In a recent government meeting, concerns were raised regarding the Small Business Administration's (SBA) handling of COVID-19 assistance funds, which total over $1.2 trillion. Lawmakers criticized the agency for its lack of transparency and slow responses to congressional inquiries, which they argue undermines confidence in the allocation of taxpayer dollars.

The committee expressed frustration over the SBA's delayed document production, stating that the agency has stonewalled investigations into potential misuse of funds. This lack of cooperation has led to doubts about the SBA's credibility and effectiveness in serving America's job creators.

A significant point of contention was the SBA's memorandum of understanding with the State of Michigan, aimed at assisting with voter registration ahead of elections. Lawmakers argued that this initiative falls outside the agency's mandate and misuses taxpayer resources by involving federal agencies in the electoral process. The SBA's last-minute release of nearly 2,000 documents related to this agreement was described as a \"document dump,\" further aggravating committee members who felt it hindered their ability to conduct meaningful oversight.

Additionally, the SBA's recent changes to its lending programs were scrutinized. The agency reportedly reduced prudent lending standards for its flagship 7(a) loan program, leading to a tripling of early default rates. Lawmakers questioned whether the increase in loans was beneficial if it resulted in borrowers taking on unsustainable debt.

The committee emphasized its desire to collaborate with the SBA to support small businesses, but reiterated the need for timely and transparent communication to ensure effective oversight and responsible use of public funds.