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Kankakee Times

Thursday, May 2, 2024

Sims Jr. highlights Small Business Association's $44.8 billion in loans for helping Illinois owners 'stay afloat'

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Illinois State Sen. Elgie R. Sims, Jr. (D-Chicago) | Facebook

Illinois State Sen. Elgie R. Sims, Jr. (D-Chicago) | Facebook

Illinois state Sen. Elgie Sims Jr. is touting the Small Business Association’s (SBA) funding of small businesses as a saving grace for the local business community.

“The @SBAgov’s small business loans have helped our local businesses, especially ones in underserved communities, stay afloat,” Sims Jr. posted on Facebook. “Entrepreneurs are the backbone of our economy, and these loans will continue to support them as we continue to recover.”

U.S. Small Business Administration Administrator Isabella Casillas Guzman recently announced in fiscal year 2021 that the agency reached $44.8 billion in funding to small businesses through more than 61,000 traditional loans.

“In the midst of a once-in-a-generation pandemic, the SBA’s mission-driven team delivered a record number of SBA’s traditional loans to our nation’s small businesses – in addition to more than $1.1 trillion in COVID-related relief since the start of the pandemic,” Guzman added. “While progress has been made, our data also tells a deeper story: historic inequities in accessing capital persist, and we must do more to lower the barriers of entry to opportunity for all our entrepreneurs. We will continue to build on our impactful programs to meet small businesses where they are and connect them with the resources needed to thrive.”

The West Central Reporter reports that Sims recently exchanged heated words with state Sen. Steve McClure (R-Springfield) over a news report that Gov. J.B. Pritzker's administration was holding private sessions with Democrats over the state's redistricting process

"I am unaware of any meetings taking place," Sims responded at the Oct. 14 Senate Redistricting Committee hearing. "I've not seen the article so I can't comment on those meetings or that article."

Sims is now also sponsoring legislation to provide affordable housing for students attending Illinois community colleges, the Kankakee Times reported. After passing both chambers, House Bill 374 headed to the governor’s desk aiming to give community colleges the right to develop affordable housing for their students.

“This is about bettering the college experience for every student in this state,” Sims wrote in a May 4 Facebook post. “Research shows that students who live on campus have higher GPAs, and when students live on campus they are more plugged-in to the campus community and have more opportunities to join clubs, attend events and meet new people.”

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