Monday, August 30, 2010

Small businesses want SBA to do more to help Main Street - bizjournals:

http://trade-software.net/2008/12/triple-3-dimensional-options-are/
The SBA began on Monday to accept applications for emergenc bridge loans of upto $35,000. Small businesses can use these loans, which were created by the economicstimulusz bill, to make up to six months of payments on existing They won’t have to start repaying the loanws until a year after the last disbursement. The SBA will subsidizes the interest on these which will be offeredthrough private-sector The stimulus bill also temporarilh reduced or eliminated fees on the SBA’w regular 7(a) and 504 busineses loans, and increased the governmeng guarantee on 7(a) loans to 90 Weekly loan volume for the SBA’s 7(a) and 504 programs has increase d by more than 30 percent since these changes were implementef March 16.
This increase in SBA lending is “a positive and welcomer sign, but we have a very long way to go before SBA lendingv reaches solidlevels again,” said Cynthia vice chairman and chief operating officer of Bank of the West in Texas. Blankenship told the House Small Business Committee last week that Congres s should extend the fee reductions beyonf 2009 or makethem permanent, give n the depth of the recession and the credif crisis facing small businesses.

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