SBA Bypasses Banks in Hurricane Recovery Efforts

American Banker
Monday, September 11, 2017

A growing number of bankers want to partner with the Small Business Administration on disaster relief as rebuilding estimates tied to Hurricane Harvey continue to mount and as Floridians and Georgians assess damage from Irma. The SBA, however, is giving little indication that it would welcome the help. No funds have been set aside to back an indirect program of bank-made, government-guaranteed loans, even though a 2008 law directed the SBA to do just that.