Latest / Sid & Friends In The Morning / Kelly Loeffler | 06-24-26

Transcript

Kelly Loeffler | 06-24-26 · Sid & Friends In The Morning

• 0:00
  Speaker 1: We have Head of Small Business Administration, Kelly Loffler joining
• 0:03
  Speaker 1: us right here in the studio. Bonnie's giving her time
• 0:06
  Speaker 1: for now for that, So, miss Laufler, thank you so
• 0:09
  Speaker 1: much for joining us. We've been talking about these results
• 0:13
  Speaker 1: of these elections here in New York last night. Frightening
• 0:15
  Speaker 1: results in our collective opinion, Communists, socialists winning these congressional campaigns.
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  Speaker 1: And they all pretend to run like they're hoping to
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  Speaker 1: boost the economy, hoping to be friends to small businesses
• 0:28
  Speaker 1: across the country. And yet, and yet, and yet, all
• 0:30
  Speaker 1: they do is talk about it, seem only interested in
• 0:33
  Speaker 1: Israel or bashing is I mean, small business people have
• 0:36
  Speaker 1: to be talking to you about this, Jake.
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  Speaker 2: First of all, it's great to be with y'all in
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  Speaker 2: this room. This is incredible. I'm thrilled to be in
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  Speaker 2: New York. I'm saddened that they have now characterized New
• 0:44
  Speaker 2: York as the corridor of communism. It's the capital of capitalism.
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  Speaker 2: Should be, it absolutely should be. There are two point
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  Speaker 2: nine million small businesses in New York alone, employing four
• 0:58
  Speaker 2: million New york I have walked factory floors in New York.
• 1:02
  Speaker 2: In fact, I'm heading out to Long Island to visit
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  Speaker 2: a small manufacturer. Imagine this group seizing the means of production,
• 1:10
  Speaker 2: becoming you know, can barely run the city. Now they're
• 1:13
  Speaker 2: going to be talking about running your small business and
• 1:16
  Speaker 2: being responsible for your family's livelihood and income. And you
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  Speaker 2: know the benefits that these small businesses provide their hard
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  Speaker 2: working families. And so you know, we're advocating at the
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  Speaker 2: SBA to celebrate free enterprise. That's what built this country.
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  Speaker 2: Before our founders were founding fathers, they were small business
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  Speaker 2: owners and founders. That is the history of this nation
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  Speaker 2: for two hundred and fifty years, and we have to
• 1:41
  Speaker 2: fight to make sure that it will be the next
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  Speaker 2: two hundred and fifty years.
• 1:44
  Speaker 1: Here's another reality that I know that you know well,
• 1:46
  Speaker 1: Kelly Laffler. Job growth in America is all from small business.
• 1:51
  Speaker 1: The big corporations when you hear they're hiring, it means
• 1:54
  Speaker 1: they cut somewhere else. The only real you know, so
• 1:57
  Speaker 1: when people say, well I saw this job supported and
• 1:59
  Speaker 1: it was only this little bit, that's how jobs get
• 2:01
  Speaker 1: created in this country. That's where we get the net gains.
• 2:05
  Speaker 1: What are we seeing from this what are they telling
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  Speaker 1: you now is their you know, let's not all be
• 2:09
  Speaker 1: all negative. What's their best positive right now and also
• 2:12
  Speaker 1: their biggest negative.
• 2:13
  Speaker 2: Yeah, So small businesses across this country, one year after
• 2:17
  Speaker 2: the working family tax cut has gone into effect, are
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  Speaker 2: really spring loaded because they needed to know that they
• 2:23
  Speaker 2: weren't going to be massively taxed. Remember, the Democrats voted
• 2:26
  Speaker 2: for a five trillion dollar tax increase on the American
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  Speaker 2: people that would have resulted not just in small business closures,
• 2:32
  Speaker 2: but the loss of millions of jobs. So small businesses
• 2:35
  Speaker 2: are breathing a huge sigh of relief for the last year,
• 2:38
  Speaker 2: which is why we have all time record business formation
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  Speaker 2: in this nation month after month after month this year.
