House Small Business Committee Ranking Member Blaine Luetkemeyer (R-Mo.) expressed concerns with ICBA-opposed proposed changes to the SBA 7(a) loan program.
Luetkemeyer leads pushback on 7(a) direct loan proposal
October 04, 2021 / By ICBA
House Small Business Committee Ranking Member Blaine Luetkemeyer (R-Mo.) expressed concerns with ICBA-opposed proposed changes to the SBA 7(a) loan program.
House Small Business Committee Ranking Member Blaine Luetkemeyer (R-Mo.) expressed concerns with ICBA-opposed proposed changes to the SBA 7(a) loan program.
Concerns: In a CNBC.com op-ed and joint letter to congressional leaders with other Republicans on the committee, Luetkemeyer said the government should get out of the direct lending business—noting the reconciliation package would provide $4.5 billion to the SBA to make direct 7(a) loans.
Testimony: ICBA last week testified before the committee on the 7(a) proposal. Bank of Charles Town, W.Va., President and CEO Alice Frazier said experimenting with direct 7(a) lending—in which the agency has a poor track record—would jeopardize access to credit for small businesses.
Subscribe now
Sign up for the Independent Banker newsletter to receive twice-monthly emails about new issues and must-read content you might have missed.
Sponsored Content
Featured Webinars
Join ICBA Community
Interested in discussing this and other topics? Network with and learn from your peers with the app designed for community bankers.
Subscribe Today
Sign up for Independent Banker eNews to receive twice-monthly emails that alert you when a new issue drops and highlight must-read content you might have missed.
News Watch Today
Join the Conversation with ICBA Community
ICBA Community is an online platform led by community bankers to foster connections, collaborations, and discussions on industry news, best practices, and regulations, while promoting networking, mentorship, and member feedback to guide future initiatives.
Join the Community Example Text
