FOLLOW US

America April 7, 2020 3 mins read

Opinion: Will rocky rollout of SBA loans affect Trump’s reelection efforts?

America ı By Rheanna Chou

0 Comments

USA Herald

Despite President Trump’s daily white house briefings describing the rollout of Small Business Association (SBA) loans as “flawless” and “without glitches,” Trump supporters, along with the rest of Americans, are becoming more and more frustrated with the lack of funding.

The $350 billion small business loan program was launched Friday, April 3, and has suffered a slew of technical issues and lacked clarity on loan requirements. A program that was supposed to provide much needed aid to small businesses across the country has fallen short of expectations, though Trump continues to sing its praises at every opportunity, recently tweeting about being “way ahead of schedule.”

Banks have received tens of thousands of applications for billions of dollars in loan amounts and have quickly been overwhelmed. Lacking direction from the Department of Treasury, banks began to sort through applications, prioritizing those that met their own standards. Basically, giving priority to those applicants who not only banked with them, but also had a prior credit history — leaving many applicants without access to critical funding.

NBC reported on Saturday that “Senior banking executives at Bank of America and Chase told NBC News they were still waiting on loan numbers to come back from the SBA, and so far had not processed any more than a trickle from the flood of applicants.”

The process itself is also presenting problems. Applicants must first go through their banks, which then forwards them through the SBA loan system. Unfortunately, many banks have reported issues accessing the portal and there isn't a way to speed up the system yet.

The president of the union representing SBA workers said he’s been hearing about “issues” with E-Tran since Friday, according to reporting by Bloomburg. And because these loans are awarded on a first-come, first-served basis, applicants who can’t get their loans processed because of technical issues may miss out on vital funding.

To combat this, President Trump announced today that he is trying to “supplement the money” available and is “in talks” to increase funding. And though he claims the SBA has processed $70 billion in loans, it’s still unclear when that money will be available.

If Trump can’t get this embarrassing debacle sorted out, this could affect his ability to win reelection. Small business owners on Twitter are tearing into the fumbled SBA loan rollout and frustration is mounting. Everyone is swiftly tiring of empty promises.

In February, CNBC reported Trump’s approval rating among small business owners had hit an all-time high at 64%. According to the survey, small business owners are more likely to be Republican than Democrat, which is why his approval rating was so high among this group.

But republicans, historically touted as the fiscally responsible party, are unlikely to be impressed if they’re unable to keep their businesses operating. If Trump can’t follow through on these SBA loans, he may see a decrease in approval ratings here going into the final leg of his election campaign.

Trump has maintained a strong base of supporters throughout his presidency, despite and maybe even because of his tendency to grandstand. He’s a personality that the blue-collar working man has been able to get behind. Will this be the final straw that ends his bid for reelection? Or will he pull it together last-minute and get funding out just in time to appease his voting base and follow through on promises of a strong economy?

 

 

 

Previous Article

Tapplock settles FTC complaint over its false advertising of its smart locks

Read More
23 Posts

Rheanna Chou

Rheanna is a journalist and editor based in the Pacific Northwest. She believes in writing about the facts and letting the reader form their own opinions.

Discussion

No comments yet. Be the first to join the discussion!

Don’t Miss It
America September 25, 2026
Tesla Insurance Blocked in NY Over VIN-Only Eligibility Rules
By – Rachel Moore
America September 24, 2026
Nolan Wells Autopsy: ‘No Fluid or Debris’ in Airways
By – Michallie Harrison
America September 24, 2026
AI Bots Are Calling Customer Service: When the Customer Is a Robot
By – Jackie Allen
America September 24, 2026
Minnesota Firearm Permit Lawsuit Challenges 30-Day Waiting Period
By – Rachel Moore
America September 24, 2026
People to Acquire MGM Bid Collapses as Diller Pulls Offer
By – Rachel Moore
America September 24, 2026
Island $6.4B Valuation Reflects Bet on…

Some companies grow steadily, year over year, in predictable increments.…

By – Rachel Moore
America September 24, 2026
Vitruvias Therapeutics Thyroid Recall FDA Elevated…

Not every product recall carries the same weight — some…

By – Tyler Brooks
America September 24, 2026
Walmart $16M Expired Formula Sales Settlement…

Expiration dates exist for a reason — they’re the quiet…

By – Tyler Brooks
America September 24, 2026
Delaware Department Insurance Agent Theft Case…

Insurance agents occupy a unique position of trust — clients…

By – Tyler Brooks
America September 24, 2026
Abacus $400 Million Securitization Marks Largest…

Some financial products are built to move fast; others are…

By – Tyler Brooks
America September 24, 2026
Daiichi Life Buys Shares in Apple,…

When an institutional investor decides where to park hundreds of…

By – Tyler Brooks
America September 24, 2026
Daiichi Life Buys Shares in Apple,…

When an institutional investor decides where to park hundreds of…

By – Tyler Brooks
America September 24, 2026
Starbucks Closing 250 Stores Across North…

