Changes Proposed by the U.S. Small Business Administration Will Make Borrowing & Lending Easier

March 10, 2013

After extensive consultations with lenders and borrowers to identify the greatest challenges they faced when lending and borrowing, the SBA found ways to reduce barriers in order to make SBA business loans easier. Borrowers and lenders of SBA loans will have greater access to capital and less paperwork as a result of a proposed regulation to streamline the SBA application process.

The goals of the proposed changes include:

• Greater Access to Capital
• Less SBA Loan Paperwork
• Make Lending and Financing SBA Loans Easier for Banks and CDCs
• Make the SBA Loan Process Easier for Borrowers
• Strengthen Oversight and the Integrity of SBA Loan Programs

SBA expects changes to take place in the 3rd Quarter of 2013