Main Street Monday — 63% Say Trump Administration Good for SBA
By Bob Coleman
Editor, Main Street Monday
In our unscientific survey.
207 of you responded, 131 voting a Trump Administration will be good for SBA.
44% say Trump will increase SBA’s loan authority. 25% vote for no impact. Only 31% say SBA’s loan authority will be cut.
As you can imagine, many of the comments were snarky, several unprintable.
So, I’ve culled a couple of representative comments that the entire family can read.
- He is all about business and creating jobs, so we should see increases.
- Maybe Trump can fix the SBA?! He seems to understand the difficulties and costs to small businesses and small banks of too much red tape, documentation and compliance. The public should not be able to get a mortgage faster than a small business loan (especially loans $350K and under). The SBA has tried to make these easier with the Small Loan program, but when they are FDIC regulated, they need to have just as much documentation for a $350K loan as they do for a $5 million loan.
- He likes business people and will understand that SBA has more positives than negatives and right now costs the gov’t little to nothing. With oversight changes to keep Congress happy, SBA should be ok.
- I think he will be big on Small Business. It increases jobs which was one of the platforms he ran on.
- Pro small business and for reducing the impediments of regulations on small business- this is a good thing!
- An obvious target is reviving factories in areas devastated by adverse trade deals. Michigan auto plant towns and Pennsylvania steel towns are obvious targets. How about a super sized 504 with no size standards for rebuilding and deactivating eligible sites? Process
- LOCALLY as deals are too complex and hands-on to do in centers.
- Responsible government and industry oversight has made SBA lending programs valuable tools for economic growth. If government and industry participants continue to demonstrate proper use of the programs, then the new administration would have a hard time justifying significant program reductions.
- I’m optimistic that as a businessman, Trump will appreciate a loan program which helps small businesses. I would not be surprised though if he puts into place a slightly more conservative administrator and tightens the rules back up a bit.
- I think the one thing we can say with some degree of certainty about a Trump Administration is that it should be good for the business climate in the USA.
- Hard to know what President Trump will do, but a Republican administration that wants to cut the size of government will probably look at agencies like SBA and decide they are unnecessary… especially when that agency does something completely stupid like wasting taxpayer dollars to hire a marketing consultant to change the name of the two flagship loan programs.
- He has no sense of what is good from the people of this country. He only cares about big business not those with dreams struggling to succeed
- Don’t be surprised if Trump deemphasizes the SBA and the programs somewhat (doubt if the new administrator is a member of his Cabinet).
- Trump is anti-small business and anti-govt programs.