Episode 230: SBA Update

This episode provides an update on the Small Business Administration (SBA) and the programs it offers. The SBA has rolled out a new 7(a) Working Capital Pilot Program, which is a line of credit up to $5 million. The SBA is seeking out new lenders to work with in an attempt to expand access to their various loan programs. Finally, borrowers that utilized the SBA EIDL loan program continue to struggle with their debt loads.  

Link: The SBA’s New Working Capital Pilot Program Launches Today (pcbb.com)

Link: SBA to issue more Small Business Lending Co. licenses - The Business Journals (bizjournals.com)

Link: Small businesses that took SBA Covid-19 EIDL loans are struggling - The Business Journals (bizjournals.com)

Link: From Short-Term Relief to Long-Term Hardship: Some Small Businesses Struggle with Debt Burdens from COVID-19 Economic Injury Disaster Loans (fedsmallbusiness.org)