In this week’s SBA Today, hosts Paul Long and Tonya Mazurek discuss the political buzz around potential candidates for the SBA administrator role, featuring names like Tim Scott, Laura Trump, Sarah Palin, and Mike Lindell.

They also delve into a report comparing how small and large banks handle small business loans, highlighting the personalized approach smaller banks often take. Tonya shares a heartfelt farewell to a valued colleague, emphasizing the importance of relationships in banking. 

Tune in for insights on the latest SBA news and bank dynamics.

Key Takeaways:

• Future SBA Administrator Predictions: Possible candidates include Tim Scott, Sarah Palin, and Mike Lindell, sparking debates and speculation.
• Small Banks vs. Large Banks: Small banks deliver more personalized service, meeting with small business loan applicants nearly 90% of the time.
• Relationships in Lending: The importance of direct relationships and their impact on credit decisions in fostering small business growth.

Potential Candidates for the Next SBA Administrator

The buzz surrounding the appointment of the next SBA Administrator is a dynamic discussion teeming with political intrigue and the stark realities of governance. According to Inc. Magazine, among the notable names being considered are Tim Scott, Laura Trump, Sarah Palin, and Mike Lindell.

Each of these individuals brings a unique blend of experiences and characteristics. "I'm very eagerly looking at who will be SBA administrator," Paul Long notes, illustrating the intense curiosity this leadership decision brings within political and economic spheres. 

Small Banks Surpass Large Banks in Meeting Loan Applicants

A revealing segment of the discourse revolves around the comparative dynamics of small and large banks in small business lending. The Coleman Report, coupled with FDIC findings, underscores that small banks are significantly more inclined to have direct interactions with loan applicants.

"Small banks are significantly more likely than large banks to meet directly with small business loan applicants," states Tanya, illustrating how nearly 90% of small banks manage to engage directly with their clients, compared to less than 40% for larger institutions. 

Disclaimer: The views expressed on this show are our own and not necessarily the views of our employer. 

Are you a business owner or prospective business owner? Let’s see how we can help you.

If your business or perspective business is in:

Washington, Oregon, or Idaho contact: Paul Long at Gesa Credit Union [email protected]

Colorado, Texas, Missouri, Florida, Arizona, and Tennessee contact: Tonya Mazurek at Midwest Regional Bank [email protected]