Helping Small Business Start, Grow and Succeed
Monday, May 4, 2009
Improved Financing to Start or Expand Your Small Business
If you're an entrepreneur looking to start or expand your business, the U.S. Small Business Administration has some good news for you.
As part of the American Recovery and Reinvestment Act of 2009, the SBA is temporarily eliminating some borrower fees on two programs and temporarily increasing guarantees up to 90 percent on the 7(a) program, SBA's largest loan program. The fee elimination means more capital available to businesses at a lower cost. The increase in guarantee levels will help provide banks with the greater confidence they need to extend credit during the current economic crisis, which will mean more capital available to small business owners across the country.