Small Business Administration (SBA).

SFNet has been drawing attention to misuses of the EIDL program that unfairly impact secured lenders, create challenges for borrowers and put tax payer dollars unnecessarily at risk.

The meeting was timely, as Rep Meuser participated in a congressional committee hearing the next day to discuss the SBA’s pandemic response programs. In this clip, Rep. Meuser highlighted our concerns, and asked the SBA Inspector General, as well as the Government Accountability Office (GAO) to meet with us to discuss these issues. The GAO is often called the “congressional watchdog” over taxpayer spending.   Please contact Michele Ocejo www.mocejo@sfnet.com for more information on SFNet actions on this issue.