Judy Chu

I appreciate her commitment to affordable loan refinancing.

The Community Advantage Program was established as a pilot at SBA nearly 10 years ago with the goal of meeting the credit, management, and technical assistance needs of small businesses in underserved markets.

This is so important, especially as wildfires rage through California, including in my very own district.

The participation has declined precipitously from 7,000 participants in 2010 to just 4,450 in 2019.

Planned Parenthood has been a lifeline for healthcare providers.

The National Community Reinvestment Coalition published a study showing that Black business owners with identical or better finances than White business owners were less likely to be offered Federal assistance.

Despite this clear mandate, Treasury and SBA failed to even collect demographic data of PPP applicants.

Since its inception, SBICs have created or sustained nearly 10 million jobs, and yet this program operates at extremely low risk to the taxpayer.

One thing I know, these businesses need help. So I plan to introduce legislation to authorize SBA's Community Advantage Loan Program.

I introduced H.R. 116, the Investing in Main Street Act, to allow banks to invest more of their capital in SBICs.

If you want to really make sure that you are making sure that the recovery is even, they should be targeted.

If SBA does not fulfill its mandate to reach these firms with in-language materials and services, they risk being left behind during our recovery.

Like I said, you have been provided $25 million to translate. And the reason that you haven't heard anything is probably because those people with limited English proficiency are shut out.

my recommendation to this committee and to the Congress is an auto forgiveness legislation is passed to direct the agencies to set up a $150,000 automatic forgiveness of loans.

the devil is in the detail, and there are a couple of items in there that are still requiring all the documentation as before.

The SBA's administration of EIDL has been unacceptable at a time when small businesses need this really more than ever.

This cap is just not reflective of the congressional intent and hurts individuals like you who despite not having employees have high overhead costs.

As a congress member representing Los Angeles County, I thank you for sharing your experience as a Los Angeles business owner.

Today, Congress will vote to extend funding for both the Paycheck Protection Program and the Economic Injury Disaster Loan and Grant Program.

This bill includes a $60 billion set-aside in lending authority specifically for small community lenders in the PPP that will truly serve small businesses.

That is why it is so important that Congress and this Committee help those small businesses get the assistance that they need.

We have also witnessed horrific instances of xenophobia and abuse directed towards Asian-Americans for no reason other than their appearance.

Asian American communities across the country have been severely impacted by the coronavirus outbreak.

I come here today in strong support of providing $10 million to continue America's successful and lifesaving demining program in Nagorno-Karabakh.

My district has one of the largest Chinese-American populations in the Nation, and I have heard firsthand of xenophobia directed at Asian-Americans.