Community Banks to Seek More U.S. Help in Small Business Program

A trade group for community banks plans to ask the Treasury Department and the Small Business Administration for better access to the government’s new $349 billion program to keep small businesses afloat in the coronavirus outbreak, as concerns persist that many of its members are shut out.

The group, Independent Community Bankers of America, also plans to ask the Federal Reserve to immediately create a program to backstop the small business loans, as well as provide advances against loans from small banks, according to a draft letter viewed by Bloomberg.

Community banks have experienced delays in accessing the SBA’s ...