A New Report Card on the SBA’s Loan-Guarantee Programs

A New Report Card on the SBA’s Loan-Guarantee Programs

Photograph by Andrew Olney The Small Business Administration guaranteed $29.6 billion in loans through its two biggest lending programs in the year ended September 2013, the agency said this week. That includes $11.7 billion for the SBA’s 504 program, which is used to finance real estate and other major assets, and $17.9 billion for its […]

Read More

The SBA Offers Sweeteners to Encourage More Small Loans

Although the numbers dropped a bit in fiscal 2013, the Small Business Administration’s two primary loan-guarantee programs have been on a roll lately. They topped $30 billion in fiscal 2011 and fiscal 2012, setting agency records, according to the agency’s acting chief, Jeanne Hulit. But smaller-dollar-value loans have been decreasing over the past three years, […]

Read More

Unearthing Criticism of an SBA Loan Program

Unearthing Criticism of an SBA Loan Program

Photograph by Ann Cutting/Corbis It wasn’t just the Small Business Administration’s loan approval process that got held up by the government shutdown. So did its press releases, including one announcing a Sept. 27 report from its Inspector General’s office  (PDF) indicating that the SBA failed to “maximize recovery” on $752.6 million in defaulted disaster loans from June 2006 to […]

Read More

Tallying Disaster Loans One Year After Hurricane Sandy

Tallying Disaster Loans One Year After Hurricane Sandy

Photograph by Katya Kazakina/Bloomberg A destroyed art gallery on West 22nd Street in the Chelsea neighborhood of New York, on Nov. 5, 2012 It’s been a big year for the Small Business Administration’s disaster lending program. After Hurricane Sandy devastated parts of the Northeast U.S. last October, the agency approved $2.4 billion in loans to […]

Read More

Sequestration Cuts $92 Million From the SBA’s Budget

When outgoing Small Business Administration chief Karen Mills briefed reporters last month, she said “the sequester is just terrible for small business.” How terrible it will be remains an open question. Small businesses that make their bread by contracting to government agencies are going to be hurt, though the extent of the damage won’t be […]

Read More

Tallying Disaster Loans One Year After Hurricane Sandy

Tallying Disaster Loans One Year After Hurricane Sandy

Photograph by Katya Kazakina/Bloomberg A destroyed art gallery on West 22nd Street in the Chelsea neighborhood of New York, on Nov. 5, 2012 It’s been a big year for the Small Business Administration’s disaster lending program. After Hurricane Sandy devastated parts of the Northeast U.S. last October, the agency approved $2.4 billion in loans to […]

Read More