Fri 5 Feb 2010
Proposed changes to small business (SBA) lending programs
Posted by Kenny Leonard under Banking, Small Business
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Kenny Leonard
Earlier today President Obama made a statement about changes he would like to see to the U.S. Small Business Administration’s (SBA) lending programs. He also reiterated changes he has already asked congress to make law. Read the full statement here: http://www.whitehouse.gov/briefing-room/statements-and-releases.
While we are encouraged by the President’s announcement we understand that this is just a proposal. Congressional leaders still need to take action on the matter. There are several bills floating through various committees but nothing has surfaced as of yet for a full vote.
In the meantime we are committed to utilizing the existing parameters of the SBA loan programs to make sound loans to our local community businesses.
Tell us what you think of these proposed changes.
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