The Ledger
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Loeffler: Biden administration banned SBA loans for purchasing AI technology
“In fact, with regard to AI, the Biden administration banned the use of SBA based loans for use of purchasing technology and AI.”
Loeffler: SBA has eliminated DEI criteria from loan underwriting guidelines
“We've stripped out the DEI that the last administration had put in.”
Loeffler: AI will create millions of software and manufacturing solopreneurs
“We're gonna create millions of solopreneurs who are gonna have massive software companies or manufacturing companies thanks to AI.”
Loeffler: Previous SBA underwriting policies caused $400M increase in loan losses
“As a result, the loan loss portfolio, the, on the portfolio went way up, four hundred million dollars.”
Loeffler: The US would not win back manufacturing without AI
“Without AI, we would not be winning back these industries”
Loeffler rewrote SBA rules allowing small businesses to finance AI implementation
“I had the rules rewritten. So now small business entrepreneurs, solopreneurs up to 515 hundred person factories can use the proceeds of their loan toward AI implementation, advanced manufacturing.”
Loeffler: David Sacks serves as AI and crypto ambassador in Trump administration
“Having David Sachs in this administration to be an ambassador for AI and crypto has been huge because it gives us a way to work across the administration.”
Loeffler: 85% of current jobs stem from technological advances
“Essentially, 85% of the jobs that exist today Have been driven by advances in technology, and only 40% of the jobs that we had back in 19 forties still exist today.”
Loeffler: US lost bicycle manufacturing, resulting in 98% imports
“We had lost the bike industry over the last 30 years, thousands of jobs, 98% imports.”
Loeffler claims Tesla received SBIC government-backed funding
“SBIC money was in Tesla, for example.”
Loeffler: 60% of SBA lending went to businesses with 1-5 employees
“60% of the 40, of the twenty one billion that we've lent this year have gone to companies with One to five employees.”
Loeffler: SBA is experimenting with equity structures and collaborating with DOD
“We're looking at making sure that we're, we have the right underwriting standards for critical industries as we're working on some things with Department of Defense right now we have our SBIC program that we're experimenting with some different equity structur…”