Fri 16 Apr 2010
President Signs Bill Extending Funding to Reduce or Eliminate Fees for SBA Loan Programs
Posted by Kenny Leonard under Small Business
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Kenny Leonard
Late last night the Senate and House passed — and President Obama signed — a bill (H.R. 4851) that among other things extends through May 31 funding to reduce or eliminate fees under the Small Business Administration’s 7(a) and 504 loan programs or until the funds are exhausted. The Senate passed the bill by a 59-38 vote, and House approved it two hours later, 289-112.
This is the fourth extension of the funds allocated to reduce or eliminate fees related to the SBA loan programs.
All of our trade publications still seem to hint that these extensions will be made through the end of the calendar year. Legislation has been proposed to do so and final House and Senate action is still pending.
For more information please read:
- http://money.cnn.com/2010/04/15/news/economy/senate_extends_unemployment_benefits/index.htm?hpt=T2
- http://www.prnewswire.com/news-releases/landrieu-praises-extension-of-important-recovery-act-lending-provisions-91002419.html
Source: American Bankers Association
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