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  1. #1
    Senior Member Reputation points: 67659
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    Continued Pressure on Referral Sources and Independent Originations

    Via SmartBiz:

    We’re writing to ask you to help protect the small businesses that power the American economy by joining us in forming the Protect Small Business Lending Coalition.

    The Protect Small Business Lending Coalition is working with lending partners, small business advocates and small business owners across the country to prevent the unintended consequences of a new Small Business Administration (SBA) proposed rule that would make sweeping changes to 7(a) lending programs. This rule is being pushed through quickly without ample opportunity for input, even though it will have significant impacts for small businesses who want loans and the lending community working to provide fair and affordable financing.


    In particular, the SBA’s proposed change to 13 CFR 103.5 would severely restrict the critical role packaging and referral providers play in simplifying small business access to low-cost SBA capital. By significantly cutting current fee caps for referral and packaging, SBA will push these providers out of the market, potentially reducing the availability of SBA loans under $350,000 by as much as 20 percent.

    The SBA’s proposed changes will hurt small business owners – particularly those who need smaller loans under $350,000. Help us protect access to capital for your small business clients by joining the Coalition and telling the SBA to expand, not limit, access to capital for small businesses.

    We need to act fast. The SBA is accepting public comments through November 27th. Click the link below to tell the SBA that access to credit is critical for the small businesses you work with.
    https://actnow.io/17Ny0OD?utm_source...e948-147522769

  2. #2
    Senior Member Reputation points: 73585
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    What part of the proposed amendments is everyone objecting to?

    The Decrease in fees allowable or commission?

    Or the additional requirements of being a lender, not a broker /white label to facilitate the deals unless you have X experience with commercial lending? And an additional requirement for all the employees to have X experience in the form of $$ production numbers with acceptable performance ?


    That's what happens when you are regulated. The commission goes down and it becomes a monopoly where only the strong survive.

    * strong meaning big banks...they even gobbled up the community banks, small regional banks and credit unions


    Also if your office is in the home territory of any Real Lender/Bank doing SBA loans they will not allow you to continue to move forward doing business
    Last edited by Karen37a; 11-07-2018 at 12:49 PM.
    Optimal thinking is multidisciplinary, luck is the result of design; the more skillful you become, the luckier you get.

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