News Topic: SBA

The Columbus, Ohio, bank has hired a former executive from Bank of America to run the new business, which will target physician, dentist and veterinary practices. ... Read full article

First Internet is poised to acquire an SBA lending team to help it meet an ambitious loan target for the year — a target the CEO plans on doubling in coming years. ... Read full article

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. ... Read full article

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

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

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. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

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

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. ... Read full article

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

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

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. ... Read full article

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. ... Read full article

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

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. ... Read full article

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