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A push is on in Congress to reinstate a program that allowed small businesses to refinance commercial mortgages using government-backed funds.
March 20 -
Big banks grab headlines with large commitments to small businesses but, when compared total assets, many community banks are setting the pace.
June 7 -
The Small Business Administration is making more money available for programs that encourage investment in early-stage companies and low-income communities.
June 6 -
Karen Mills, the outgoing head of the Small Business Administration, gets high marks from bankers for cutting red tape, revamping little-used programs, improving outreach, and, most important, convincing lawmakers to raise caps so that banks could make larger loans.
June 1
The chief executive of Summit Bank of Eugene, Ore., will step down to lead the U.S. Small Business Administration's loan programs.
Ann Mehlum will serve as associate administrator of the SBA Office of Capital Access, the $142 million-asset bank announced Tuesday. Craig Wanichek, Summit's president, will become CEO when Mehlum steps down on Aug. 5.
In her new role at the SBA, Mehlum will oversee more than $100 billion in lending to entrepreneurs and business owners. She will report to SBA chief Karen Mills.
"I hope to see more capital invested in more small businesses, which will create more jobs and careers," Mehlum said in a press release. "I have absolute confidence in [Wanichek's] ability to move Summit forward safely and successfully."
Mehlum will succeed Jeanne Hulit at the SBA. Hulit, a former banker at Citizens Bank and KeyCorp's KeyBank, has been with the agency since 2009. Representatives for the agency were not immediately available to discuss Hulit's plans.
Karen Mills also
