SBA

Lax board oversight, reckless growth led to Kansas bank's failure: Report

03/26/21

A federal watchdog agency determined that Almena State Bank's push into government-backed loans, supported with high-cost wholesale funding, set it up for collapse when significant credit issues arose.

]]

[more]

Why this banker no longer views SBA as 'lender of last resort'

03/17/21

First Internet CEO David Becker used to be dismissive of the Small Business Administration. But after getting to know some of the borrowers during the pandemic — and after his bank collected hefty fees from selling 7(a) loans — he's become a convert.

]]

[more]

Bill to extend PPP clears House

03/17/21

By an overwhelming majority, the House approved a two-month extension of the Paycheck Protection Program, which still has almost $93 billion left to distribute.

]]

[more]

House bill would push PPP deadline to May 31

03/11/21

The legislation would extend the Paycheck Protection Program for two months and give the Small Business Administration more time to remedy persistent system glitches that have delayed the processing of thousands of loan applications.

[more]

House members receptive to extending PPP deadline

03/10/21

Legislators expressed concerns that thousands of pending applications are stuck in limbo just weeks before the Small Business Administration is legally required to stop accepting them.

[more]

Fed will continue supporting PPP loans until June 30

03/08/21

Nonbanks had worried the end of the Paycheck Protection Program Liquidity Facility would hurt their ability to lend to small businesses. On Monday, the Federal Reserve announced the facility would be extended for three months.

[more]

Bottlenecks at SBA holding up loan approvals

03/01/21

Turnaround times on loans in the 504 program are stretching out for weeks as the Small Business Administration grapples with a spike in applications and responsibilities tied to the Paycheck Protection Program.

[more]

Biden plan to help smallest PPP applicants has downsides, banks warn

02/22/21

It would ignore technical glitches plaguing the entire Paycheck Protection Program and could end up delaying loans to larger borrowers who also need relief, bank executives and their trade groups say.

[more]

PPP boosts banks' interest in other SBA loan programs

02/12/21

Banks have diverted resources from traditional Small Business Administration lending to make Paycheck Protection Program loans, but many are taking steps to rev up 7(a) and 504 lending once the PPP winds down.

[more]