Nov. 30, 2021
ICBA continued its grassroots efforts against a provision under consideration in the Build Back Better reconciliation bill that would authorize the Small Business Administration from making direct loans under the 7(a) program.
Letter: In a letter to House Small Business Committee Ranking Member Blaine Luetkemeyer (R-Mo.), ICBA said the SBA would be a “poor and costly alternative” to community banks which “have direct ties to their communities, knowledge of local economic conditions and expertise honed over generations that cannot be duplicated by the SBA.”
More: ICBA has spoken out against the proposal in a news release, previous letter to committee leaders, and testimony before the House Small Business Committee.
Grassroots: Community bankers can use ICBA’s Be Heard grassroots action center to urge Congress to oppose the SBA direct lending plan. Contact Congress here.