SBA Rescinds Moratorium on Small Business Lending Companies and Eliminates Loan Authorization Requirement

Summary

The U.S. Small Business Administration (SBA) is revising its business loan regulations to allow new Small Business Lending Companies (SBLCs) to be licensed and introducing a new type of SBLC called Community Advantage SBLC, while also removing the need for a loan authorization in its 7(a) and 504 loan programs.