The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, will reopen the Paycheck Protection Program (PPP) loan portal to PPP-eligible lenders with $1 billion or fewer in assets on Jan. 15. The portal will fully open on Jan. 19 to all participating PPP lenders.
TD Bank ranked No. 1 in total number of approved U.S. Small Business Administration loan units in its Maine-to-Florida footprint for the SBA’s 2020 fiscal year, supporting more than 1,500 businesses through two SBA lending products: 7(a) and 504 loans.
The U.S. Small Business Administration issued a “green light” letter inviting Capital Southwest to file its application to obtain a license to operate a small business investment company (SBIC) subsidiary.
Although the U.S. Small Business Administration was closed for most of January because of the government shutdown, the percentage of SBA loan approvals dropped by just one percent in January at regional and community banks, according to Biz2Credit Small Business Lending Index.
M&T Bank has grown to become America’s fifth-largest issuer of U.S. Small Business Administration 7(a) loans, based on recently released SBA data.
The economic environment is turning around for America’s small businesses despite some lingering challenges from the recession, according to a new report by the U.S. Small Business Administration (SBA) Office of Advocacy.