The Financial Technology Association appreciates the opportunity to respond to the Small Business Administration’s proposal to lift its regulatory-imposed limit to license new Small Business Lending Companies to participate in its 7(a) Loan Program. Since the 1980s, the number of SBLC licenses available to non-depository lending institutions, authorized by the SBA and subject to “certain prescribed standards,” has been limited, and we agree with the agency that expanding the number of licenses, in line with SBA oversight resources, can “accomplish the goal of expanding capital opportunities to underserved businesses.”

Read FTA’s full comment letter here.