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Treasury and SBA Temporarily Disallow Loan Applications From Big Banks to Focus on Small Lenders

Treasury and SBA Temporarily Disallow Loan Applications From Big Banks to Focus on Small Lenders

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FintechNews RoundupUSA
··1 min read

On Wednesday the Treasury and Small Business Administration shared that they would prevent big banks from using the loan portal powering the small business relief program; the temporary limit is on banks with more than $1 billion in assets; according to the email which CNBC reviewed, the move was made “to ensure access to the PPP loan program for the smallest lenders”; going forward they will be evaluating whether this becomes a recurring move; the goal is to improve the chances of smaller sized businesses getting access to loans; some trade groups spoke out against the move. CNBC

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

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