In the changes to the Community Advantage program that took effect in May 2022, for example, SBA cited its objective to “encourage increased lending in historically underserved markets.” In its final rule, effective August 2022, on regulatory reform in lending programs, SBA said it expected the changes to “encourage Lenders to make loans that they would not otherwise make, thereby increasing the availability to small businesses of needed credit.” In its November proposed rule to lift the Small Business Lending Company (SBLC) moratorium, SBA cited its “goal of expanding capital opportunities for underserved businesses.” Background This explainer looks at two final rules and two proposed rules that make changes to SBA’s business loan programs.Ī common thread runs through these rules: SBA’s desire to expand access to capital for communities and demographic groups that, by many measures, have been historically underserved when it comes to small business credit. Taken together, these effective and proposed rules have the potential to significantly change a small but vital part of the small business financing market: government-guaranteed lending. Additionally, the agency proposed changes to the Small Business Investment Company (SBIC) program, which incentivizes equity investments in small businesses. SBA also finalized and implemented two regulatory rules and proposed two additional rules pertaining to its lending support programs. In addition to its “normal” operations, the agency was still winding down pandemic-era relief programs. Give Search Keywords Submit Policy Areasīy any standard, the Small Business Administration (SBA) was busy last year.
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