Monday, January 14, 2008

No Reduction in SBA Fees

Don't count on any reductions in SBA loan fees.

The SBA's $569 million budget for this fiscal year includes $69 million in congressional earmarks but doesn't include $80 million that could have been used to reduce fees on SBA loans. The House's original SBA funding bill included an extra $80 million in funding for the agency's 7(a) business loan program, a popular source of long-term financing for small businesses.

The SBA's budget for this year is a miniscule part of the $555 billion omnibus appropriations bill that the House sent to President Bush in December.

With all the candidates in both primaries focused on economic stimulus, someone at a town hall meeting or debate should ask them about a reduction in fees for small business loans guaranteed by the SBA.

Need help finding the right SBA lender or telling your story the right way? Read "Matchmaking for Business Loans" and give me a call!

Tags : SBA , Patriot Express , 7a loan , 504 loan , working capital , business loan , small business

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