May 4, 2017
By Bob Coleman
Editor, SBA Hot Topic Thursday Special Edition
SBA Hot Topic Thursday Special Edition — Seven More Moves for Linda!
Yesterday I published a guest editorial of the seven moves SBA Administrator Linda McMahon could make to improve the 504 loan program.
Nice, positive feedback from a lot of you, along with some dissents — obviously capping 7(a) real estate loans wasn’t well received by some 7(a) lenders.
So, in the spirit of equal time, I am asking your help to recommend seven moves SBA can implement to improve 7(a) — (formerly knows as SBA Advantage)… well, I guess changing the name back to 7(a) used up one of the seven moves!
Anyway, to help you out, here our the results of our industry poll back in December asking you what her #1 priority should be when she assumed office:
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%
But, again, this is 7(a) specific…. Please give me one, three, five or seven recommendations.
I will take the top seven and forward them to her office.
As one of my favorite history profs said, “Be specific!”
What, specifically, should Linda McMahon do to help improve the SBA 7(a) loan program?