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.
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.
Follow NSBA as we continue engaging with SBA on solutions for the Priority Issue, and find complete details on the WCP here.
