May 31, 2016
By. Bob Coleman
Editor, SBA Hot Topic Tuesday
SBA Hot Topic Tuesday — 73% of Industry Says Replace SBA 7(a) Premium Split with Portfolio Fee
Through 12 p.m. EST today, 119 people have responded to our Friday survey canvassing the industry about its support and thoughts of the pending Small Business Lending Oversight Act of 2016.
The overwhelming consensus of survey takers (73% to 27%) favors a loan portfolio tax, rather than secondary market premium splits.
Most agree (60% to 40%) lenders with a small portfolio should not pay the fee. And, 57% say the larger lenders should not have to shoulder the fee increase.
The takeaway? There are a lot of angry bankers out there. 84% don’t support the legislation.
Most feel the proposed legislation favors the too big to fail banks at the expense of community banks and SBLCs.
I’ll publish all of the comments tomorrow — trigger warning, even the unvarnished ones!
Note the poll will remain open until noon Eastern tomorrow if you wish to add your voice. Note, I won’t publish your name unless you give me written permission.
Here are the unscientific results: