U.S. Senate Committee on Small Business & Entrepreneurship

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October 3, 2008

Harkin and Kerry question SBA loan rates

The Gazette, By: Adam Beltz

Sens. Tom Harkin, D-Iowa, and John Kerry, D-Mass., want to know why some flooded Iowa business owners can't get a low-interest loan from the Small Business Administration.

The senators sent a letter to the Office of Management and Budget and the Small Business Administration on Thursday, requesting all correspondence between the two federal agencies relevant to a 2007 SBA decision to change the way it decides what interest rates business owners get on disaster relief loans.

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