I do want to thank you as well for the letter that was sent back to Chairman Cardin and I.
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Fraud in ineligible firms were supposed to be flagged and recouped on the back end through the forgiveness process, yet the Biden administration has forgiven $754 billion, or 92 percent of all PPP loans.
I do want to caution because I know we do hear from, if you look at the 504 program, those lenders do support the changes in the underwriting because it does help streamline and provide efficiency in their program.
We are concerned about the SBDCs and the field offices.
A critical commitment I received from Mr. Syed is to prioritize fraud detection and prevention, which is among the greatest obstacles facing the SBA.
I hope that this has been a one-off situation, but I think it is encouraging many of those institutions to go back and relook what their practices are.
When the credit market tightens we have historically seen a higher volume of SBA lending.
A primary focus of the agency should be to aid in the recovery of the more than $100 billion in fraudulent and improper loans made through the SBA COVID relief programs.
Letting them continue has been a bipartisan priority under Presidents Obama, Trump, and now Biden.
I want to thank the administration for implementing the new and voluntary Rural Emergency Hospital program that I have worked for 3 or 4 years to get passed.
This is fundamental to our whole approach to trade.
This is fundamental to our whole approach to trade.
It is my belief that the USDA's discretionary use of CCC undercuts this Committee farm bill process.
Yes. See, I am going to start out with my favorite subject every time we have a farm bill up, on farm payment limitations.