Small Business Administration Administrator Isabella Casillas Guzman told bankers today at the American Bankers Association’s Washington Summit that to help small businesses, the country needs to return to work.
The American Bankers Association and a coalition of trade groups today urged congressional leaders to increase the authorization level for the Small Business Administration’s 504 loan program. Demand is expected to reach the program’s authorization cap of $7.5 billion in early summer, likely June.
Ultimately, bankers must meet businesses where they want to bank—whether it’s in-person, desktop or mobile—and deliver the same experience across all channels.
Three GOP lawmakers today raised concerns about the CFPB’s pending rulemaking to implement Section 1071 of the Dodd-Frank Act.
In a study evaluating small businesses’ satisfaction with merchant services providers, J.D. Power found that large banks had a significant surge in merchant services satisfaction.
The Small Business Administration announced that it will allow Paycheck Protection Program borrowers to request a loan review by SBA when the lender determines that the borrower is entitled to only partial forgiveness of the PPP loan.
While expressing support for fair lending laws and regulations, ABA and the state bankers associations yesterday raised concerns about the CFPB’s long-awaited proposed rule to implement Section 1071 of the Dodd-Frank Act, which concerns the collection of credit application data for small businesses, including women-owned and minority-owned small businesses.
Eighty-three percent of small businesses say they sought financial services from either large or small banks, according to new research published by the Securities and Exchange Commission’s Office of the Advocate for Small Business Capital Formation last week.
Small business credit card customer satisfaction surged 12 points from last year (rising to 852 on a 1,000-point scale) as 32% of small business customers say they are financially better off than they were a year ago, according to a new survey by J.D. Power.
A majority of ag lenders—69.7%—reported that overall farm profitability increased in the prior year, due in large part to government support, which is estimated to account for 38% of ag borrowers’ net income, according to the 2021 Agricultural Lenders Survey conducted by ABA and Farmer Mac.