McMahon: SBA Loaning Money in Puerto Rico – By Joe Crowe (newsmax.com) / Oct 12 2017
Linda McMahon, the administrator of the Small Business Administration, said the agency is loaning money to get businesses in Puerto Rico back to work.
“This is the only time SBA actually loans money. Typically, we guarantee loans, so up to $200,000, whether it’s a business loan, a home loan, a mortgage, renters who have lost property, capital or inventory losses,” McMahon said Thursday on “Fox & Friends.”
McMahon said she had been in Puerto Rico, Texas, and Florida, with President Donald Trump and by herself, looking to see how the small business agency can help
“We have just now, for instance, in Houston, we have now approved over 12,000 loans, for about $1.1 billion. So that’s very meaningful in that market to get people back up and running,” McMahon said.
In Puerto Rico, applications for aid are slow coming in because of the power grid is down, McMahon said in the Fox News interview.
She also said that the SBA is setting to work in California in the wake of deadly wildfires. “We’ve already got boots on the ground. They are setting up some of the disaster relief offices,” McMahon said on Fox Business’ “Mornings With Maria.”
PB/TK – This is the news people need to hear/read from the POTUS; governments many departments working to help businesses open doors, getting people back to work after devastation, not garbage name-calling or negative attacks. These are the stories that need to be pushed.
