The agency acknowledged the Covid disaster loan program “was an unprecedented program to stand up, scale, and administer during the pandemic.”The economic injury disaster loan program traditionally helped businesses hurt by hurricanes, earthquakes and other localized disasters.
Then, in the two years after Covid struck, the agency approved 3.9 million loans totaling $378 billion, a spokesperson said.
As of this month, the SBA has referred almost 893,000 Covid disaster loans to Treasury for collections, with nearly all of them sent this year.
“It shouldn’t be this hard to pay back a loan,” Harb said.
But after following instructions and making several payments by mail to an SBA office in Texas, he learned the Texas office had closed.
Persons:
“, Covid, General’s, ”, Curran, Harb, it’s, Harb’s, ” Harb, Robert Mavaddat, Sams
Organizations:
SBA, Office, Treasury, Treasury Department
Locations:
California, Texas