opinion Opinion: SBA’s New Playbook Is Rewriting the Risk for ETA Investors — Here’s How We Level Up These rules are race‑neutral on paper but they raise the stakes for all ETA investors, and they especially matter in corners of the market—like ours—where SBA and pooled capital are used heavily. The answer is not to retreat from operating, but to expand our toolkit and change how we play the game. By Noah Carmichael • 9 min read
