SBA 7(a) Budget Proposal and the Impact of Fee Structure Changes
0 Wednesday, April 10, 2019 @ 10:00
The Committee on Small Business Subcommittee on Economic Growth, Tax, and Capital Access will meet for a hearing titled, “SBA 7(a) Budget Proposal and the Impact of Fee Structure Changes.” The hearing is scheduled to begin at 10:00 A.M. on Wednesday, April 10, 2019 in Room 2360 of the Rayburn House Office Building.
The 7(a) Loan Guaranty Program is SBA’s flagship lending program, guaranteeing more than 60,000 small business loans totaling $25.4 billion. Traditionally, the program relies on a combination of fees and recoveries of collateral on defaulted loans to operate without appropriations from Congress. However, in its budget request to Congress for FY2020, SBA predicts a funding shortfall in the program, and in response, proposes numerous fee increases to cover the shortfall. The purpose of this hearing is to provide Members the opportunity to examine the SBA’s budget and consider how the changes will impact small business lending.
To view the livestream of the hearing, click here.
Mr. Tim Gribben
Mr. Tony Wilkinson
*Witness testimony will be posted within 24 hours after the hearing’s occurrence