MSP Business Journal: As SBA overhauls its marquee loan program, some banks are optimistic. Others see a 'mixed bag.'
10 Apr 2024
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The SBA is making several changes to a major loan program aimed at encouraging more banks to lend. Here's what it means for businesses, and why some bankers are optimistic.
Mike McGinley is optimistic a raft of recent changes made by the Small Business Administration to its flagship 7(a) program will boost the number of loans going to small businesses.
“A lot of lenders will lean into smaller loans now that you can do it more efficiently,” said McGinley in an interview with The Playbook. "It’s a very attractive time to apply for an SBA loan.”
Click here to read the full article from the MSP Business Journal.
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