SBA limits business loans to small lenders

📆 30/4/2563 4:56:00
📰 politico

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The SBA told banks that for the rest of the day, starting at 4 p.m., its systems would accept only so-called Paycheck Protection Program loan applications from lenders with less than $1 billion in assets, representing the smallest in the industry

The Small Business Administration on Wednesday said it would temporarily restrict incoming applications for emergency small business loans to only those submitted by the country's tiniest lenders, an unprecedented move by the agency as it triaged hundreds of thousands of incoming requests for aid.

The announcement was the Trump administration's latest sudden shift in the program, which Congress created to help minimize layoffs during the pandemic. The change came as organizations representing thousands of large and small lenders nationwide urged the SBA to shore up its system for processing emergency small business loans or explain why it can't be done.

เขียนความคิดเห็น

A billion..? You got to be kidding right.

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