UTICA, N.Y. – Congressman Anthony Brindisi criticized the Small Business Administration Friday for failing to distribute Payroll Protection Program funding in a way that’s fair to small, rural businesses.
“What we have seen in the first part of the PPP is that many large businesses who had more sophisticated relationships with their lenders took advantage of the programs,” he said.
Brindisi says changes have been made to the program, and the next round of funds should be designated for smaller banks and credit unions to lend to small businesses.
He still urges the SBA to more carefully balance the distributions.
“But the SBA has to do a better job administering the funds. There's a great disparity now between what New York is getting and what other states are getting,” he said.
According to Brindisi, New York received the second-lowest percentage of PPP funding in the nation. He says in the the 22nd congressional district alone, there are 11,000 small businesses that employ 113,000 people.