The Voice: Industry News – July 3, 2018
July 2, 2018
Congress Passes SBA Lending Limit Increase; Trump Signs Into Law
Earlier this month, Congress voted to enable the Small Business Administration (SBA) to increase the annual limit on its loan guarantees for its popular 7(a) loan program by 15 percent.
Community Foundations Move Millions to Support Community Investments
There has been an uptick in the number of community foundations that are moving money out of big investment houses and into more local investment options.
Source: Nonprofit Quarterly
Op-Ed: Large, Bank-Like Credit Unions Should Be Treated Like Banks
The largest credit unions with nationwide growth aspirations should be treated like banks, with special focus given to community reinvestment requirements.
Latino-owned Businesses Growing in Number, Influence
About 1.2 million of the 12.2 million business owners in the United States are immigrant Latinos.
Source: Gainesville Times
Oportun Loans 2018 Review
Oportun focuses on lending to people in low-income communities who may have low credit scores, thin credit files or no experience with credit.
Fintech Lending Throws Banks Another Curveball
Kabbage outlines how it has handed over around a fifth of the $5 billion it has lent to small businesses since 2009 at night or over the weekend.
Exclusive Interview: SBA Administrator Linda McMahon Says Small Business Options Improving
One person who is decidedly optimistic about the American small business economy is Small Business Administration (SBA) Administrator Linda McMahon.
Source: Small Business Trends