Hice and Clyde Seek Help With SBA Loan Failure

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Government Operations Ranking Subcommittee Jody Hayes (R-GA) and US Representative Andrew Clyde (R-GA) are seeking responses from the IRS regarding pending cases affecting SBA loan applications.

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Lawmakers sent IRS Commissioner Charles Rettig to the agency’s backlog and its impact on those applying for the Disaster Injury Disaster Loan (EIDL) through the Small Business Administration.

“Small business is the lifeblood of our economy and employs about half of American workers,” Hayes said. “The IRS, however, is seriously discouraging small businesses from seeking help through disaster loans. Congress approved funding for this emergency aid months ago, but huge IRS delays are preventing many employers from obtaining the paperwork they need to apply. It is imperative that the IRS address these shortcomings and reassure the American people that this gap will finally be resolved. “

Legislators have indicated that in order to receive an EIDL loan, applicants must provide tax certificates and other information. Delays by the IRS in obtaining the required paperwork hinder or slow down the process of obtaining loans.

Hayes and Clyde requested an IRS briefing as a means of informing Congress about the agency’s plans to handle taxpayer requests, especially those submitted by small businesses that need documentation to prove eligibility for the EIDL program.

“IRS delays are preventing America from starting to recover from this pandemic, especially our small businesses that are trying to get loans due to economic trauma and disaster,” said Clyde. “The IRS owes us answers and solutions for this backlog. Their failure will simply halt the recovery of the pandemic in America. The Georgians need action now. ”

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