The new council will provide information, advice and recommendations to the SBA administrator on issues related to the availability of capital for small businesses, including in underserved communities; offer input to proposed small business lending practices; and help address obstacles to small business lending.
“Kevin’s deep understanding of financial services and lending from his extensive career inside and outside the hotel industry make him exceptionally qualified to take on this critical role,” said Rosanna Maietta, president/CEO, AHLA. “Kevin’s expertise will be highly valued as SBA’s new council works to address obstacles to small business loans, and his voice will help bring attention to the challenges faced by many of the more than 33,000 small business hotels in the U.S., which account for more than half of the nation’s hotels.”
Carey said, “Efficient and cost-effective access to capital is imperative for small business hoteliers across the country who want to make improvements to their properties; expand their operations to serve guests and their employees; and realize appreciation on their investment over time. I’m honored to take on this new responsibility, and eager to help SBA identify and reduce lending barriers for everyone in our great industry.”
SBA established its Small Business Lending Advisory Council as a Federal Advisory Committee under the Federal Advisory Committee Act. Members of the council will be asked to provide advice and insight on access to capital and how to support U.S. entrepreneurs; assess SBA loan programs and products to identify opportunities and barriers to these programs; identify vulnerabilities and gaps in lending to underserved markets; and support broader use and participation of SBA programs by a wider group of U.S. lending institutions.
Tags: American Hotel and Lodging Association (AHLA), Kevin Carey, Rosanna Maietta, Small Business Administration, Small Business Lending Advisory Council
