{"id":2356553,"date":"2024-10-18T07:28:00","date_gmt":"2024-10-18T11:28:00","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/joni-ernst-accuses-sba-of-transparency-issues-over-disaster-relief-washington-examiner\/"},"modified":"2024-10-18T07:30:37","modified_gmt":"2024-10-18T11:30:37","slug":"joni-ernst-accuses-sba-of-transparency-issues-over-disaster-relief-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/joni-ernst-accuses-sba-of-transparency-issues-over-disaster-relief-washington-examiner\/","title":{"rendered":"Joni Ernst accuses SBA of transparency issues over disaster relief &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fjoni-ernst-accuses-sba-of-transparency-issues-over-disaster-relief-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2356553&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Senator Joni Ernst\u200b (R-IA) has raised \u2062concerns regarding \u200bthe Small \u2064Business Administration&#8217;s (SBA) transparency in managing disaster\u200d relief funds\u2062 after the\u200c agency ran out of\u2064 money following hurricanes Helene and Milton. President Joe Biden announced \u2064the depletion of\u2064 the SBA\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/heres-how-the-gops-stimulus-package-compares-to-bidens\/\" title=\"Here\u2019s How the GOP\u2019s Stimulus Package Compares to Biden\u2019s\">disaster loan program<\/a>, stating that affected individuals\u2062 could apply for loans but would not receive \u200cfunds until Congress approves new financing next month.<\/p>\n<p>Ernst criticized \u2063the\u200c SBA for\u2064 failing\u200c to provide necessary financial disclosures, which she believes contributed to the funding shortfall. She\u2063 emphasized that the SBA did not fulfill its legal obligations to notify Congress of potential financial issues in a timely\u2063 manner. According to \u2062Ernst, the \u2063SBA only formally\u200d requested additional funding\u2064 shortly before the funds ran out,\u2063 which \u200cshe views as inadequate \u2062and potentially indicative \u2064of \u200bdeeper internal issues.<\/p>\n<p>She\u200b expressed her worries over\u2062 the \u200cSBA\u2019s ability to effectively monitor\u2064 its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bipartisan-group-urges-congress-to-act-on-helene-disaster-relief-washington-examiner\/\" title=\"Bipartisan group urges Congress to act on Helene disaster relief - Washington Examiner\">disaster relief resources<\/a> and hinted at possible political motivations behind\u2064 the agency&#8217;s\u200c decisions. Ernst&#8217;s \u200ccomments \u2062underscore a lack of accountability within the SBA amid ongoing challenges affecting small \u200dbusinesses affected by natural disasters.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Joni Ernst accuses SBA of transparency problem after relief funds ran out<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1739303\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>Sen. <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/joni-ernst\/\" target=\"_blank\" rel=\"noopener\" title=\"Joni Ernst\">Joni Ernst<\/a> (R-IA) accused the Small Business Administration of not being transparent about its spending of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/john-stossel-obama-propaganda\/\" title=\"John Stossel: Obama Propaganda\">disaster relief funds<\/a> after the agency <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/energy-and-environment\/3190852\/small-business-administrations-disaster-fund-tapped-out-after-helene-and-milton\/\" target=\"_blank\" rel=\"noopener\" title=\"running out\">ran out<\/a>.<\/p>\n<div class=\"article-paywall\">\n<p>On Monday, President&nbsp;<a href=\"https:\/\/www.washingtonexaminer.com\/tag\/joe-biden\/\" target=\"_blank\" rel=\"noreferrer noopener\">Joe Biden<\/a>&nbsp;announced that the<a href=\"https:\/\/www.washingtonexaminer.com\/tag\/small-business-administration\/\" target=\"_blank\" rel=\"noreferrer noopener\"> <\/a>SBA&rsquo;s&nbsp;disaster loan program ran out of money after hurricanes Helene and Milton. While those affected by the disasters can still apply for loans, funds will be unavailable until next month when Congress approves new funding. In the meantime, Ernst accused the SBA of not properly disclosing its financial situation, resulting in it running out of funds at an inopportune time.