• 2:45
  Speaker 2: And small businesses, which you're exactly right, Jake, create two
• 2:49
  Speaker 2: out of every three new jobs, about upwards of seventy
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  Speaker 2: eighty percent of most jobs. We just created in the
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  Speaker 2: last three months, five hundred and sixty thousand new jobs,
• 2:58
  Speaker 2: blowing away estimates. The estimates were for half of that.
• 3:02
  Speaker 2: And so small businesses are just glad that the era
• 3:05
  Speaker 2: of massive regulation, big government, high taxes is out of
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  Speaker 2: the way and let them run. Mainly, they say, just
• 3:11
  Speaker 2: get out of the way and let us do what
• 3:13
  Speaker 2: we do best. And that is exactly what President Trump
• 3:16
  Speaker 2: is doing for this country.
• 3:17
  Speaker 1: One of the biggest gauges of business and economy in America,
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  Speaker 1: in my opinion, is pickup sales. When you see that
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  Speaker 1: the Ford F one fifty is still the number one
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  Speaker 1: selling vehicle in America, but now getting a run for
• 3:28
  Speaker 1: its money from the Chevy Silverado. We want all this
• 3:30
  Speaker 1: to happen. You know that it's plumbing companies, contractors, maybe
• 3:34
  Speaker 1: even a florist who needs a pickup to make a
• 3:36
  Speaker 1: delivery at a wedding. That's when you know things are
• 3:38
  Speaker 1: going well. And even with the supply problem that Ford
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  Speaker 1: had with the uswego plant, aluminum, plant burning, and all
• 3:44
  Speaker 1: that kind of stuff, it's still pumping them out. We
• 3:47
  Speaker 1: were just talking before you came in. We want to
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  Speaker 1: see more of our education directed to blue collar jobs
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  Speaker 1: and blue collar skills as can a small business. Is
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  Speaker 1: there still a bias I mean, not for you personally
• 4:00
  Speaker 1: on it, but you see in the swamp and you
• 4:02
  Speaker 1: see a bias against small businesses that might be blue
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  Speaker 1: collar getting an SBA loan or something like that. I mean,
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  Speaker 1: is there anything in their way?
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  Speaker 2: Not in the Trump administration. In fact, we're getting it
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  Speaker 2: out of the way. In fact, we've just promulgated rules
• 4:14
  Speaker 2: to ensure that federal contracting cannot discriminate against white owned
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  Speaker 2: small businesses in the way that the Biden administration did.
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  Speaker 2: But even more to your point, this is about an
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  Speaker 2: opportunity for all small businesses from of all backgrounds. If
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  Speaker 2: you're qualified, you can get an SBA loan, but you
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  Speaker 2: have to meet the standards. We're not going to waive
• 4:34
  Speaker 2: it for certain people. And that's why the SBA last
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  Speaker 2: year put out record capital forty five billion to eighty
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  Speaker 2: five thousand small businesses, but also put the guardrails back
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  Speaker 2: up on lending, no more green new deal DEI type lending.
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  Speaker 2: Let me just say about your comment about Ford and
• 4:51
  Speaker 2: Chevy trucks. There's a massive amount of small businesses in
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  Speaker 2: those supply chains that employ hard working Americans that are
• 4:58
  Speaker 2: tradesmen and women. And I am thrilled that trade school
• 5:02
  Speaker 2: is coming back in this country. I was last week
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  Speaker 2: with the Labor Secretary. We're traveling around Michigan meeting with
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  Speaker 2: trade schools, watching young kids learn everything from welding to
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  Speaker 2: manufacturing using robotics for semiconductors. So this nation is going
• 5:18
  Speaker 2: to be a nation of builders again thanks to President Trump.
• 5:21
  Speaker 1: You know, I think a couple of years ago, and
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  Speaker 1: this was this was before President Trump came back into office.
• 5:25
  Speaker 1: Show me that again. It's it's the business people, small
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  Speaker 1: and large to do things. It was a it was
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  Speaker 1: a Coca Cola Cola bottler that donated a big eighteen
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  Speaker 1: wheeler Coca Cola truck to a to a trucking school
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  Speaker 1: in you know, in the South. So it's not Businesses
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  Speaker 1: aren't just creating jobs, they're also giving back in their
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  Speaker 1: own way.
