U.S. Small Business Administration (SBA) Deadline For No-Fee Loans Closes In
March 28 is the last day you can apply for the SBA no-fee 7(a) loans.
As part of the American Recovery and Reinvestment Act of 2009, the U.S. Small Business Administration (SBA) made loan enhancements that essentially eliminated fees to borrowers and increased the SBA’s guarantee on 7(a) loans, making it more attractive to lenders to finance this type of loan. These enhancements ended on Feb. 28, but on March 2, President Obama signed legislation that extended those enhancements through March 28. Many people would like to see the enhancements extended through 2010, but Congress has yet to pass legislation that would do so.
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