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SBA administrator details reorganization, underwriting changes and staff reductions; senators ask whether cuts will hamper services
Summary
Administrator Loeffler outlined rapid reorganization steps at the Small Business Administration, including reinstating lender fees, tightening underwriting, identity checks and a substantial reduction in staff headcount; senators expressed concern about capacity to deliver programs while cutting district‑office staffing.
Administrator Loeffler told the committee she launched a “full scale reorganization” at the SBA to strengthen oversight, reinstate underwriting standards and restore lender fees, saying the moves were needed to stop what she described as earlier “sloppy underwriting.” She also said the agency had implemented identity and citizenship verification protocols to reduce fraud.
Loeffler told senators the agency canceled contracts that produced “total savings of more than $3,000,000,000” and said the SBA was returning staff and resources to its 68 district offices. She told the committee the agency…
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