SBA

The agency wants to increase the maximum SBA Express loan to $1 million from $350,000 to pump up volume.

The Small Business Administration should consider partnering with fintechs, which have the capacity to approve loans quickly, to help avoid the kind of application backlog the agency faced after the last government shutdown.

The Small Business Administration should consider partnering with fintechs, which have the capacity to approve loans quickly, to help avoid the kind of application backlog the agency faced after the last government shutdown.

The agency's update is good news for banks digesting data suggesting that nonbanks cut into their share of small-business loans during the partial government shutdown.

If the government insists on forcing another shutdown, business owners are intent on letting Congress know how much the last one hurt.

Lenders are glad the agency worked swiftly through a backlog of paperwork, but they're worried funds will get cut off if the government closes again.

With SBA lending at a standstill, many small businesses can't access the capital they need to create and retain jobs, Stephen Steinour says.

Industry groups and lawmakers have joined bankers in insisting the agency develop a plan to resolve the paperwork problem before the partial government shutdown ends.

The shutdown is keeping the agency from approving about 300 loans per day, according to CBA President Richard Hunt.

Many federal agencies have been closed for more than three weeks, making it the longest shutdown in U.S. history. With no end in sight, here's how it's affecting banks, credit unions and mortgage lenders.