Speaking on behalf of small financial institutions, multiple trade representatives testified in favor of the Small Business Administration’s 7(a) Loan program during a recent hearing with the House Small Business Subcommittee on Investigations, Oversight and Regulations, asserting that it has been successful in spurring economic growth.
Among the association to speak on behalf of the program were the American Bankers Association, Independent Community Bankers of America and the National Association of Federally-Insured Credit Unions. Read on to see what points they made in their testimonies.