SBA out of money for loan breaks
Press release from the issuing company
Thursday, May 27th, 2010
The Small Business Administration once again has run out of money for breaks that made its loans less risky for lenders and more affordable for borrowers.
The economic stimulus bill temporarily increased the government guarantee to 90 percent on the SBA’s flagship 7(a) loans and reduced or eliminated fees on 7(a) and 504 loans, which primarily are used for real estate. Congress has extended these enhancements four times, but the SBA announced Wednesday that it has exhausted all of the funds provided in the most recent (read more at Atlanta Business Chronicle)
