Tony G. Uribe: SBA lenders are likely to face a dynamic environment in 2025. The SBA had eased eligibility requirements under the previous administration, but the current administration has indicated an intention to reverse many of those changes in the near future.
This shift is largely driven by rising delinquency and default rates, as well as concerns about maintaining the SBA program’s self-sustaining, zero-subsidy model. The challenges stem from relaxed program standards, reduced fees (impacting program funding), and the participation of non-bank lenders such as fintech companies, many of whom have less experience with commercial lending.
For seasoned SBA lenders, these forthcoming changes are seen as necessary and appropriate, though they bring an element of uncertainty as the full scope of revisions has yet to be announced.
What has been the most significant news at your company in the past year?
Brian Kilkenny: Last year, we deepened our social impact with $4.9 million in giving through volunteerism, strategic grant making, financial education, and community involvement. For the second year in a row, Newsweek named us one of the nation’s best credit unions, in addition to being voted “best of” in many reader polls and receiving the SBA 504 Third Party Lender award for the third consecutive year.
We also introduced many new online tools to save our members time and money, expanded business services, and now offer certified financial coaching to help members with budgeting, savings strategies, debt management, and other mid- and long-term goals. In the first quarter, RCU has funded nearly 400 business loans — representing an 86% increase compared to Q1 2024.
Anna O’Brien: TMC Financing had a record year in 2024, providing over $650 million in SBA 504 financing to small businesses across California, Nevada, Arizona, Hawaii and Oregon. The company expanded its footprint in the Pacific Northwest and rolled out several borrower-focused tools to enhance transparency and ease during the loan process.
As a mission-based lender, TMC continues to prioritize access to capital for underserved business owners and first-time buyers, reinforcing its commitment to economic development and job creation in local communities.
Joe Rico: Bank of America serves approximately one in three small businesses owners, ranking as the No. 1 small business lender by the FDIC for 14 consecutive quarters. It was named the “Best Bank in the U.S. for Small and Midsize Enterprises” by Global Finance magazine.
In 2024, BofA combined its existing business banking and Small Business, Specialty Banking & Lending teams to better serve new and established businesses with financial guidance and banking solutions, and expanded its Preferred Rewards for Business program. Today, 86% of our business clients are digitally active, leveraging our digital platforms, CashPro and Business Advantage 360 to manage their businesses with self-service tools that monitor their payments, working capital, treasury, trade, merchant and credit operations.
Last year, BofA proudly achieved a record 88.2% client satisfaction score from our small business clients.
Ole Tustin: In 2024, U.S. Bank was once again a top SBA lender in the state, both in terms of total loans and overall loan volume. In the Bay Area and Northern California, we have continued to see strong interest from small business clients looking to make real estate and business acquisitions as well as capital purchases.
Nationally, for fiscal year 2025, we are No. 6 in dollars and No. 5 in total SBA loans and our outlook remains strong as we are well-positioned to help our clients grow this year.
Tony G. Uribe: Exchange Bank has been built upon the significant contributions of many great leaders over our 135-year history. Their dedication to the mission and culture of Exchange Bank brought this institution to the place it is now, and their commitment to our community continues to inspire us today.
During 2024, the Bank continued the tradition of community connection, donating a total of $726,000 to over 200 organizations and contributing 3,036 hours of community service. Additionally, 50.44% of the dividends paid by the bank in 2024, or $4.49 million, went directly to the Doyle Trust to fund scholarships at Santa Rosa Junior College.
