Senate to "Probably" Extend SBA Stimulus Package
Georgia Senator Johnny Isakson on SBA, Wall Street and Main Street
But when Congress increased the SBA 7(a) guaranty to 90% and waived the borrower fees - that
worked. Loan volume increased.
Is there any appetite to continue that past December, when the funding runs out?
Senator Isakson: I'll give you an interesting answer, I'll say, probably.
When I say probably, there are any number of temporary approvals we've given in any number of
areas.
1) SBA Loans are on The Rebound - LA Times
"It is a viable option to raise additional capital. Obviously banks are concerned about what additional regulatory oversight comes with that," said Brian Carlson, chief executive of Excel National Bank, a Beverly Hills-based community bank and SBA lender with $200 million in assets. But access to additional capital doesn't guarantee a community bank will find significantly more small firms that qualify for loans. Some community banks have enough capital but don't want to make more small-business loans, which many consider higher risk, because they are already struggling with troubled commercial real estate portfolios.
2) SBA Proposes Revision of Size Standards to Expand Opportunities for Small Businesses
The U.S. Small Business Administration is proposing increases in the size definitions for three broad commercial sectors. The proposed increases cover size standards for 71 different types of businesses, two-thirds of them in retail trade sectors. The rest are in accommodations and food services, and other services. The changes, if adopted, will expand eligibility to small businesses and help them gain access to SBA`s financial assistance, contracting and other programs.
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