Marlese Lessing

1 week ago | bankrate.com | Thomas Brock |Rob Watts |Marlese Lessing

With the current presidential administration making sweeping changes across the federal government, the Small Business Administration has undergone a wave of new regulations, standards and criteria impacting how small business owners can qualify for SBA loans. Here’s a roundup of the changes to be aware of, and how they can impact your small business.

1 week ago | bankrate.com | Thomas Brock |Aylea Wilkins |Marlese Lessing

Small loans are increasingly popular with small businesses, according to data from the Federal Reserve’s latest Small Business Credit survey. While the average SBA loan size in 2024 was $443,097, more businesses are seeking financing in the total of $100K, $50K and even $25K as they seek to sustainably scale, manage rising operating costs and manage increased borrowing costs.