SBA Aims to Boost Lending in Underserved Markets
(Bizjournals.com) — The Small Business Administration rolled out two new programs aimed at increasing the flow of credit to businesses in low-income areas, as well as minorities and women. The SBA also announced that Radio One founder and chairperson Catherine Hughes will chair the agency’s new Advisory Council on Underserved Communities. The agency’s two new loan programs are scheduled to be up and running by March 15. They both feature a streamlined loan application process for loans of up to $250,000 through the SBA’s flagship 7(a) program.
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