SBA

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.

The New Canaan, Connecticut-based company agreed to allow Larry Seidman, who sits on its board, buy an additional 5% of its shares. Seidman currently owns about 9.5% of Bankwell.

On her way out the door, SBA Administrator Isabel Casillas Guzman issues licenses to four more nondepository lenders.

With default levels drifting higher, some program participants are calling on the incoming Trump team to rethink the Small Business Administration's approach to underwriting.

Kelly Loeffer would lead an agency that is critically important to community banks, which make tens of billions of dollars in loans annually under its largest loan program.