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The Small Business Administration’s (SBA) charge-off rates, which represent the percentage of unpaid principal balance that has been written off as uncollectible, have shown a significant improvement over the past decade. The data reveals that charge-off rates peaked in 2015 at 1.69%, followed by a steady decline through 2020. Between 2014 and 2015, there was … Read more
The Small Business Administration’s charge-off amounts show significant fluctuation over the ten-year period from 2014 to 2023. The data reveals a notable peak in 2015, when charge-offs reached $1.837 billion, followed by a gradual decline in subsequent years. After 2015, there was a sharp downward trend, with charge-offs dropping to $803 million in 2017 and … Read more
The Small Business Administration (SBA) loan data for 2023 reveals that service-oriented industries dominated lending activity. Accommodation and Food Services topped the list with 8,504 loans, likely reflecting the continued recovery and expansion of restaurants and hospitality businesses post-pandemic. Construction followed closely with 8,148 loans, indicating strong growth in building and development sectors. Retail Trade … Read more
In a significant development for business owners and corporate entities across the United States, the Financial Crimes Enforcement Network (FinCEN) announced on February 27, 2025, that it will temporarily suspend enforcement actions related to the Corporate Transparency Act (CTA) beneficial ownership information reporting requirements. This decision effectively transforms what was previously a mandatory filing obligation … Read more
The 2023 Small Business Administration (SBA) loan data reveals a clear preference for Limited Liability Companies (LLCs) among loan recipients. Out of the total 63,286 loans distributed, LLCs dominated the landscape with 40,325 loans, representing approximately 64% of all SBA loans issued that year. Corporations ranked second with 15,521 loans (about 25% of the total), … Read more
The Corporate Transparency Act enforcement has resumed following the stay of the last remaining nationwide injunction. Here are the key updates and deadlines: New Primary Deadline: March 21, 2025 Special Deadline Exceptions: Important Considerations: The situation remains fluid, with ongoing litigation that could potentially impact these requirements further. Companies should stay informed about potential changes … Read more
The Small Business Administration (SBA) loan approval data from 2014 to 2023 reveals interesting patterns in small business lending over the past decade. The number of approved loans showed steady growth in the early years, increasing from 58,041 in 2014 to reach a peak of 70,082 approvals in 2016. However, following this peak, the numbers … Read more
Need funding for your business but at a loss on how to proceed? Afraid you will be turned down? You should be able to walk into a meeting with potential investors or a bank loan officer feeling completely confident about your business’s future. That confidence comes from having a rock-solid business plan – the single … Read more
The 2023 Small Business Administration (SBA) loan data reveals significant disparities in lending distribution across gender lines. Male-owned businesses dominated the lending landscape, receiving 42,406 loans, which represents approximately 67% of all SBA loans distributed that year. In comparison, businesses with majority female ownership (more than 50%) received 13,062 loans, accounting for roughly 21% of … Read more
The Small Business Administration’s (SBA) Unpaid Principal Balance has shown consistent growth over the past decade, reflecting an expanding portfolio of small business loans. From 2014 to 2023, the UPB increased by approximately $55.5 billion, representing a 53.8% growth over this period. The data shows a steady year-over-year increase, with the UPB starting at $103.1 … Read more