Welcome to 2022!  Do you feel like you’ve hit the ground running? Or is it more like you’re still reeling from 2021?  Either way, in this past year we saw so many unprecedented events that we wonder what’s in store for 2022. And in the world of SBA lending, so much happened: SBA’s 90% guaranty along with the waiver of guaranty fees created a frenzy of loan applications. Also, who would have thought lenders would see the SBA making loan payments on behalf of SBA borrowers? Or making PPP loans that could qualify for total forgiveness?

Navigating through all the requirements and the flow of SBA information wasn’t easy for any of us. Yet it was well worth the effort. You likely saw firsthand how these programs helped save or create jobs during challenging times. I wonder how many of the local businesses in my area were able to stay open because of these programs.
I’ll bet it’s a lot!

What to expect in 2022?
While the pandemic rages on, and the global economy continues to be impacted, we’re confident of a turnaround but still wonder what’s next. It’s very much a rollercoaster ride. Yet one thing is for sure, 2021 was a learning experience for everyone. While the downslopes are scary, we know we’ll start climbing again. As SBA Administrator Isabella Casillas Guzman said in her New Year’s Eve Address:

“Our nation’s small businesses and innovative startups are the engines, the heartbeat, and the giants of our economy. And the SBA will continue to transform its capital programs, networks, market access initiatives and operations in the year ahead to better support America’s entrepreneurs as we strive to become more customer-centric, tech-forward, and equitable than ever.   

That work will be my highest priority as we enter a new year—a horizon filled with new opportunities and endless possibilities.”

At JRB, we’re looking forward to what 2022 will bring!  We continue to explore new opportunities and ways to support SBA lenders. We’re ready to help. Contact JRB.

Wishing you a successful 2022!

Paul Baker
JRB Associate