SBA Accepting Applications for SBLC License through July 31, 2023
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For the first time in over 40 years, the SBA opened a window for new applications for Small Business Lending Company (SBLC) licenses. New applicants may apply between June 1, 2023, and July 31, 2023.SBA approves Small Business Lending Company Licenses for selected non-depository lenders to increase responsible small business lending. An SBLC license allows the lending organization to utilize government guarantees when underwriting small business loans to reduce the level of risk to the lender and cost to the borrower. As a result, SBLCs are positioned to write higher volumes of loans to small businesses than possible without a government guarantee. There are currently 14 SBLC licenses in the marketplace today. An SBA rule finalized last month lifted the moratorium on additional licenses. SBA will issue up to three new licenses to qualified lenders based on a review of applications received during this application window. To read more, click the link below. |