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Some lenders to companies owned by women, minorities and veterans say they'd prefer that the Small Business Administration strengthen its Community Advantage program rather than bring them into the agency's flagship loan-guarantee program.
December 22 -
The Small Business Administration must be prepared to effectively oversee any new lenders it allows in its flagship 7(a) loan guarantee program to guard against fraud and other risks, Democrats and Republicans on the Senate Small Business Committee warned.
December 14 -
Citing a congressional report, SBA says it will investigate PPP operations at several fintechs, community banks and other participants. The review raises questions about plans to open up the agency's flagship loan-guarantee program to more nonbanks.
December 8 -
A proposed rule would end a 40-year moratorium on participation in the Small Business Administration's flagship 7(a) program by nondepository lenders. However, staffing constraints would limit the number of new licenses to just three at the start.
November 8 -
Already the nation's largest Small Business Administration lender by dollar volume, the Wilmington-based bank plans to add more than 200 employees and spend $25 million on a new building.
September 16 -
South End Capital, a division of Stearns Bank in Minnesota, is touting a nationwide Small Business Administration small-dollar loan product that can provide funding within days, perhaps hours. It's one of several recent small-dollar SBA lending initiatives now being offered by banks.
September 9 -
BayFirst Financial in Florida is using gross — not net — income to calculate how much credit smaller enterprises can be granted. Company officials say the Paycheck Protection Program used that approach with great success, but others contend the practice is risky for private-sector lenders.
August 3 -
Flush with capital and touting its biggest loan pipeline ever, the nation’s No. 1 Small Business Administration 7(a) lender is laying plans to hire dozens of bankers away from competitors. It’s one of several companies seeking to expand at a time when others are likely to pull back on commercial lending.
July 29 -
Government has an exciting opening to use its unprecedented reach and newfound trust among small-business owners to connect entrepreneurs with sources of capital that can help them grow.
May 20Public Private Strategies -
For anyone who wants a phony pay stub or doctored tax return, an easy source is just a click away.
April 6