SBA Announces Increased Guaranty on 7(a) Loans

Since the signing of the economic Recovery Act, the Small Business Administration (SBA) has announced they are temporarily waiving certain loan fees and raising guarantees on 7(a) loans up to 90 percent. What does this mean for small businesses? Businesses will more likely be able to obtain capital at a lower cost. 
“I believe this is a major step in helping businesses receive financing that has not been available as of recent due to the economic downturn,” stated SBAC President Tony O’Reilly. “The SBAC is an established SBA lender and we are here to assist businesses utilize this opportunity.”  

For more information on SBA loan programs, contact Stephen George, Sr. Business Development Specialist.