WASHINGTON — Concerned with reports of “predatory and exploitative” lending practices in low-income and minority communities, the Small Business Administration yesterday took to task a bank over its activities.

At issue is Superior Financial Group’s involvement with the SBA’s Community Express loan program, which assist small businesses owned by women, veterans and minorities in underserved areas. Loan volume is capped at 10% of the total number of loans awarded in any fiscal year, according to SBA. Two lenders account for 80% of the loans, one of which is Superior, the agency said, adding the financial institution “has pushed hard to eliminate the cap.”


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.