Sat 27 Feb 2010
Congressional action on Recovery Act possible.
Posted by Kenny Leonard under Banking, Small Business
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Kenny Leonard
As of right now the funds allocated for the elimination or reduction in certain SBA loan programs are exhausted prior to the February 28th time frame set out in the
original legislation. As I write this post there is hope that Congress will take action this week or next week to extend the Recovery Act provisions, including authority for the higher guaranty (up to 90%), for an additional 30 days, and to provide additional funding to support these initiatives.
There is even further hope that Congress will take up other pending legislation that will extend these provisions through the end of the year.
Please stay tuned for further developments regarding this matter.
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