SBA Faces Resource Challenges to Support Small Businesses

The government is working to ensure that the Small Business Administration can offer small businesses up to $50 billion in loans in order to weather the impact of the coronavirus; the SBA will face an uphill battle as they look to deal with lenders; part of the problem is lack of funding and infrastructure to support getting the funds out; past data shows that the SBA’s disaster authority has never dealt with anywhere near this level of “economic injury” loans to businesses; In the past a majority of these loans have been made to individuals due to weather damage; between 2005 and 2015 the SBA handled $4 billion in disaster loans; there is also the question of whether $50 billion will be enough to support small businesses as CNBC delves further into. CNBC

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