Schneider Continues to Demand More Funding for Small Businesses

Today, U.S. Representative Brad Schneider (D-IL) released the following statement calling for more funding to support small businesses after news that the U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP) and Economic Impact Disaster Loan (EIDL) programs have both exhausted funding:

"In the last month I have been in touch with hundreds of small business owners across our district. They are angry, frustrated and they need support now, not next week or next month. The Trump Administration, including Treasury and SBA, was already falling short getting the money Congress sent to them out the door as soon as possible, and failing to accurately communicate with businesses how to apply and when money would be received.

"I have been pushing for more funding for small and mid-sized businesses since the beginning of this crisis. When Democrats pushed in March for $500 billion to be included in this program to help meet the demand, Mitch McConnell rejected it. Now as small business funding runs dry, as hospitals and front line workers fight night and day for their communities, and local governments face massive layoffs, McConnell continues to refuse desperately needed cash infusions.

"In addition to more funding, businesses need better guidance on the status of their applications so they can make the difficult, long-term financial decisions to keep their businesses afloat. I will keep fighting for the small businesses in my district and across the country, and will work with my colleagues on the House Small Business Committee to hold this Administration accountable for effectively administering these program.

"We cannot allow this Administration to shortchange those on the front lines of this crisis: our small businesses, our healthcare workers, and our state and local governments."