Banks working to protect ability to make some small business loans

In a joint letter to Senate leadership in June, ABA and the Independent Community Bankers of America provided feedback on the Small Business Lending Oversight Act of 2016, a bill that would enhance the oversight of the Small Business Administration’s 7(a) loan program. The associations expressed their commitment to working with both House and Senate leadership as the bill moves forward to ensure that 7(a) loans remain accessible to small businesses and cost-effective for the financial institutions offering them. Read more.