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  Speaker 2: Absolutely. Look think about you know, who sponsors the local
• 5:47
  Speaker 2: softball team, the little league, Who sponsors the parades and
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  Speaker 2: everything that happens on main street across this country. Who says,
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  Speaker 2: I see a police officer walking in, I'm going to
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  Speaker 2: buy his lunch. That's the small business owner. They honor
• 6:00
  Speaker 2: our hardest working Americans, they honor our veterans, They give back,
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  Speaker 2: They create jobs, and look, they're the biggest provider of
• 6:08
  Speaker 2: job training. Think about your first job, probably at a
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  Speaker 2: small business. They taught you to show up on time,
• 6:14
  Speaker 2: punch the time clock. That's what small businesses do. And
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  Speaker 2: now formally the Trump administration is supporting one million apprenticeships.
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  Speaker 2: A lot of those are going to happen at small
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  Speaker 2: businesses to have those work based learning opportunities for young people.
• 6:28
  Speaker 3: Kelly, this is Fernando Matteo. Welcome to the studios, and
• 6:32
  Speaker 3: we're honored to have you here. We know you work
• 6:34
  Speaker 3: very hard to help small businesses here in New York
• 6:38
  Speaker 3: and probably around the country, but New York has lost
• 6:41
  Speaker 3: about sixteen thousand small businesses in the last year or so.
• 6:48
  Speaker 3: We see many of these businesses continue to shut down,
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  Speaker 3: and we don't see a government here in New York
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  Speaker 3: that's truly helping us in any way, shape or form.
• 6:58
  Speaker 3: You have bodego owners where crime is extremely high, working
• 7:02
  Speaker 3: the poorest areas of New York City. If you walk
• 7:06
  Speaker 3: up and down the main avenues, you see all these
• 7:09
  Speaker 3: shutdown stores, stores available. What can the SBA do to
• 7:14
  Speaker 3: help get these businesses reopened? With landlords that are asking
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  Speaker 3: crazy rent because their mortgages are very high, is there
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  Speaker 3: anything that the SBA can do to assist to help
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  Speaker 3: open these businesses?
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  Speaker 2: Again, Well, Fernando, it's great to be with you, and
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  Speaker 2: I'm so glad you asked the question that way, because
• 7:33
  Speaker 2: absolutely there are things that the SBA does every single day.
• 7:37
  Speaker 2: Can we overcome some of the blue state blue city problems.
• 7:42
  Speaker 2: Maybe not in all cases, but we can make sure
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  Speaker 2: that we have access to capital. Those SBA guaranteed small
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  Speaker 2: business loans that by the way, operate at zero subsidy.
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  Speaker 2: They are not subsidized by taxpayer, but they're subsidized by
• 7:55
  Speaker 2: a guarantee fee that is paid to the government, so
• 7:57
  Speaker 2: that one small business that isn't subsidizing other. We also
• 8:00
  Speaker 2: have small Business Development Centers that help small businesses navigate
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  Speaker 2: the complexities of some of these regulatory or tax or
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  Speaker 2: insurance or costs that they might be seeking advice for.
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  Speaker 2: And then finally, we have our Veterans Business Opportunity Centers
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  Speaker 2: that we support veterans, so we try to make sure
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  Speaker 2: that we have something that serves every part of the market.
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  Speaker 2: Even if you never use a loan product, we have
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  Speaker 2: that counseling available.
• 8:27
  Speaker 1: Another topic you're an expert on, Kelly Loffler, Small Business
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  Speaker 1: Administration chief is farming Central Illinois. Born and raised and
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  Speaker 1: worked on a soybean farm. One of the places I
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  Speaker 1: was a producer was Indicator, Illinois.
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  Speaker 3: Well tell me you were there too.
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  Speaker 1: I was there Indicator that was a WA and D
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  Speaker 1: Indicator Illinois. I was a producer there as well, so
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  Speaker 1: I know that region very very well. So let's talk
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  Speaker 1: about another small business in America that's under the gun, farming,
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  Speaker 1: and you know they're definitely there's been some serious ups
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  Speaker 1: and downs there. Does the SBA have I mean, or
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  Speaker 1: is this just something that they department overseas? Is the
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  Speaker 1: SBA have any interaction with some of these farming businesses.
