SBA

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.

The Boca Raton, Florida company is seeking to attract deposits with a product that more closely resembles the strategy many fintechs typically employ.

The Columbus, Ohio-based regional launched Lift Local Business in October 2020 with a $25 million ceiling. Four years and $133 million later, the program is still going strong.

The average size of a Small Business Administration 7(a) loan has fallen to just over $400,000, a level last reached in 2017, according to agency statistics.

The Wilmington, North Carolina, company reported a breakout quarter for loan production, but profits fell as an increase in nonperforming loans led to higher provisioning.

While companies trust banks and typically maintain their core relationship with small businesses, the industry's dominant position is hardly set in stone, according to a survey by American Banker.

Despite strong growth and solid profits, the Miami-based lender, formerly a business development company, still hasn't convinced the market it fits in as a bank.