The current Continuing Resolution (CR) extends government spending levels through Friday, November 17, 2023. In the event of a government shutdown due to a lapse in funding after 11:59 PM ET on the 17th, SBA 7(a) Secondary Market sale and pool formation processes will operate under the following parameters: Source: SBA

RANK Lender # Loans $ Amount Average Loan Size 1 Live Oak Banking Company (NC) 7 $7,160,000 $1,022,857 2 Central Pacific Bank (HI) 91 $7,070,000 $77,692 3 Newtek Small Business Finance, Inc. (NY) 8 $6,005,000 $750,625 4 Byline Bank (IL) 3 $4,281,000 $1,427,000 5 Commonwealth Business Bank (CA) 1 $3,731,000 $3,731,000 6 PCB Bank (CA)…

RANK Lender # Loans $ Amount Average Loan Size 1 Lincoln Savings Bank (IA) 25 $9,044,100 $361,764 2 Newtek Small Business Finance, Inc. (NY) 8 $6,985,000 $873,125 3 Celtic Bank Corporation (UT) 4 $4,728,000 $1,182,000 4 First Interstate Bank (MT) 4 $4,025,200 $1,006,300 5 TD Bank, National Association (DE) 1 $4,000,000 $4,000,000 6 Live Oak…

CFPB analyazes state CRA similar laws to “ensure financial institutions’ lending, services, and investment activities meet the credit needs of their communities.” The report examines the laws of seven states (Connecticut, Illinois, Massachusetts, New York, Rhode Island, Washington, West Virginia) and the District of Columbia, and found that many of those states adopted laws similar…

Ray Drew Interviews Bob Coleman November 2, 2023 on his Art of SBA Lending YouTube Channel.

“Kraig is one of the giants in our industry, especially when it comes to serving EB-5 investors,” says John Shen, president and CEO of American Lending Center (ALC). “He has great experience in all components of the process, from the individual investor to the developers putting their money to work. We’re thrilled and blessed to…

1 Live Oak Banking Company (NC) 40 $60,862,000 $1,521,550 2 Metro City Bank (GA) 29 $57,421,000 $1,980,034 3 First IC Bank (GA) 20 $38,871,000 $1,943,550 4 CapStar Bank (TN) 24 $34,330,300 $1,430,429 5 Georgia’s Own Credit Union (GA) 40 $32,952,400 $823,810 6 Colony Bank (GA) 29 $30,042,300 $1,035,941 7 Signature Bank of Georgia (GA) 24…

Expanding the number of SBLC licenses to 17, SBA has chosen the three with mission-driven underserved market niches — Native American, Rural and Low-Income communities. (A Small Business Lending Company License allows a non-depository lender to fund SBA 7(a) loans nationwide.) McKinley Alaska Growth Capital, is an Alaska-based BIDCO and Native CDFI that has provided…