ABSTRACT

COVID-19 Relief Assistance to Small Businesses: Issues and Policy Options [Updated December 29, 2020]   [open pdf - 1MB]

From the Summary: "The U.S. Small Business Administration (SBA) administers several types of programs to support small businesses, including direct disaster loan programs for businesses, homeowners, and renters; loan guaranty and venture capital programs; management and technical assistance training programs; and contracting programs. Congressional interest in these programs has always been high, primarily because small businesses are viewed as a means to stimulate economic activity and create jobs, but it has become especially acute in the wake of the Coronavirus Disease 2019 (COVID-19) pandemic's widespread adverse economic impact on the national economy. This report provides a brief description of the SBA's programs and examines congressional action to assist small businesses during and immediately following the Great Recession (2007-2009) and during the COVID-19 pandemic[.] [...] One lesson learned from the actions taken to assist small businesses during and immediately following the Great Recession is the potential benefits that can be derived from providing additional funding for the SBA's Office of Inspector General (OIG) and the Government Accountability Office (GAO). GAO and the SBA's OIG can provide Congress information that could prove useful as Congress engages in congressional oversight of the SBA's administration of legislation to address COVID-19's adverse economic impact on small businesses, provide an early warning if unforeseen administrative problems should arise, and, through investigations and audits, serve as a deterrent to fraud."

Report Number:
CRS Report for Congress, R46284
Author:
Publisher:
Date:
2020-12-29
Series:
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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