Velázquez Conducts Oversight of SBA 7(a) Rules Changes During Committee Hearing

Press Release

"Increasing access to capital for underserved entrepreneurs has been and will remain a priority for me as the top Democrat on this committee. However, I am apprehensive about the SBA's decision to remove many of the longstanding guardrails and program requirements on loan criteria and affiliation standards that have served the 7(a) program well while also lifting its moratorium on the licensing of new SBLCs. As SBA moves forward with these rule changes, this committee must ensure they are responsibly implemented and don't negatively impact the 7(a) program and individual borrowers."

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"I remain committed to filling the gaps in the market in a bipartisan and thoughtful way. The Small Business Committees in the House and the Senate have proven that we can work together to make a difference for our Main Street businesses. I look forward to doing just that again and working with the SBA and my Committee colleagues in both the House and the Senate to find a solution."

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