PA Small Biz Loans Are On Ice

Wait, does “small business owner” refer to a CEO that’s under 5’7”? We love our short kings! Get that paper, Napoleon. 🫡💵

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When small business owners are strapped for cash, they reach for a lifesaver from the PA’s Small Business Administration (SBA). 🛟 However, with the government’s doors closed until who knows when, loans are freezing up quicker than a booger in the North Pole. 🥶

Here’s Five Fast Facts on the government shutdown and small business loans:

1. ☎️ Hold, Please - Thanks to the federal shutdown, the SBA’s 7(a) and 504 lending programs are put on hold. Across the country, that means roughly 320 small businesses per day are closed off from accessing $170M in loans.

2. ❄️ Ice Cold - Each week in the Keystone State, 54 small business loans totalling just under $26M are being put on ice. Anyone who relies on SBA loans to expand their businesses, pay their employees, or buy new equipment is out of luck.

3. 🤝 Lendy Wendy - Fun fact: SBA loans are funded completely through lender fees, not taxpayer dollars. Prior to the shutdown, the SBA guaranteed 84,400 loans to the tune of $45B for 2025.

4. ⏫ Top Tier - In a lineup of states with the most SBA loans on hold, PA came in at number 9. California has the most loans on ice (212) followed by Texas (128) and Florida (135).
   
5. ⏳ Time Will Tell - How long will this current shutdown last? Unfortunately, we really don’t know. Two shutdowns occurred in Trump’s first term. One lasted two days and the other went on for 34 (a record).

🔥Bottom line: Running a small business is tough. In an economy like this one, loans help biz owners weather the storm and come out alive on the other side. Let’s hope this faucet turns back on ASAP. Did you hear about the leaked Amazon memo? Ya know, the one where they say AI will replace 600,000 jobs? Extra, extra read all about it here. 

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Trying to get a small business loan?

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