Have You Heard the Good News About SBA Loans? tagged:

Have You Heard the Good News About SBA Loans?

Posted by in Commercial Real Estate

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 Brian Peart at 770-908-1672 for all your commercial needs!