WASHINGTON – U.S. Senator Joni Ernst (R-Iowa), Tuesday, co-led the Senate Committee on Small Business and Entrepreneurship’s hearing on the Small Business Administration’s (SBA) lending of COVID-19 relief loan programs, where she highlighted the ways these programs were exploited by bad actors, and the economic impact that record federal spending levels has had on inflation and Iowa small businesses.

IA Senator Joni Ernst speaks during a SBA hearing, Tuesday (8/2/22)

Ernst pressed the SBA on the amount of fraudulent loans awarded, efforts to recover these funds, and how she can work with the agency to ensure this does not happen again in the future

Ernst went on to say: