SBA

The Seattle-based company, which had made home loans for more than a century, announced it was quitting the mortgage business in January. It booked nearly 400 small business loans in the first quarter and expects that total to grow as its team gains traction.

The federal Small Business Investment Company program has seen a spike in interest since a new rule incentivizing support for early stage companies took effect in 2023. Now there is growing political support for ways to further bolster the program.

The midyear fee hike was necessary to reverse a revenue shortfall in the agency's 7(a) program, according to Administrator Kelly Loeffler.

The Trump administration's plans for student loans could open the door for banks to grab market share as borrowers seek alternatives.

The Trump administration wants the Small Business Administration to shrink its workforce by 43%. At the same time, the agency is being asked to start managing the federal government's student loan portfolio.

Independence Bank can cease operations once it satisfies the conditions in an FDIC consent order. Liquidation would close out a five-year drama that began when regulators cited the bank for SBA lending irregularities.

Changes are needed to shore up the agency's finances and guarantee the integrity of its flagship 7(a) lending program, according to a leading trade group.

Community Bankshares has launched a unit that is originating Small Business Administration 7(a) loans for itself and aims to service them for other small lenders around the country.

The former Georgia senator and entrepreneur, who promised to combat red tape and fraud in her confirmation hearing, takes office following a 52-45 vote.

Trump's Small Business Administration told probationary staff members it had mistakenly sent them termination notices, then informed some of them the next day they were fired after all.