The Small Business Administration says a spending bill passed last week by the House would endanger its loan guarantee programs.

According to the SBA, cuts to the agency's administrative budget would force it to fire 75% of its 3,100 employees, prohibit prudent monitoring of its loan portfolios, and prevent it from guaranteeing new loans by any but the largest banks.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.