SBA becomes casualty of shutdown

One of the casualties of the Oct. 1 partial federal government shutdown is that the U.S. Small Business Administration has been basically shuttered.
 
According to a report in the Washington Post, small-business lenders anticipated the shutdown’s effect on the SBA, and rushed to secure funding in the weeks leading up to the Oct. 1 deadline.
 
The agency received in two weeks the typical volume of loan applications it gets in a month, more than $1 billion, and approved $175 million in applications on just Monday, according to the report. Despite the volume of approvals granted, many would-be business owners are now forced to wait until the shutdown is resolved to learn if their startup, expansion or continued-operations plans will be approved.

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