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The average size of a Small Business Administration 7(a) loan has fallen to just over $400,000, a level last reached in 2017, according to agency statistics.
October 29 -
Asset manager-led transactions targeting asset-based finance (ABF) gained momentum following the regional banking crisis, which are typically the go-to for consumer and small business loans.
August 19 -
The Consumer Financial Protection Bureau extended the deadline for lenders with the highest volume of small-business loans to July 18, 2025, and will not assess penalties for reporting errors for a year.
June 25 -
Bank stocks are up this year as interest rates have leveled off and there are hopes that pressure on lenders' profits could moderate.
May 8 -
The banking giant has launched an online platform that links small-business owners and entrepreneurs in need of capital to community development financial institutions. The platform was developed in partnership with Community Reinvestment Fund USA.
March 27 -
The top three industries includes software, healthcare and software development, accounting for 18.45%, 7.89% and 5.12%, respectively.
March 22 -
Two tranches of class A and B notes will raise $80 million from investors, to support Kalamata's business financing small business loans and merchant cash advances.
March 21 -
Since the end of the Small Business Administration's 2022 fiscal year, the average loan size in its flagship program has dropped more than six figures. The addition of three new nondepository lenders could further drive down this figure.
November 13 -
The deal has a prefunding account with $12 million deposited at closing, and will use that amount to purchase additional collateral during its 90-day period after the deal closes.
October 17 -
With a week left in its 2023 fiscal year, the Small Business Administration has already approved 12% more 7(a) loans than last year. Larger banks were among the biggest gainers as a result, according to the agency's latest data.
September 24