SBA to Reduce Loan Guarantees in 2012

SBA Lending in 2012 Gets a Haircut - Entrepreneur
There isn't much business owners will miss about the last couple of years, except for perhaps the Small Business Administration's beefed-up loan guarantee program. In 2009 and 2010, the Small Business Administration was able to temporarily eliminate loan fees and increase loan guarantees to 90 percent for certain loans. The moves were part of the American Recovery and Reinvestment Act of 2009, the Small Business Jobs Act of 2010 and subsequent extensions. By 2011, the program had ended, but interest in SBA lending remained heightened during the first quarter. . . . keep reading about Small Business Lending

If your small business is in need of a loan NOW is the time to seek the capital you need.  Commercial Capital continues to offer small businesses SBA financing while many banks have been reluctant to do so.  We are direct SBA 504 lenders  and have over 150 different lending sources.  Let Commercial Capital help you find the capital you need to grow your business.  We can get deals closed. Our Company Mission Statement is this, "Commercial Capital brings funding sources from around the country to the local business owner and investor to help keep this economy moving!" WE ARE SERIOUS ABOUT IT.

Visit us at http://CommercialLendingPros.com for more information or submit a loan scenario for pre-approval at http://www.CommercialLendingPros.com/102/325

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SBA Announces ARRA Wind down Plan for 504 and 7(a) Programs

The Small Business Administration has announced plans to simultaneously wind down the temporary reduction of fees for the 504 and 7(a) programs and bring both back programs to pre American Recovery and Reinvestment Act (ARRA) terms.

The transition period for the fee reductions begins on Nov. 23, 2009.

Once effective, applications for new 504 loans may be submitted either:

As Recovery Act loans, which means applications will be placed in a queue to await the potential availability of ARRA fee reduction funds; or As non-Recovery Act loans, which will be authorized as soon as approved, but will not be eligible the fee reductions. 504 applications submitted as Recovery Act loans will be processed up to the point of approval and then will be placed into a queue awaiting the availability of funds. Sometimes previously approved loans are later cancelled or never disbursed for a variety of reasons. The queue takes this into account and will allow eligible small businesses, in consultation with their lender, to choose to be placed in this queue for possible approval if funding becomes available.

At any time while waiting in the queue, a 504 applicant may choose to withdraw and re-submit as a non-Recovery Act loan.

The fee eliminations for the 504 program have helped jumpstart more than $14 billion in lending to small businesses nationwide and increased the SBA’s average weekly loan volume by more than 75% since February, according to the SBA.

The SBA is now working closely with President Obama and Congress to ensure the continued recovery of small businesses, including legislation that will increase the cap on 504 loans to $5 million for standard small businesses and $5.5 million for small manufacturing businesses. 504 loan caps are currently set at $1.5 million ($2 million if a public policy is met) and $4 million, respectively.

The proposed shift to $5 million for standard small business borrowers would support a total project of $12.5 million, and to $5.5 million for small manufacturers would support a total project of $13.75 million, according to the White House and the SBA.

Click here to download SBA Notice 5000-1131 ARRA Wind down Transition.pdf.

For more information about 504 loans contact Commercial Capital Lmiited by
visiting http://www.commerciallendingpros.com/, emailing us at
loans@commerciallendingpros.com or calling 863.298.8900.

Visit the link below to get a Quick response to your Commercial Loan Scenario. Simply provide us with some VERY BASIC information: Quick Loan Pre-Qual form