The SBA Changes The Rules And Possibly Encourages Job Creation

In a move that will likely make the SBA loan guarantee program more accessible to Main Street, acting Administrator Hulit removes fees from loan amounts of $150,000 or less. The SBA announced this change at the end of September, before the shutdown, as part of an annual review of the fees they charge lenders and borrowers. The purpose of this Notice is to announce a reduction in the FY2014 yearly fee (also known as the 'on-going guaranty fee' or the 'annual service fee' for all 7(a) loans and a ...