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  Speaker 2: We absolutely do. And I'm so glad you're bringing up
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  Speaker 2: America's original small business. I mean, most of America used
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  Speaker 2: to be a grarian. Eighty five percent had their jobs
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  Speaker 2: in farming or in farm communities. And look, I grew
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  Speaker 2: up on a five generation family farm. My nephew's twenty seven.
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  Speaker 2: He's still farming. But you rarely meet a twenty seven
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  Speaker 2: year old farmer. And look, they've been hit in every way.
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  Speaker 2: You've got a regulation that came out of the Green
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  Speaker 2: New Deal that was very tough. That's a big area
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  Speaker 2: in which the SBA can advocate is to fight for
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  Speaker 2: farming and ensure that they're not squished by the big
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  Speaker 2: bureaucratic state that threatens to put them out of business
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  Speaker 2: through crazy environmental regulations that don't have any environmental benefit
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  Speaker 2: but have enormous costs shouldered by our smallest businesses. And
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  Speaker 2: by the way, food security is national security. Three years
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  Speaker 2: ago America shockingly became a net importer of food. It's
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  Speaker 2: their time in our history that we relied on external food.
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  Speaker 2: So we've got to get those high burdensome costs, those
• 10:05
  Speaker 2: diesel exhaust fluid rules out of the way of work
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  Speaker 2: closely with EPA Administrator Zelden and Secretary Rawlins at USDA
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  Speaker 2: to do that, to fight for right to repair for
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  Speaker 2: farmers and truckers that shouldn't have to pay high maintenance
• 10:19
  Speaker 2: costs on their equipment. So we're always advocating. And then
• 10:22
  Speaker 2: of course we have put seven billion in lending out
• 10:24
  Speaker 2: into rural communities because that it again relates back to
• 10:29
  Speaker 2: our infrastructure.
• 10:31
  Speaker 1: You know, you just gave a great argument for the
• 10:33
  Speaker 1: electoral College. Judget when we're going to talk about this
• 10:35
  Speaker 1: all the time. It was because our founding fathers knew
• 10:38
  Speaker 1: that these farmers and these leslie, you know, small populated
• 10:42
  Speaker 1: areas needed to have an equal standing or at least
• 10:45
  Speaker 1: a fair say. And you know, if we just if
• 10:48
  Speaker 1: we continue to push for these these large cities deciding
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  Speaker 1: how we do We're gonna go We're gonna starve, aren't we.
• 10:54
  Speaker 2: Well, either that or we're going to become dependent on
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  Speaker 2: our adversaries for food, which is not a good place
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  Speaker 2: to be in. And you see that around the world.
• 11:01
  Speaker 2: These are the third world countries that we, you know,
• 11:05
  Speaker 2: do not ever want to even closely resemble, even though
• 11:08
  Speaker 2: some of our elections.
• 11:09
  Speaker 1: Look that way.
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  Speaker 2: But you know, I think the big focus for us
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  Speaker 2: has really been on how do we help these rural
• 11:16
  Speaker 2: communities thrive because they really represent what this country is about,
• 11:20
  Speaker 2: that independence, that personal responsibility, free enterprise. Because look, when
• 11:27
  Speaker 2: you're a farmer, you're a meteorologist, you're a mechanic, you're
• 11:30
  Speaker 2: an accountant, you're all things rolled into one person, and
• 11:34
  Speaker 2: you're driving a small business, often with two or three
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  Speaker 2: employees maybe, and you're you. You live off the land.
• 11:41
  Speaker 2: No one's providing you days off or insurance plans. You're
• 11:44
  Speaker 2: providing for yourself. And that's a tough business.
• 11:47
  Speaker 4: Judge, Well, senator, it's good to see you again.
• 11:50
  Speaker 2: Thank you, Judge.
• 11:51
  Speaker 4: The fact of the matter is that the values of
• 11:55
  Speaker 4: this country come from rural America founding fathers work from
• 12:00
  Speaker 4: rural America. The trend today is that big cities are
• 12:03
  Speaker 4: dominating the collectivism of the left. With Mandami, the mayor
• 12:10
  Speaker 4: here calls warmth of collectivism. It's totally contrary to the
• 12:13
  Speaker 4: American individual spirit and how we all work together. But
• 12:17
  Speaker 4: we're not collectivists. And this attempt to abandon destroy the
• 12:21
  Speaker 4: electoral college means that we'll be governed by the extremes
• 12:25
  Speaker 4: of the coasts rather than the American values.
