August 6, 2025

credit quality

Loans

Florida bank axes SBA loan program after bad loans surge

A week after reporting a second consecutive quarterly loss, Florida-based BayFirst Financial has shuttered the small-dollar Small Business Administration lending program that lays at the heart of its problems. BayFirst announced late Monday it has terminated its Bolt loan program. As part of the decision, the $1.3 billion-asset BayFirst laid off its 26-person Bolt team,

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