Episode 13 - SBA Update
Mar 26, 2010•1 min
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Episode description
Breaking News! NAGGL reports 7(a) and 504 Fee Reductions/Waivers and the 90% 7(a) guaranty will be extended to April 30th. The House and Senate passed the extension yesterday. "NAGGL expects President Obama to quickly sign the legislation into law."
That means SBA borrowers will pay less in fees (roughly $13,500 on a $500,000 SBA 7a loan)
It also means that banks will have a larger guaranty (typically 75%, now 90%) so banks hopefully will be able and willing to take a bigger risk on loans of all kinds.
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