SBA runs out of stimulus money
Say goodbye to the 90 percent guarantee and reduced fees that sparked a rebound in Small Business Administration lending. In a few days, the SBA will run out of the $375 million in economic stimulus funds that enabled the agency to make these enhancements. As a result, beginning today, borrowers and lenders will have to make a choice: They can be put on a waiting list to receive these breaks as stimulus funds become available, or they can apply for a regular SBA loan with higher fees and a lower government guarantee for the lender. The SBA expects additional funds...
Original Article: Forum: News/Activism
Tags: Borrowers, Economic Stimulus, Enhancements, Few Days, Government Guarantee, Lenders, Money, Rebound, Sba Loan, Small Business Administration, Waiting List