Jim Jordan: “I believe the bill shortsightedly tries to move a good organization, the U.S. Small Business Administration, further…”

“I believe the bill shortsightedly tries to move a good organization, the U.S. Small Business Administration, further from its original mission of helping create, strengthen and maintain small businesses across our country. The SBA was created by the Small Business Act of 1953. Its mission was to stand up for small businesses, and its main focus, other than loan guarantees, was promoting small businesses for Federal contracts. Since then, the SBA has grown to become the largest backer of small businesses in America. It has made progress toward its goal of improving small business and the engine of our free market economy. Of late, though, the SBA has done more in fueling small business to coordinating disaster relief for businesses and homeowners. This is certainly a worthy goal, but again, one that strays from its fundamental mission. As the ranking member pointed out, this bill would require the SBA to provide loans it once denied as bad risks.”