07/23/2015

ICBA Urges Congress to Keep SBA 7(a) Loans Flowing

ICBA urged congressional support for an increase in the Small Business Administration 7(a) guaranteed loan program’s legal lending limit before the current $18.75 billion cap is reached. In a letter to the House and Senate small-business committees, ICBA noted that the 7(a) program is expected to reach the cap as soon as this month, which would cut off needed credit to thousands of small businesses. ICBA is calling on Congress to approve an increase in the program’s authority before it adjourns for the August recess. Read ICBA Letter.