WASHINGTON — With claims of a distortion of the facts, the Small Business Administration has once again criticized The New York Times for a recent article discussing the agency's operation.
The main thrust of the May 31 article, with the headline "Small Business Not as Usual," is that post-2004 loan fee increases and poor service due to budget and staffing cuts have caused borrowers to drop out of SBA's loan programs.
"This premise is flat-out wrong," the SBA said in a statement. "Due to the hard work of SBA district offices and Capital Access personnel, SBA loans have set new records in the last two years, both in number of loans made and total dollars lent. If The Times gave this fact proper weight it would have run a positive story under the headline, 'Despite Fee Increases, Staff and Budget Cuts, SBA Loans Set New Records.'"
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