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Hours before the federal government could potentially shut down, Rep. Nydia M. Velázquez (D-NY), the top Democrat on the House Small Business Committee, has released a report showing how America’s small businesses would suffer if the federal government shuts down. 

“All segments of the American economy will take a hit if Republicans fail to govern and let the government shut down,” Velázquez said. “However, small businesses in particular will be hard hit, losing out on procurement opportunities, access to capital and entrepreneurial services.”

Among other findings, the report notes that:

·         A shutdown would reduce capital availability to small businesses by $110 million per day due to delays and reductions in the Small Business Administration’s (7a) lending program.

·         A shutdown could prevent the disbursement of over 100 loans totaling $85 million each week through the SBA’s 504 loan program. 

·         On a daily basis, a shutdown could cause small firms to forgo approximately 6,8754 contract actions worth $301,656,083.

The report is available online here.