Government Shutdown Effecting SBA Lending

According to industry experts some businesses are having to seek costlier options for loans since the SBA is unable to process and approve new loans; some are concerned about the lasting effects if the shutdown were to continue and some banks are working hard to make sure deals are ready to be submitted to the SBA once the shutdown ends; prior to the shutdown the SBA had a turnaround time of about a week for standard applications; the flagship 7(a) SBA program totaled $20 billion in the last four fiscal years. Source

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