What Starbucks Workers Need to Know Starbucks is closing roughly…

By – Samuel Lopez
America September 24, 2026
California’s $11 Billion Undocumented Immigrant Benefits…

By Samuel López | USA Herald SACRAMENTO – California is…

By – Samuel Lopez
America September 24, 2026
New York Sues Polymarket Over Alleged…

What’s Riding on the Bet New York says Polymarket’s sports…

By – Samuel Lopez
America September 24, 2026
Florida Pension Fund Sues New York…

What’s Behind the Records Fight Florida’s pension fund and another…

By – Samuel Lopez
America September 24, 2026
Federal Panel Deadlocks Over ABA’s Power…

What Law Students Need to Know The dispute now centers…

By – Samuel Lopez
America September 24, 2026
Gary Glitter: the Band, Crimes, Convictions…

 Gary Glitter, the former British glam-rock star whose real name…

By – Jackie Allen
America September 23, 2026
Roblox widow alleges $6 million scam,…

The Roblox widow says a former companion took $6 million…

By – Jackie Allen
America September 23, 2026
Bessent Threatens Global Shutdown of Iranian…

What Readers Need to Know Treasury Secretary Scott Bessent made…

By – Samuel Lopez
America September 22, 2026
Physical AI Increases Strain on Network…

Network planning has traditionally focused on a familiar problem: ensuring…

By – Jackie Allen
America September 22, 2026
Network Traffic Challenges May be Reshaped…

Network traffic has traditionally moved in one dominant direction: from…

By – Jackie Allen
America September 22, 2026
Brook LeBlanc’s Husband Hunt has People…

Online Dating standards, social media scrutiny and technology converge The…

By – Jackie Allen
America September 23, 2026
California Bar Examinees Reach $1.35 Million…

What California Bar Examinees Need to Know California bar examinees…

By – Samuel Lopez
America September 23, 2026
UPG Files for Chapter 11 as…

Steel distributor UPG Enterprises has turned to bankruptcy court as…

By – Tyler Brooks
America September 23, 2026
From ‘Star Wars’ to UAPs: How…

Signals Behind the Strategy The United States has now publicly…

By – Samuel Lopez
America September 22, 2026
Iran Threatens New Weapons As Congressman…

A Tennessee congressman is floating a very different explanation for…

By – Samuel Lopez
America September 22, 2026
9th Circuit Vacates State Order to…

By Samuel López | USA Herald The Ninth Circuit has…

By – Samuel Lopez
America September 22, 2026
Watchdog Groups and San Francisco Sue…

Legal Action at a Glance Multiple watchdog organizations filed a…

By – Samuel Lopez
America September 22, 2026
Hayden Panettiere’s Cause of Death Confirms…

What the Toxicology Findings Tell Us Hayden Panettiere’s death has…

By – Samuel Lopez
America September 22, 2026
Clavicular Charged With Rape In Massachusetts…

What Matters Now Braden Peters, known online as Clavicular, faces…

By – Samuel Lopez
America September 22, 2026
VP JD Vance and Dr. Oz…

Insurance Impact at a Glance CMS says it canceled 315,000…

By – Samuel Lopez
America September 19, 2026
Iranian Government Holds Rally as War…

The Iranian Government organized its allegedly largest rally since the…

By – Jackie Allen
America September 19, 2026
Businesses Face Rising ADA Lawsuits Over…

Key Takeaways Website-accessibility litigation is surging, with 432 new digital…

By – Samuel Lopez
America September 18, 2026
Cher Wins Procedural Victory As Conservatorship…

Key Takeaways Cher secured a procedural victory in her renewed…

By – Samuel Lopez
America September 21, 2026
Gilbert Goons Defendant Arrested Again for…

A Gilbert Goons defendant awaiting trial in the 2023 death…

By – Jackie Allen
America September 20, 2026
Caleb Williams Injury Ends Bears QB’s…

Some plays end with a first down. This one ended…

By – Rachel Moore
America September 20, 2026
Saquon Barkley Injury Sidelines Eagles Star…

Football fortunes can flip on a single play — and…

By – Tyler Brooks
America September 20, 2026
Meta Connect 2026: AI Glasses, Mixed…

Meta Connect 2026 is set to bring CEO Mark Zuckerberg…

By – Jackie Allen
America September 19, 2026
Kelsey Mitchell Breaks WNBA Scoring Record…

Kelsey Mitchell made WNBA history Friday night, scoring 33 points…

By – Jackie Allen
And More September 14, 2026
Sydney Sweeney and Scooter Braun Celebrate…

Sydney Sweeney celebrated her 29th birthday with a public declaration…

By – Jackie Allen

No posts found.

No posts found.

Signup for the USA Herald
exclusive Newsletter