<\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">Sen. Joni Ernst (R-IA) speaks to reporters after a closed-door meeting with fellow Republicans at the Capitol in Washington, Tuesday, Sept. 24, 2024. (AP Photo\/J. Scott Applewhite)<\/figcaption><\/figure>\n<p>&ldquo;We are deeply concerned about the SBA&rsquo;s handling of its disaster loan account and the SBA&rsquo;s failure to provide its authorizing committees statutorily required information,&rdquo; Ernst wrote. &ldquo;These concerns are only heightened by the SBA&rsquo;s lack of transparency, including the failure to provide an official Office of Management and Budget (OMB) request, and the requisite notifications and reports to authorizing committees.&rdquo;<\/p>\n<p>&ldquo;These considerable missteps by your agency and its urgent supplemental funding request raise significant questions as to the SBA&rsquo;s ability to monitor its disaster portfolio,&rdquo; she added.<\/p>\n<p>The Iowa senator blamed the SBA entirely for the funds running out, alleging it had failed to comply with legal requirements to disclose financial shortfalls in advance.<\/p>\n<p>&ldquo;Despite several news stories, the SBA failed to follow the law and only provided the statutorily<br \/>required written notification of a need for supplemental funding on October 10, 2024, days after<br \/>news stories broke,&rdquo; she wrote. &ldquo;Under existing law, the SBA already has several reporting requirements to provide Congress with sufficient notification and information before any shortfall occurs in its disaster account. Unfortunately, the SBA failed to comply, or only partially complied, with<br \/>several of these provisions and is now, at the eleventh-hour, sounding alarm bells.&rdquo;<\/p>\n<p>Ernst also hinted at possible political reasons behind the failure, adding, &ldquo;We must consider whether SBA&rsquo;s internal decisions were the catalyst for this unfortunate situation.&rdquo;<\/p>\n<p>She also claimed that the SBA conducted a costly expansion and failed to properly prepare its financials around it.<\/p>\n<p>&ldquo;Additionally, SBA&rsquo;s decision to administratively change its disaster loan program terms in 2023 and again in 2024, lead to a substantial increase in its subsidy rate, which the SBA failed to properly model and did not properly notify authorizers of the ramifications of these changes,&rdquo; Ernst wrote.<\/p>\n<p>The letter was also signed by Sens. Tim Scott (R-SC), Todd Young (R-IN), and James Risch (R-ID).<\/p>\n<p>New funding can&rsquo;t be approved until Congress returns on Nov. 12, after the election. Officials have said that Congress will not be <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/lawmakers-head-home-for-memorial-day-recess-as-debt-ceiling-deadline-inches-closer\/\" title=\"Lawmakers go on Memorial Day break as debt ceiling deadline approaches.\">called back early<\/a> despite calls to provide assistance to residents affected by the back-to-back hurricanes.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\" title><strong><\/strong><\/a><\/p>\n<p>The SBA assists renters, homeowners, and businesses recover after natural disasters. Those with existing loans will continue to receive payments, but no new loans can be issued.<\/p>\n<p>The Southeast was hit with two deadly hurricanes over a short period, stretching the United States&rsquo;s disaster response capabilities to its limit. Milton and Helene killed hundreds of people, making 2024 the deadliest hurricane season in years.<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1739303\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1739303\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Joni Ernst criticizes SBA for lack of transparency after relief funds deplete<\/p>\n","protected":false},"author":2653,"featured_media":2356554,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/10\/Ernst-SBA.webp","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[42075,33027,18658,12404,32076],"class_list":["post-2356553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-disaster-relief","tag-joni-ernst","tag-sba","tag-transparency","tag-washington-examiner"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/10\/Ernst-SBA.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2356553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2653"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2356553"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2356553\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2356554"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2356553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2356553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2356553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}