On May 31, the Small Business Administration (SBA) will run out of money for the breaks that revitalized its lending programs. The Economic Stimulus Bill that passed in February 2009 increased the government guarantee on the SBA’s flagship 7(a) loans to 90% (up from the typical 75%) and reduced fees … [Read more...] about 5.31.10: SBA 7(a) Stimulus Money Runs Out Again
Karen McDonnell, Business Program Specialist for the N.Y. office of the USDA, reports that although the USDA B&I loan guarantee program has officially run out of stimulus money, an allocation of stimulus money will be available for applications received during the week of June 7, 2010. Ms. … [Read more...] about 5.26.10: But the USDA B&I Program Has Stimulus Money — for One Week Only!
U.S. Congress has extended breaks on U.S. Small Business Administration (SBA) loans for another month, making the loans less risky for lenders and more affordable for borrowers. Through April 30, the SBA will guarantee 90% of the amount of its flagship 7(a) loans, and reduce or eliminate fees on … [Read more...] about 3.28.10: SBA 7(a) Stimulus Provisions Extended through April 30, 2010
For companies seeking a federally guaranteed Small Business Administration (SBA) loan that doesn't carry origination fees, the clock is ticking. Following the signing of a jobs bill this month, a program of providing guarantees to 90% of the loan and waiving fees is back in place -- but only until … [Read more...] about 3.11.10: Here We Go Again. SBA Stimulus to Expire March 28, 2010