News

Latest News

ICYMI: Rubio: Help Ecuador Defeat Gangs

How the United States can help Ecuador defeat narco-terrorism U.S. Senator Marco Rubio (R-FL) May 22, 2024 Voz Media …[A] wave of gang violence...has struck [Ecuador].... The Ecuadorian government is doing everything in its power to stem the mayhem…. [T]he United...

read more

ICYMI: Rubio Joins Fox and Friends

U.S. Senator Marco Rubio (R-FL) joined Fox and Friends to discuss pro-Hamas protesters disrupting congressional proceedings, the senator’s op-ed on terrorists crossing the border, and the Biden Administration’s too-little, too-late interest in protecting our southern...

read more

Chairman Rubio’s Statement on the SBA Inspector General’s Finding of Nearly $600 Million in Unverified Disaster Lending

Sep 26, 2019 | Press Releases

Washington, D.C. — U.S. Senator Marco Rubio (R-FL), Chairman of the Senate Committee on Small Business and Entrepreneurship, released the following statement after the U.S. Small Business Administration’s (SBA) Office of Inspector General (OIG) released a report finding the Office of Disaster Assistance negligent in its oversight of its online system, which resulted in nearly $600 million of unverified loans.
 
“When disaster strikes, our communities and small businesses rely on programs like SBA’s disaster loans, to rebuild and recover,” Rubio said. “The pattern of SBA’s gross lack of oversight, which has led to egregious waste, fraud, and abuse throughout the agency’s programs, is deeply unsettling. As Chairman, the agency’s inability to protect taxpayer dollars and provide effective services to America’s small businesses will not go unchecked.”
 
Since January of 2017, the SBA has performed remote site inspections to determine the cost of restoring damaged property to its pre-disaster conditions called, Desktop Loss Verification. The SBA OIG found that SBA officials did not validate the cause and extent of replacement costs prior to disbursing federal loans. The SBA also inappropriately used FEMA inspection reports that did not contain sufficient validation of damages and losses needed to verify their desktop system. This resulted in SBA disbursing over 36,000 loans totaling $594,286,878, without validation. There was also no assurance that disaster loans were even made to disaster survivors impacted by Hurricanes Harvey, Irma or Maria.