Small Business Situational Awareness in the Small Business Hearing on Pathways to Capitol

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At Tuesday’s Small Business Committee hearing, I thanked Associate Administrator Thomas Kimsey for working with my office to expand opportunities for the Marianas. While SBA is addressing fraud nationwide, our local small businesses, many with EIDL loans, are not abusing the system. They are fighting to survive in a tourism-based economy. Previously, I wrote to SBA Administrator Loeffler outlining this request. In my letter and in the hearing I emphasized the need for SBA to give them practical options to meet their obligations without defaulting or closing. Mr. Kimsey assured me that the Marianas remain a priority and that his office is exploring ways to improve access to capital for our islands.