2/16/2009

SBA Improvements in the Stimulus Bill


Some good news about the SBA 504 program from Charles Randle. If the President signs the proposed stimulus program, we will see the following at least through 2010:
 
* Elimination of the .5% bank participation fee charged to lenders
 
* Elimination of 1.5% CDC fee charged to the borrower
 
* Low-interest refinancing up to 50% of the project
 
* Job creation requirement from current $50,000 to $65,000 per job created
 
* Regular 504 increase from $1.5 million to $3.0 million
 
* Public Policy 504 increased from $2.o million to $3.5 million
 
* Manufacturing 504 increased from $4.0 million to $5.5 million 
 
This proposal certainly is a BIG BOOST for lenders wanting to offer exceptionally low interest rates for their borrowers with a 50 percent loan to value ratio.  Please contact Charles Randle.








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