U.S. Rep. Jim Cooper (TN-05) sent a letter to the U.S. Department of the Treasury and U.S. Small Business Administration asking for more guidance from the Administration.
So far, little to no guidance has been issued to SBA lenders from the U.S. Department of Treasury or U.S. Small Business Administration, so businesses are having difficulty accessing funding from lenders who are unclear how to proceed with the loans. A story ran in the The Washington Post earlier this week.
"This is everyone's worst nightmare about government--it doesn't work when you need it the most," Rep. Cooper said. "Congress did its job; now the Administration should follow."
Read the full letter here. Additional information is available on Rep. Cooper's website.