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 on the 2 main SBA lending bills currently proposed in Washington – Senate Bill 2869 and House Resolution 3854.  If either one passes it will be good for small and mid sized businesses because both provide for larger loan amounts and/or increased SBA eligibility and both would also make a SBA 504 refinance possible.

The bills will likely be deliberated in May and hopefully one will be passed.