• 12:28
  Speaker 2: Well, that's right, and it consolidates power into the hands
• 12:30
  Speaker 2: of a very, very few people who are calling the
• 12:34
  Speaker 2: shots for the whole country. And what's amazing about our
• 12:36
  Speaker 2: constitutional republic is that you know, each state, you know,
• 12:40
  Speaker 2: it's fifty laboratories of democracy sorting out what works best
• 12:44
  Speaker 2: and people are voting with their feet. And the collectivism
• 12:48
  Speaker 2: would remove all that, you know, as they want to
• 12:50
  Speaker 2: remove the electoral college, pack the court, remove the ability
• 12:55
  Speaker 2: of that independence of individual thought or states, and it
• 13:00
  Speaker 2: goes on and on. So it's it's very threatening. We
• 13:02
  Speaker 2: should take this very very seriously. It's just troubling to
• 13:06
  Speaker 2: see this happening in New York City, which really you know,
• 13:09
  Speaker 2: two point nine million small businesses and to have leadership
• 13:13
  Speaker 2: talking about taking over their businesses is alarming.
• 13:17
  Speaker 1: Kelly lin Loffler, the administrator of the Small Business Administration,
• 13:21
  Speaker 1: thank you so much for joining us. And by the way,
• 13:24
  Speaker 1: I think this is the first time a Manhattan based
• 13:26
  Speaker 1: media program mentioned the Chevy Silverado in the Ford f
• 13:30
  Speaker 1: one fifty in our studios here.
• 13:32
  Speaker 2: We got I should do it more.
• 13:33
  Speaker 1: Yeah, you should believe me one of my big pet
• 13:35
  Speaker 1: peeves and all.
• 13:35
  Speaker 3: These es, Jake, could I get one more question in sure? Kelly.
• 13:40
  Speaker 3: By the way, you're so elegant, You're a beautiful lady.
• 13:43
  Speaker 3: I would like to ask you.
• 13:46
  Speaker 1: Breaking up our boys club in here. The women's club
• 13:49
  Speaker 1: is over there.
• 13:50
  Speaker 3: I would like to ask and invite you to Fernando
• 13:54
  Speaker 3: Matales No Excuses program because I speak to the small
• 13:58
  Speaker 3: business community or in New York and we are from
• 14:01
  Speaker 3: six to seven every Sunday, and I would like for
• 14:04
  Speaker 3: you to speak to our to my constituents, which is
• 14:09
  Speaker 3: the bodega owners, the cab drivers, the small business you know,
• 14:13
  Speaker 3: mom and pop shops in New York, because they need
• 14:16
  Speaker 3: to take advantage of what you're offering. A lot of
• 14:18
  Speaker 3: them don't understand what the SBA is about, and usually
• 14:23
  Speaker 3: they go to their bank for loans, and the banks
• 14:25
  Speaker 3: deny them and they don't know where to go.
• 14:27
  Speaker 2: Fernanda would be a great honor to join your show,
• 14:30
  Speaker 2: and I think at this time to be able to
• 14:32
  Speaker 2: support independent business owners, it's absolutely critical that we do that,
• 14:36
  Speaker 2: particularly here in New York City. So you have an
• 14:38
  Speaker 2: invitation and you ex think you my friend. Okay, you
• 14:41
  Speaker 2: heard it at six pm.
• 14:43
  Speaker 1: By the way, so don't worry.
• 14:46
  Speaker 4: As opposed to let the record show from six am.
• 14:50
  Speaker 4: Let the record show.
• 14:51
  Speaker 3: You know at six six pm.
• 14:53
  Speaker 1: Don't confuse them two different yess.
• 14:55
  Speaker 4: And the cats have caused me to sign a five
• 14:58
  Speaker 4: for six weeks every day.
• 15:00
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• 15:03
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• 15:06
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• 15:09
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• 15:30
  Speaker 4: Is going on here.