SBA Rules Might Change!

by a searcher

5 years ago

Good news for anybody closing a deal using an SBA loan. Attached a link below to the Senate's proposed changes to the SBA program. Here's a blurb below that impacts us: 

Specifically, Chairman Rubio’s bill would:
Waive all fees for all 7(a) loans for one year for both lenders and borrowers.
Provide a 90 percent loan guarantee for all loans, no matter the size.
Increase the loan limit for SBA Express from $350,000 to $1 million. This program currently provides an accelerated turnaround time of 36 hours for SBA review, and provides a revolving line of credit for small businesses. 

https://www.sbc.senate.gov/public/index.cfm/2020/3/chairman-rubio-to-introduce-bill-to-help-small-businesses-impacted-by-coronavirus

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searcher

Following

1 month ago | like reply | 0 likes

searcher from Northwestern University - Kellogg School of Management

thank you for sharing, very helpful

9 months ago | like reply | 0 likes

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