Magazine : Archives : 4th Quarter 2021

Point of View

The Government Gift Horse Government-backed lending is having a moment.  Before Covid-19, participation in U.S. Small Business Administration lending programs was somewhat subdued. Although most banks have experience with the SBA, many of them do one or two loans per year. Pre-Covid, about 2,500 institutions were able to make a 7(a) loan, according to Patrick Kelly, associate administrator for the SBA’s Office of Capital Access.  Thanks to Congress’ pandemic relief, about 6,000 lenders have made one of a variety of loans through the SBA. The signature Covid relief package for small businesses was the Paycheck Protection Program, not so much...