NSBA applauds recent efforts across Washington to expand access to capital for small businesses.
NSBA applauds recent efforts across Washington to expand access to capital for small businesses.
JUNE 20 | This week, the U.S. Small Business Administration (SBA) announced the 7(a) Working Capital Pilot (WCP) Program. This program offers newly structured lines of credit from 7(a) lenders.
RELATED | NSBA Survey: More than 50 Percent of Businesses Struggle with Access to Capital
Backed by the SBA, WCP lending is designed to give greater flexibility than traditional term loans, including transaction- and asset-based loans, as well as specific purpose loans, such as for electricians, plumbers, and other small contractors who may need a line of credit to perform work on certain qualifying jobs.
Improving Access to Capital is a critical Priority Issue for our community, and NSBA applauds the SBA for seeking new methods of meeting the varying capital needs of America’s small businesses.
RELATED | Review NSBA’s Priority Issues for 2023-2024
Follow NSBA as we continue engaging with SBA on solutions for the Priority Issue, and find complete details on the WCP here.
