Small Business Lending Bill Passes Initial Test…

September 16, 2010

Small Biz “Lending and Jobs” Bill - Part One
As you may have heard by now, the Small Business Jobs and Lending Bill - HR 5297 - received enough votes in the Senate to move forward for a final vote expected later this week.  From there it is expected to be quickly approved by the House [...]

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SBA Loan Fee Waiver Not As Important As 90% Guaranty

August 2, 2010

No Extension of SBA Loan Fee Waivers…yet
The much hoped extension of the SBA 7a and SBA 504 fee waivers that was included in HR 4213 was cut from that piece of legislation before it passed, but it was added to HR 5297.
However, HR 5297 was voted down last week in the Senate, BUT…this bill is [...]

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Small Business Lending/Jobs Bill Not Passed…Yet

July 30, 2010

Small Business Lending Bill
The “Small Business Lending Bill” aka “The Small Business Jobs Act” has not passed yet.
(Here is a quick rundown of what it means to SBA Lending: SBA HR 5297).
Republicans and Democrats are still fighting about the number of amendments that are attached to the bill and if the information I’ve heard is [...]

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SBA Loan Fees - Is The Fee Waiver Coming Back?

July 15, 2010

SBA 7a and 504 Fee Waivers
Funds for SBA 7a and 504 fee waivers that were part of the Recovery Act expired on May 31st and the proposed legislation to extend it is unlikely to pass.
H.R. 4213 (or the “Extender Bill” as it has been called) passed in the House, but the Senate didn’t vote on it [...]

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New SBA Bill - HR 5297 - BIG, Good Changes

July 15, 2010

HR 5297 - SBA Refinances, Larger Loans, Larger Companies Eligible
SBA lenders have been talking about this for a while now and the latest bill - H.R.5297 (the “Jobs and Lending Bill”) - has been passed by the House and the Senate will now take it under consideration.
This is the bill that stands to have the [...]

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Purchase Order Financing

June 30, 2010

Purchase Order Financing - The Secret Weapon of Small Business
Purchase order financing is “transactional financing” where a purchase order lender finances the production of hard goods for an otherwise undercapitalized business.
The current restricted credit environment has made things very difficult for small and mid-sized businesses - especially those who sell goods to larger companies, big [...]

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SBA 504 Secondary Market Coming Back

June 24, 2010

SBA 504 Secondary Market for First Mortgage Loans Returns
The Small Business Administration announced today the first 9 “Loan Pool Originators” authorized by the SBA to sell pools of SBA 504 first mortgage loans.
The new secondary market is important because for the last few years most (formerly) active SBA lenders have been sitting on the [...]

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SBA 504 Rates Drop Below to 5.21% for July

June 24, 2010

SBA 504 Rates Heading Lower (Again)
504 loan rates have headed back down after drifting upwards earlier in the year.
The current rate for the 504 20 year fixed rate second mortgage for real estate is 5.21%.  (10 year fixed rates which are typically used for SBA Equipment loans are at 4.60%).
504 rates have hovered near 6% [...]

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SBA Loan Fees Waived

April 18, 2010

SBA 7a & 504 fees Waived Through May
SBA 7a and SBA 504 loan guarantee fees have been waived again as another extension of the Recovery Act was signed by President Obama Friday morning.
The current extension will last until the end of May and will include a continuation of the SBA 7a 90% guarantee.
Still no news [...]

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SBA Loan Alternatives…Asset Based Loans

April 8, 2010

Asset Based Loans - A Good Alternative to SBA Loans
SBA 7a and 504 loans are 2 of the best loan options available to those in need of commercial financing at the moment, but the reality is that many small and mid sized businesses that have good cash flow cannot qualify at this time.
It could be that [...]

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