On the heels of completing final approvals of loans to nearly 2,000 firms that has been in its loan queue waiting for final approval of the Small Business Jobs Act, the U.S. Small Business Administration has finished implementation of another major element of the bill: increasing maximum sizes in several of its loan programs. The changes -- effective today -- are permanent for general small business loans under SBA's 7(a) guaranteed loan program, fixed asset loans through the 504 Certified Development Company program, Microloans, and International Trade, Export Working Capital and Export Express loans. A temporary increase for SBA Express loans is good for one year. . . . keep reading
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Showing posts with label SBA loan. Show all posts
Showing posts with label SBA loan. Show all posts
Friday, October 8, 2010
Tuesday, September 14, 2010
Bill to Aid Small Businesses Advances in Senate
WASHINGTON — The Senate advanced legislation to aid small businesses on Tuesday after months of Republican resistance.
President Obama strongly supports the bill, which would provide loans and tax breaks to small businesses, and its swift enactment seems assured.
President Obama strongly supports the bill, which would provide loans and tax breaks to small businesses, and its swift enactment seems assured.
Two Republican senators, George V. Voinovich of Ohio and George LeMieux of Florida, joined Democrats in clearing a procedural hurdle for the bill by a vote of 61 to 37. That vote all but assured that the Senate will pass the bill later this week, and the House is expected to then put its final stamp of approval on the measure without delay. Read Full Story
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Commercial Capital Ltd.
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Fax: 863-877-4456
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Monday, August 9, 2010
Obama Calls on Congress to Pass Small-Business Legislation
As reported By CNN, President Obama used an appearance at a small business in Washington to again call on Congress to pass small-business legislation that he says will help strengthen the American economy.
The Small Business Jobs and Credit Act is stalled in the Senate.
"It is so important to pass this jobs bill for America ' s small businesses. That' s where most of our jobs are created. And small businesses have been especially hard-hit by the economy," said Obama, speaking at Gelberg Signs.
The bill would authorize the creation of a $30 billion lending fund. The Treasury Department would run the program, which would deliver ultra-cheap capital to community banks, defined as those with less than $10 billion in total assets.
Other key components of the bill would provide $12 billion worth of tax relief for small businesses between 2010 and 2020, according to a preliminary estimate from the Joint Committee on Taxation. The bill also would increase Small Business Administration loan limits and extend loan sweeteners through the end of the year. Full Story
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Commercial Capital Ltd.
Tel: 863-298-8900
Fax: 863-877-4456
Your #1 Source For Commercial & Business Financing
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