Washington DC

Industry group urges reopening of SBA, citing impact of shutdown


The shutdown is keeping the agency from approving about 300 loans per day, according to CBA President Richard Hunt.


Bad for business? Weighing shutdown’s impact on commercial loans


Credit union and bank executives say the federal work stoppage hasn’t hit business lines yet, but that could change if things drag on much longer.


Agriculture Department reopens briefly to assist farmers hurt by shutdown


Farm Services Agency staff will have three days to work on existing loan applications and provide tax documents for existing loans.


Washington de novo receives conditional FDIC approval


Though it wil be based in the nation's capital, MOXY Bank will also have significant operations in Charlotte, N.C.


Shutdown has farmers and their lenders sweating


The impasse has halted grant and loan applications and frozen many farm subsidies just weeks ahead of planting season.


Alternative lenders try to fill void left by shutdown


The tricky part: raising awareness without appearing to take advantage of borrowers at a time when agencies like the SBA are out of commission.


ICBA selects first fintechs for new accelerator program


The 10 startups will receive initial investments, mentoring and training as part of the ICBA ThinkTECH Accelerator.


Government shutdown grinds SBA lending to halt


The agency is unable to process loan applications and faces a daunting backlog once Washington returns to work.


ICBA to create online directory of fintech firms


The directory, which will debut next year, should help community banks find potential fintech partners.


Lawmakers join opposition to SBA poultry lending plan


Dozens of House members and four senators agree with arguments by farmers and lenders that a proposed change to the 7(a) program would disqualify worthy borrowers.