(Photo: Susana Gonzalez/Bloomberg)
The Treasury Department and Small Business Administration released updated guidance Wednesday stating that the SBA will deem all loans with original amounts under $2 million to be in good faith, meaning the loans won't be challenged.
Debate is ensuing as to whether the guidance gives loan takers a license to steal or if it's a fair "walking back" of the SBA and Treasury's previous guidance.
Question 46 of its updated FAQ asks: How will SBA review borrowers' required good-faith certification concerning the necessity of their loan request?
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Melanie Waddell
Melanie is senior editor and Washington bureau chief of ThinkAdvisor. Her ThinkAdvisor coverage zeros in on how politics, policy, legislation and regulations affect the investment advisory space. Melanie’s coverage has been cited in various lawmakers’ reports, letters and bills, and in the Labor Department’s fiduciary rule in 2024. In 2019, Melanie received an Honorable Mention, Range of Work by a Single Author award from @Folio. Melanie joined Investment Advisor magazine as New York bureau chief in 2000. She has been a columnist since 2002. She started her career in Washington in 1994, covering financial issues at American Banker. Since 1997, Melanie has been covering investment-related issues, holding senior editorial positions at American Banker publications in both Washington and New York. Briefly, she was content chief for Internet Capital Group’s EFinancialWorld in New York and wrote freelance articles for Institutional Investor. Melanie holds a bachelor’s degree in English from Towson University. She interned at The Baltimore Sun and its suburban edition.
