Important Updates From GLCF on Presidential Pause

UPDATE: 6:12 PM on Tuesday, January 28, 2025

A federal judge has temporarily halted the Presidential pause on grants, loans, and other financial assistance programs. The judge’s order indicates the courts need additional time to consider the implications of the pause.

The order will expire on February 3, 2025, at 5:00 pm; however, the judge has scheduled a hearing for the same day to determine whether a longer stay is necessary.

This means CDCs like GLCF and our third-party lenders can continue to deliver 504 loans to small businesses during the temporary stay.

As NADCO continues to update our industry, GLCF will pass along the information to you.


Original Message: 11:23 AM on Tuesday, January 28, 2025

Presidential Pause Announcement

Effective January 28, 2025, at 5 PM EST, the Trump Administration has implemented a temporary pause on grant, loan, and other financial assistance programs to align them with Presidential priorities. This pause impacts all Federal financial assistance programs as defined in 2 CFR 200.1, but excludes assistance provided directly to individuals.

What This Means

At Great Lakes Commercial Finance (GLCF), we understand this may raise questions for SBA lenders and small businesses. While we are not directly involved in the discussions, our national association, NADCO, is actively working with SBA leadership and Capitol Hill to determine how this pause might affect SBA loan programs.

Here’s What We Know So Far

  • Effective Date: The pause takes effect today, January 28, 2025, at 5:00 pm.
  • Deadline: All Federal agencies are required to submit detailed program information to OMB by February 10, 2025.
  • Purpose: The goal of these reviews are to align programs with Presidential priorities.

GLCF’s Commitment to You

GLCF remains dedicated to supporting our lenders and small business partners during this time of uncertainty. We will share new information as it becomes available. Our team is here to assist with any questions or concerns.

Thank you for your continued trust in GLCF.


To Read the Memo from OMB:  Click Here.