SBA Lending – What’s Going On and How Abrigo Can Help
On March 27, President Trump signed the historic $2 trillion coronavirus bill into law. The bill includes a $349 billion expansion of the Small Business Administration (SBA) 7(a) lending program. The expanded program widens the pool of businesses eligible for SBA 7(a) lending, and financial institutions should begin preparing for an influx of applicants now.
Notoriously known for being a labor-intensive and inefficient process, SBA 7(a) lending is often overlooked at community financial institutions. However, with Sageworks SBA Lending, you can streamline your underwriting with less data entry and an E-Tran integration, reducing bottlenecks and siloed data for you and your team. And with relaxed standards and increase guarantees being offered from the SBA, all community financial institutions are encouraged to take advantage of the additional funding available.
Join to learn:
How the SBA 7(a) lending process is changing in light of the new legislation
The general process institutions must use to participate in SBA 7(a) lending
How to streamline the SBA process with Sageworks SBA Lending Solution
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