Texas Court Pauses CFPB Small Business Data Collection Rule

Implementation of the CFPB Small Business Lending Rule has been stopped by a Texas Federal District Court. The CFPB wants lenders to collect data about small business loan applicants and borrowers similar to consumer mortgage loans — specifically race and geographic area. To ensure lenders are not engaging in discriminating lending practices. Reports National Law…

Read More

Connecticut SBA 7(a) Lender Ranking for FY 2023

RANK Lender # Loans $ Amount Average Loan Size 1 Webster Bank National Association (CT) 117 $45,010,800 $384,708 2 Live Oak Banking Company (NC) 17 $32,047,000 $1,885,118 3 Celtic Bank Corporation (UT) 14 $19,260,000 $1,375,714 4 Manufacturers and Traders Trust Company (NY) 126 $18,114,000 $143,762 5 Berkshire Bank (MA) 13 $14,531,000 $1,117,769 6 TD Bank,…

Read More

Colorado SBA 7(a) Lenders Ranking for FY 2023

RANK Lender # Loans $ Amount Average Loan Size 1 Live Oak Banking Company (NC) 58 $93,750,500 $1,616,388 2 The Huntington National Bank (OH) 227 $54,302,600 $239,219 3 Hanmi Bank (CA) 37 $33,107,000 $894,784 4 CrossFirst Bank (KS) 29 $33,006,500 $1,138,155 5 Midwest Regional Bank (MO) 15 $32,386,000 $2,159,067 6 Wells Fargo Bank, National Association…

Read More

United Community Bank Ranks as a Top 25 SBA 7(a) Lender in FY23

With more than $177 million in loans for fiscal year 2023, South Carolina headquartered United Community is one of SBA’s largest lenders. “Small companies generate 1.5 million jobs a year and account for nearly 65% of new jobs in America,” says Rich Bradshaw, President and Chief Banking Officer for United. “Entrepreneurs are vital to our…

Read More

Maryland SSBCI Funds 27 Businesses – 1,300 Jobs in FY23 

Maryland’s SSBCI has committed more than $33 million to 27 applicants operating in historically underserved communities. Launched in August 2022, SSBCI created a partnership between three state agencies to administer up to $198 million in federal relief to small businesses.  The state’s SSBCI investment has leveraged an additional $190 million in  private capital.. “I’m grateful…

Read More

Arizona SBA 7(a) Lenders Ranking for FY 2023

RANK Lender # Loans $ Amount Average Loan Size 1 Live Oak Banking Company (NC) 41 $74,710,000 $1,822,195 2 Celtic Bank Corporation (UT) 32 $32,604,400 $1,018,888 3 St. Louis Bank (MO) 14 $26,154,000 $1,868,143 4 MidFirst Bank (OK) 22 $25,129,800 $1,142,264 5 Bell Bank (ND) 29 $24,468,600 $843,745 6 The Huntington National Bank (OH) 75…

Read More

Arkansas SBA 7(a) Lender Ranking for FY 2023

RANK Lender # Loans $ Amount Average Loan Size 1 First Financial Bank (AR) 27 $35,579,800 $1,317,770 2 First Service Bank (AR) 21 $18,685,800 $889,800 3 Live Oak Banking Company (NC) 6 $13,790,800 $2,298,467 4 Arvest Bank (AR) 43 $12,216,000 $284,093 5 Arkansas Capital Corporation (AR) 25 $11,870,700 $474,828 6 Readycap Lending, LLC (NJ) 5…

Read More

SBA Grants 143 Community Advantage Lenders SBLC License

What is the Community Advantage Loan Program? Maximum Loan is $350,000 Guaranty — 85% for loans up to $150,000, 75% for loans greater than $150,000, and 90% for International Trade loans Who can be a CA lender? The following types of organizations are eligible to become CA lenders: Lender portfolio requirements Lenders in the CA…

Read More