Congress has extended higher guarantees and reduced fees on SBA loans through May 31st.
According to an article in the Orlando Business Journal, this makes SBA lending less risky for lenders and more affordable for borrowers. It has brought 1,200 lenders back to SBA lending. Even better news? 7 (a) lending through April 12, 2010 is up 112% over same lending in the same period last year!
SBA is apparently hoping for an extension through the end of 2010.
This is excellent news for our clients, our franchisors and our economy.
Read the article here