Have you heard the Good news about the SBA loan programs?

 

Stimulus I – Extended Through February 2010

The extension of the stimulus bill was signed by President Obama Saturday, December 19th.

 

Provisions:

SBA 7(a) guaranty percentage at 90% through February 2010

Elimination of borrower guaranty fees through February 2010

The bill will support an additional $4.5 billion in SBA stimulus funding through an appropriation of $125million.

 

Stimulus II

The second SBA stimulus bill, aka Senate Bill 2869, passed the Senate Small Business Committee mid December. Expected House and Senate passage is expected this month (Senate does not return from Christmas recess until this week).

 

Provisions:

Increase 7(a) loan limit from $2 million to $5 million

Increase the 7(a) loan guaranty to a maximum of $4.5 million (90%)

Increase the SBA 504 loan limit from $1.5 million to $5.5 million

Allow the 504 loan program to refinance short-term commercial real estate loans

Extend Stimulus I – 90% 7(a) guaranty and borrower fee waivers -- through

December 2010

Increase the loan limit on microloans from $35,000 to $50,000

 

We Close a Tremendous amount of SBA loans.  Call Joanne Castillo at 970-631-8448 for all your commercial needs!

 

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Joanne,

What are the requirements and upfront fees on the microloan program?

Ross Holland
rosstheboss102@sbcglobal.net
Hi Ross,

How small of a loan are you looking for?

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