•      "The SBA had its own concerns that it did not have the oversight capabilities to monitor and regulate an unlimited number of SBLCs, yet the Biden-Harris administration sought to expand the number of SBLC licenses while also lowering lending standards and loosening underwriting criteria in the 7(a) program, expanding SBLC licenses when the SBA itself acknowledged that it is unequipped to regulate additional for-profit non-bank lenders is problematic. That’s why my legislation is so important—to ensure that the SBA is not addressing excessive SBLCs that it cannot properly regulate. We cannot continue giving the federal government ways to abuse taxpayer dollars." Source: Rep. Robert Bresnahan (Republican, Pennsylvania, District 8)

•      "... the Biden Administration’s SBA issued a rule getting rid of the SBA’s self-imposed 40-year moratorium limiting new SBLC licensing, potentially overburdening the agency by expanding despite the lack of resources and putting the integrity of the SBA’s loan programs at risk. Now, after the failure of new, Biden licensed SBLCs, the total count is 16 SBLCs. In order to protect the integrity of the SBA lending program and ensure it remains able to support small businesses in need, House Republicans are bringing legislation to reverse the Biden-era change and make sure future administrations don’t extend the program beyond the SBA’s oversight capabilities. This would not remove existing SBLC licenses, just prevent new licenses." Source: Rep. Steve Scalise (Republican, Louisiana, District 1), House Majority Leader