Disclosure
Loeffler: SBA Cut Headcount by 53% and Canceled $3B in Contracts
“I've cut my own agency's headcount by 53%. That's about three hundred million a year just in salary and expense. We've cut three billion dollars of contract, needless contracts out of their”
Assertion Contradicted
Loeffler: Biden Administration Tried to Forgive $200B in Pandemic Loans
“The Biden administration tried to forgive those loans, sweep it under the rug to the tune of about two hundred billion dollars.”
Assertion Partly supported
Loeffler: SBA revoked USAID authority over a $700M migration study contract
“Well, yeah, and the SBA earlier last year had to remove USAID's contracting authority because they were blowing out these programs. Eight programs for seven hundred million dollars for one contract to detect the root causes of migration into the United States.…”
Assertion Supported
Loeffler: SBA Uncovered $9B in COVID Fraud in California, $430M in Minnesota
“Turns out, four hundred and thirty million dollars of fraud in Minnesota. Then we go to California, nine billion dollars of COVID era fraud.”
Assertion Partly supported
Loeffler: IG Report Found Overseas IP Addresses Obtained PPP Loans
“So we had an Inspector General report that said there were hundreds of people from overseas IP addresses that were getting PPP loans.”
Assertion Supported
Loeffler: SBA Removed 150 D.C.-Based Businesses from 8(a) Program
“We just removed a 150 Washington D.C. Based So-called small disadvantaged businesses from the program, because they were neither small nor disadvantaged, but they were Washington cronies.”
Assertion Partly supported
Loeffler: Biden administration policies led to 80% no-bid government contracts
“I mean, they moved it up from a five percent statutory target to 15% of all government contracting. That's why the program almost doubled under Biden, and it went to about 80% no-bid contracts.”
Assertion Supported
Loeffler: SBA Launches First 8(a) Audit in 45 Years, Expels 1,000 Firms
“That's why we're doing the first audit of this program in 45 years. It's never been looked at. We've already kicked a thousand people out of the program.”
Opinion
Loeffler: Washington establishment is hostile to people in finance
“And I found when I got to Washington that the political establishments particularly on the left, are pretty hostile to people who have an interest in finance and understanding how to run a P and L, a balance sheet, and, To really follow through on what spendin…”
Assertion Partly supported
Loeffler: Current Cabinet Averages 13-15 Years Business Experience vs Biden's 2
“I think we have an average of 13 to 15 years business experience where the Biden administration had an average of Two years of private sector experience.”
Assertion Supported
Loeffler: SF Fed Found Government Spending Drove 43% of Inflation
“The San Francisco Fed came out with a survey that said about 43% of inflation can be explained through massive government spending.”
Disclosure
Loeffler: Committed to never owning cryptocurrency as a 'no-coiner'
“I'm a no-coiner. I always committed to never owning the asset.”
Assertion Supported
Loeffler: SBA delivered a record $100B in capital last year
“Yeah, so last year we put out a record in aggregate. We had a hundred billion dollar impact in getting capital to Main Street. Forty-five billion of that was through our lending programs, through our community lenders. About fifty-three billion went through ou…”
Disclosure
Loeffler: SBA aims to share its fraud detection model across government
“The goal is to create a replicable model that we can apply to other parts of not just our agency, but to share that broadly across the administration.”
Disclosure
Loeffler: SBA will automate contracting programs to curb local influence
“And we're going to make this a much more rules-based program, automated, so that you can't influence your local business development Contract.”
Assertion Partly supported
Loeffler: US has over 7M open jobs including 600k in manufacturing
“I think we have over seven million open jobs in this country, about 600,000 open manufacturing jobs, for example.”
Assertion Supported
Loeffler: House bill doubles SBA manufacturing loan limit to $10M
“So there's a bill that has passed through the House. We're waiting for passage in the Senate. We think this is rocket fuel for particularly the defense, ah, transportation, pharmaceutical, ah, industries that are coming back to America that we so badly need. S…”
Assertion Contradicted
Loeffler: SBA's 8(a) Program Represents $40B in Annual Contracting
“Let's, let's be clear, it's forty billion dollars worth of annual contracting.”
Assertion Supported
Loeffler: Small businesses drive 40% of GDP and create two-thirds of new jobs
“Well, that's right, on a GDP basis, and about the same amount from an employment rate basis, so small businesses create two out of every three new jobs, so it's incredibly, incredibly powerful economic engine for the country.”
Kelly Loeffler