WASHINGTON – Today, House Committee on Small Business Ranking Member Steve Chabot (R-OH) spoke on the House floor in support of reopening the Paycheck Protection Program and sending help to millions of small business owners and their employees. Remarks as prepared for delivery: I thank the gentleman for yielding. Madam Speaker, an important holiday is coming up next Saturday. Small Business Saturday is the day when we take time to support the restaurants, shops, and other small businesses that create two out of every three new jobs in America. ... [...]
WASHINGTON — Yesterday, the National Federation of Independent Business released the latest in a series of surveys on the small business impact of COVID-19. While the Paycheck Protection Program (PPP) has helped, most respondents have used all loan funds and indicate they will need help in the future. More than half expect they will need additional financial assistance in the next year. Three in four would apply or consider applying for a second round of PPP loans. 20 percent report that they will have to close if the economy does not improve o... [...]
WASHINGTON – According to a National Federation of Independent Business (NFIB) survey released earlier this week, entrepreneurs and small business owners continue to face uncertain futures. While 17 percent of respondents are exceeding their pre-crisis sales volume, many expressed the need for more help: 22 percent of Paycheck Protection Program (PPP) borrowers anticipate layoffs in the next six months. Nearly half of respondents anticipate needing additional financial support over the next year. 44 percent of owners would apply to the PPP for ... [...]
Today, House Committee on Small Business Ranking Member Steve Chabot (R-OH) issued the following statement on the National Federation of Independent Business (NFIB) monthly jobs report for September 2020: “Despite immense challenges, our nation’s small businesses continue to recover and rebuild. According to the NFIB’s September jobs report, more are reporting that they are creating jobs and raising wages. While this news is promising, the work of Congress is not done. Too many small businesses are still struggling, especially where public heal... [...]
WASHINGTON – Today, the House Committee on Small Business Subcommittee on Investigations, Oversight, and Regulations heard from officials from the Small Business Administration (SBA) Office of the Inspector General (OIG) and the United States Government Accountability Office (GAO) on oversight reports from the SBA OIG and GAO covering the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) Program. “To combat the economic impact of the Coronavirus pandemic, this Committee has worked to create and optimize economic relief ... [...]
