Testimony for Itzel Sims before the Senate Committee
3.4.2025Media
Chair Ernst, Ranking Member Markey, and members of the Committee, thank you for the opportunity to offer testimony for today's Hearing: "Hearing from Lenders: Managing Risk for the Long-Term in the 7(a) Loan Program." My name is Itzel Sims, and I am Director of Small Business Administration (SBA) Lending for First Security Bank, a community bank located in Searcy, Arkansas.
Small businesses are the backbone of the American economy. The Small Business Administration's 7(a) Program helps small businesses that might not otherwise have access to capital obtain loans, so that they can grow and create jobs. Now in my 26th year making loans to small businesses, I am proud of the work that my colleagues at First Security and I do to assist businesses across Arkansas with 7(a) and other small business loans. I am very pleased to present this testimony on behalf of First Security and the American Bankers Association (ABA).
My work with SBA lending has spanned four institutions, giving me a broad perspective regarding the challenges and opportunities presented by the 7(a) Program. I began my career at Arkansas Capital Corporation, an Arkansas nonprofit, nonbank lender that specializes in government guaranteed lending. In 2015, Regions Bank approached me to become an SBA specialist for its Arkansas market, where I was a top producer of SBA loans. In 2019, I pursued an opening as SBA Regional Manager for Simmons Bank, a midsize bank located in Pine Bluff, Arkansas. In that role, I managed the origination and closing process across six states.