Proposal would increase the SBA loans budget, expand programs, and lower fees on 7(a) and 504 loan programsThe 2008 budget for the U.S. Small Business Administration (SBA) was released today. The proposal would increase SBA loans by 40 percent over business lending in 2006. Overall it's an increase of 5% for programs and 12% for operating budget.
The proposal would add more than $1 billion more for SBA loans in the disaster assistance program which has approved loans for over 98 percent of applicants. They also want to reach out to veterans, lower income loan applicants, and the underserved.
In recent years the SBA has reported giving less loans, and they want to increase financing for small businesses.
The proposal also includes more funds for small Business Development Centers, Women’s Business Centers, and SCORE.
This is good news after years of SBA budget cuts. The budget, if approved would go into effect in October for fiscal year 2008.Technorati Tags:
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