The U.S. Small Business Administration (SBA) has granted Small Business Lending Company (SBLC) licenses to four institutions, aiming to improve access to capital in underserved markets. This move represents the second expansion of the SBLC program under the Biden-Harris Administration and the second in 40 years.

Administrator Isabel Casillas Guzman stated, "For the second time in over 40 years, the Biden-Harris SBA welcomes new lenders with a shared mission of filling capital gaps in underserved communities – the very same communities who are starting businesses at the highest rates in America today."

The newly licensed entities include Cooperative Business Services, A10 Capital, Lafayette Square, and Stonehenge Capital. These organizations will now be able to offer more 7(a) loans through their locations in Ohio, Idaho, Washington D.C., and Louisiana.

Keith Reed from Cooperative Business Services remarked on this achievement as reinforcing their commitment to serving communities via a credit union consortium. A10 Capital's CEO Anuj Gupta emphasized their eagerness to provide lending solutions nationwide. Damien Dwin of Lafayette Square highlighted their goal of supporting working-class jobs and investing significantly in rural areas. L'Quentus Thomas from Stonehenge Capital expressed pride in focusing on low-moderate income and rural areas.

This expansion increases the number of SBLCs from 14 to 20 across various states. Each organization has specific plans for utilizing their licenses effectively within underserved markets.

Cooperative Business Services has facilitated significant funding for women-owned and veteran-owned businesses over its 21-year history. A10 Capital aims to support underbanked industries with an emphasis on renewable energy projects. Lafayette Square intends to focus on community solar initiatives among other projects while Stonehenge Capital plans substantial investments in green lending opportunities.