In 2018 loans to small businesses backed by the SBA have risen 4% this year and are on pace to beat the tally from 2017. Personally I am not a fan of the SBA, the costs are huge and they are designed to protect the banks not the borrowers.
The SBA’s flagship loan program guaranteed $26 billion in loans last year. The recent changes are expected to help fuel more business lending.
Under the new SBA rules, banks will be able to finance up to 90% of a small business acquisition for loans over $500,000. The agency previously required a 25% down payment for these loans.