SBA

While Noah Bank’s CEO has been accused of self-dealing in connection with SBA loans, its chairman says the directors had a succession plan ready to go and are rallying to rescue the bank’s reputation.

First Internet will gain lenders and servicing staff, along with offices in Chicago and Indianapolis, from the deal.

The forces reshaping small-business lending are also leading to “a moment of reckoning” for small banks, says former SBA head Karen Mills.

The deals lets a North Carolina group skip the de novo process. West Town, which sold the bank, will use the funds to support a fast-growing business line.

Lawmakers from both parties oppose a Small Business Administration proposal to raise guarantee fees. The clash could lead to a halt in operations this fall.

The National Credit Union Administration and the Small Business Administration have established a program to boost SBA lending by credit unions, which was very light last year. It is sure to irk bankers, who have raised competitive concerns.

The chairwoman of the House Small Business Committee promised to block action on the agency's budget unless it can justify its fee-hike request.

Lenders argue that the move is premature, citing record-low charge-offs in the agency's 7(a) program.

Linda McMahon is planning to step down from leading the Small Business Administration to help raise money for President Donald Trump’s re-election campaign, according to people familiar with the matter.

The Connecticut bank, which has been unable to complete a pending deal for an SBA platform, has managed to build the business anyway.

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.