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SBA Extends Loan Fee Reductions And Waivers Another Year


SBA Loan News From Peter SiegelThe SBA has moved expiration of the fee cuts and reductions associated with its loan programs to September 30, 2015, the end of the Government's current fiscal year.  The benefits had been scheduled to expire at the end of last month. Affected are the SBA 7(a) loan programs which provide funds for the purchase and expansion of small businesses throughout the country.

The elimination of upfront guarantee and annual servicing fees will remain in place for loans of $150,000 and less. Discounted annual servicing fees of 0.519 percent of the guaranteed portion of the outstanding balance will remain for loans larger than $150,000. Upfront guarantee fees for these larger loans will vary depending on the amount and the maturity of each loan. The Agency's Veterans Advantage loans (SBA Express loans to veterans) in amounts from $150,000 to $350,000 have been provided with no upfront guarantee fee since the beginning of this calendar year and will continue to be available without fees until the end of fiscal 2015.

"We don't want SBA fees to be an impediment to getting capital out to communities where it can make a game-changing difference, especially to our underserved communities who use these small dollar loans more frequently," according to SBA Administrator Maria Contreras-Sweet. She added,  "We also owe a debt of gratitude and so much more to our service men and women and veterans who are the cornerstone of small business ownership."

The agency says that through September 12, it saw a boost of 23.4 percent in the number of $150,000-and-under loans guaranteed, compared to the same period in the previous fiscal year. Dollar value of those loans increased 30 percent to $1.74 billion in the same year-to-year comparison period.

The SBA does not loan money directly to small businesses. Instead, it guarantees a large portion of loans made, according to the agency's guidelines, by financial institutions in the SBA lending network. That means the Agency will reimburse a lender for much of the loss resulting from any default on one of its loan programs.

Peter Siegel, MBAAbout The Author: For over 25 years Peter Siegel, MBA has provided niche business purchase financial advisory and loan brokerage services with SBA Loans, Non-SBA Loans, Retirement Plan Conversions, Hard Money, Bridge Financing, Note Restructures, etc. He assists with financing for: Business Purchases, Business With Real Estate Purchases, Franchise Resale Purchases, New Franchise Purchases, Pay Off Existing Seller Notes, Partner Buyouts, Employee Buyouts. Peter Siegel can be reached direct toll free at 866-270-6278 regarding getting professionally pre-qualified, advisory & loan placement service


Categories: BizBen Blog Contributor, Business Purchase Financing, Buying A Business, Deal And Escrow Issues, How To Buy A Business, Small Business Financing



  Helpful Resources To Assist In Selling And Buying California Businesses
Mark Chatow, Esq.: Legal Services For Buying, Selling Businesses

Mark has a broad range of small business purchase & sale experience from analyzing potential acquisition targets to successfully guiding buyers and sellers through the purchase & sale of small businesses. Mark can assist with contracts, negotiations, legal matters, etc. Reach Mark at 949-478-8393.

Helen Yoo: Escrow & Bulk Sale Services - Southern California

New Century Escrow, Inc. is a fully licensed & bonded independent escrow company. Over 20 years combined experience in handling bulk escrow transactions. Multi-lingual staff that speaks your language, including Korean, Chinese, Vietnamese. Call Helen Yoo direct at 626-890-1151.

Brad Steinberg, Broker - Laundromat Specialists

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Willard Michlin, CPA, Certified Fraud Examiner, Due Diligence Services

Willard Michlin, CPA #106752, offers buyers step by step training & assistance in doing Due Diligence Services when they are thinking of making an offer, or are in process of investigating a business purchase. He helps to determine the actual net profit even when there is cash. Call 805-428-2063.

Joe Sandbank, Esq. - Legal Services

I have provided legal counsel to business buyers, sellers and brokers for over 17 years. With prior experience as a business broker and SBA loan officer, Joe brings both a practical and legal approach to all aspects of the business acquisition process.

Elizabeth McGovern: Escrow Services - SF Bay Area

McGovern Escrow Services, Inc., is a leading independent escrow company. We are a trusted partner with our clients, assisting them through the tangled bulk sale & liquor license transfer process. We provide attentive, quality & innovative customer service. Phone Elizabeth McGovern at 415-735-3645.

Diane Boudreau-Tschetter: Escrow And Bulk Sale Services

California Business Escrow, Inc. is a full service independent escrow company serving all of California and has expertise in a wide range of escrows. Our team prides itself on providing an exceptional escrow experience. For more info phone Diane Boudreau-Tschetter at 888-383-3331 or 209-838-1100.

Ranvir S. Sandhu, Esq. - Legal Services For Buyers And Sellers

I've worked at top Bay Area law firms and have extensive experience with business entity formation, mergers, dissolutions, conversions, employment matters, including experience in reviewing and negotiating transactional documents such as leases and purchase agreements.


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