Lets get Banks Lending - SBA Loan Guarantee Amount to 90%
As reported by NJBIZ, in an effort to get banks lending again:
Starting today, the U.S. Small Business Administration is raising to 90 percent the federal guarantee on most SBA loans and temporarily suspending a fee that is charged to banks, but passed along to borrowers.
The 90 percent guarantee will be on loans up to $1.5 million. The portion of the loan above $1.5 million, up to the maximum SBA loan of $1 million, will be subject to a lower guarantee amount.
