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SBA's Community Advantage Small Business Lending Companies (SBLCs)

SBA issued a final rule effective May 12, 2023, lifting the moratorium on licensing new Small Business Lending Companies (SBLC) and creating a pilot for a new type of SBLC called a Community Advantage SBLC.


SBA plans to issue notices in the Federal Register with information regarding the Community Advantage SBLC license application processes. New applicants that did not participate as a Community Advantage Pilot Program lender are required to have nonprofit status to qualify.


Minimum capital requirements and loan loss reserves for Community Advantage SBLCs will be determined at the discretion of the SBA Administrator, in consultation with SBA's Associate Administrator for SBA's Office of Capital Access (AA/OCA) (or designee).


Permalink to rule: https://www.federalregister.gov/documents/2023/04/12/2023-07181/small-business-lending-company-sblc-moratorium-rescission-and-removal-of-the-requirement-for-a-loan

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