Financial Services and General Government Subcommittee Chairman Dave Joyce, Committee Chairman Tom Cole, and other members conducted an oversight hearing with Small Business Administration Administrator Kelly Loeffler in Washington, D.C., on July 16. Lawmakers emphasized their goal of fostering pro-growth environments for entrepreneurs while reinforcing their oversight responsibilities to ensure the SBA operates effectively and responsibly.
Chairman Dave Joyce said, “The breadth of SBA’s impact is extensive, and SBA plays a critical role in the growth and development of small businesses and ultimately to the economy of this country. There are different perspectives on how best to support small entrepreneurs.
“The Administration is proposing a $172 million rural fund, while Congress continues to fund the discrete EDP award programs that it has for several years. Neither is the right or wrong answer. But we need to work together to ensure the backbone of our economy has the support it needs to flourish into the future. Administrator Loeffler, that is why your appearance before us today is so important.”
Chairman Tom Cole said, “America has never lacked in entrepreneurial drive and innovative vision. What has made our country exceptional is our willingness to let that spirit flourish. From our earliest merchants to Main Street today, small businesses have created jobs, fueled growth, and expanded opportunity for generations.
“Congress and the Small Business Administration share a common objective: creating an environment where entrepreneurs can succeed. While the agency carries out its mission every day, this Committee has the responsibility to provide oversight, evaluate results, and work alongside the Administration to ensure federal programs remain effective, accountable, and responsive to the needs of job creators,” according to the official website, Tom Cole marks the 43rd person to serve as chairman for this committee.
Administrator Kelly Loeffler said she was committed “to leading the U.S. Small Business Administration (SBA) with discipline… grounded in data integrity, efficiency, accountability, transparency, and measurable results.” She added that “the Fiscal Year 2027 Budget reflects our commitment to restoring trust in an agency that rivals the largest banks in America for small business lending.” She referenced President Trump’s description of SBA as “the biggest bank in America,” stating he knows “that small business is big business.” The House Committee on Appropriations handles drafting annual spending bills allocating federal funds for government operations; it also provides guidance for community project funding requests included in appropriations bills according to the official website.
Republican FSGG Appropriators raised questions about SBA initiatives including reorganization efforts; application processing times; statutory requirements; potential rulemakings; vetting procedures; fraud prevention; COVID-era program integrity challenges; disaster assistance effectiveness; as well as issues unique to local communities encountered during district visits by Administrator Loeffler.
The hearing reaffirmed a commitment by House Appropriations Committee members toward responsible oversight of taxpayer dollars while ensuring that SBA remains accountable as a partner supporting America’s entrepreneurs. The committee influences policy through its role passing funding legislation such as Continuing Appropriations Acts according to the official website.