December 12, 2016
By Bob Coleman
Editor, Main Street Monday
Main Street Monday — Linda McMahon will be a Strong Advocate for Main Street
Thank you to the 119 who answered our survey. Of course the results are unscientific, but your comments reflect a strong passion about SBA and the positive role the agency plays for Main Street.
The industry is divided on whether Linda McMahon is the right choice for Administrator, but a solid majority believe she will be an effective voice for Main Street.
Here are the results of the survey:
Do you believe Linda McMahon will be a strong advocate for Main Street?
Yes — 53%
No — 40%
No Opinion — 7%
Do you approve of Linda McMahon’s Nomination as SBA Administrator
Yes — 45%
No — 44%
No Opinion — 11%
Your answers to what Linda McMahon’s number one priority should be:
1) Focus on SBA, streamlining and reducing SBA loan program rules and regulations — 35%
2) Focus on the small business owner/reduce their regulations — 26%
3) Focus on access to capital issues, including increasing SBA 7(a) and 504 loan limits and funding levels — 22%
4) Reverse the loan program name changes — 10%
5) Focus on small business job creation — 5%
6) Other — 2%
Following are some of your comments:
What should be the #1 priority of the new Administrator?
Returning SBA to their mission namely, job creation.
She should find out why 5,000 Community Banks have given up on SBA lending.
Calming Congressional fears about program oversight and ensuring adequate funding of the program.
Bring excitement to SBA.
Listening to Small Business Owners to learn what they expect from SBA.
New Job Growth. clearing the way for lenders to help small town America.
Balance the cost of lender oversight and credit risk management evenly across all lenders on a pro-rata basis. Stop giving the largest banks in the country a free ride.
True understanding of where the middle class resides and the struggles they have as small business. Continuing the ease of small businesses to reach out to lenders. For the population to understand what resources are available.
The SBA has come a long way over the past 20 years and is more effective and serves more small business owners than ever. If Mrs. McMahon could oversee the agency in a manner that keeps it intact, I would consider her tenure to be a success.
Tomorrow: What specific SBA loan program changes would you like to see?