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Join NAGGL at its 35th Spring Conference in Orlando, FL. The conference tees off Tuesday, May 7 with the Scramble Golf tournament at 8:00 am followed by that evening's opening reception at 6:30 pm. Wednesday, May 8, starts bright and early with a General Session full of updates from NAGGL and our SBA guests followed by two full days packed with sessions covering current news. Register Online >

Conference Agenda > | Session Descriptions > 


 SBA's Office of Credit Risk Management (OCRM) has a position open for a Financial Analyst. Apply by May 2 if you're interested!        

 

House Small Business Committee Hearing

April 10 - SBA 7(a) Budget Proposal and the Impact of Fee Structure Changes

NAGGL president and CEO Tony Wilkinson will testify. Watch the hearing live at 10:00 Eastern >

Hearing Memo >

Testimony of Tim Gribben (SBA) >

Testimony of Tony Wilkinson (NAGGL) >

Testimony of Lynn G. Ozer (Fulton Bank) >

Testimony of Gail Jansen (Kinecta FCU) >

Testimony of Gordon Gray (American Action Forum) >


President's FY20 budget request presents shocking positive subsidy with serious ramifications for the 7(a) program; NAGGL calls on Congress to challenge it

In the President's FY20 budget request released on Monday March 18, SBA announced a positive subsidy for the 7(a) program of 33 basis points, or $99 million.  This is a major shift from the program’s track record of operating at zero subsidy.  Absent an amendment to the subsidy calculation from SBA, before October 1, Congress must either appropriate $99 million to fund the program or raise fees on borrowers and lenders to cover the $99 million cost of the program -- or the program will shut down.  The real problem?  The positive subsidy calculation does not seem to make sense considering the portfolio's performance metrics and a history of SBA overcharging borrowers and lenders to the tune of $3.2 billion over the last eight fiscal years.  NAGGL is on top of the issue, engaging Congress and challenging the subsidy calculation.  Read more on this critical issue >


Statement from NAGGL'S CEO, Tony Wilkinson - 3/25/19

On March 22, 2019, the US Department of Justice announced that it had filed charges involving allegedly fraudulent submissions of SBA loan applications and guarantee repurchase requests. NAGGL's CEO, Tony Wilkinson, provided the following statement:  

The charges described in the recent DOJ press release, if proven, are serious violations of existing law and are inconsistent with the principles of program integrity and ethical behavior that NAGGL has always championed. NAGGL does not condone any misconduct, let alone the kind alleged in the release, and we fully support the efforts of government agencies and law enforcement authorities to uphold the laws and standards of the SBA lending programs. Any one actor operating outside the lines jeopardizes the 7(a) loan program's integrity and the hundreds of thousands of small business jobs created by 7(a) lending every year.

You can find the full press release from the Department of Justice here.


 

Click here to view Job Bank positions  >


APRIL RATES

Prime Rate = 5.50%

Fixed Interest Rate Base = Prime [+ allowable spreads]

Federal Register Notice (11/2018) >
Maximum Allowable Fixed Rates >

SBA LIBOR Base Rate = 5.49%
History of SBA LIBOR base rate >

SBA Optional Peg Rate = 2.88% [April 1-June 30, 2019]
[SOP 50 10 5, "Base Rates will be rounded to two digits with .004 being rounded down and .005 being rounded up."]


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