Senator Shaheen Questions SBA Administrator on District Office Staffing and STEP Program Cuts

SBA District Office Staffing Concerns

• 🎯 Senator Shaheen expressed concern over a proposed 30% cut to SBA district office staffing, highlighting that New Hampshire's office has been reduced from seven to three staff members.
• 💡 Small businesses in New Hampshire rely heavily on SBA programs and resource partners, and there are worries about the capacity of these entities to support businesses with reduced SBA staffing.
• 💬 Administrator Loeffler reaffirmed a commitment to the field, stating that 30% of SBA staff are now in the field, and efforts are underway to restaff offices following voluntary retirements.
• ⏳ While a specific timetable for hiring was not provided, Loeffler committed to working with Senator Shaheen's office to address staffing needs.

State Trade Expansion Program (STEP) Funding

• 🚀 The STEP program, introduced by Senator Shaheen, aims to help small and medium-sized businesses export their products, as 95% of markets are outside the U.S.
• 📉 Shaheen noted that the STEP program was zeroed out in the budget request, questioning what would replace it to support manufacturers and small businesses in international markets.
• ⚖️ Administrator Loeffler argued that fair trade is the primary program for international market access, suggesting it is more effective than grant programs which can be bureaucratic and complex.
• ⚠️ Loeffler believes fair trade allows businesses to compete on a level playing field, rather than relying on state-based grants.

Impact of Tariffs on Small Businesses

• 📊 Senator Shaheen shared an example of a bakery in New Hampshire that lost 85% of its business and went from 25 employees to two due to tariffs imposed by the President.
• 📉 Multiple businesses in New Hampshire are reportedly being put out of business by these tariffs.
• ❓ Shaheen questioned what the SBA can do to help small businesses compensate for the negative impact of these tariffs.