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Our blog is a great place to start learning about the SBA and their programs.
SBA NEWSFLASH - 07-01-2011
Midsize Is Now a Fit for SBA
Did you know that the U.S. Small Business Administration has changed how it defines a small business? Now a qualifiying business with up to $15 million in net worth, regardless of sales volume, and average after-tax earnings of up to $5 million for the past two years is considered "small" by the SBA.
Middle-market companies historically exceeded the size standards for SBA financing. But legislation recently passed by Congress changed that. In addition, the new legislation, called the Small Business Jobs Act, increased the size of commercial real estate projects that can be financed under the SBA 504 loan program.
SBA NEWSFLASH - 10-30-2010
Key provisions in the Small Business Jobs and Credit Act (H.R. 5297) include:
Lending:
• $30 billion small-business lending fund. The legislation creates a $30 billion fund to encourage small-business lending by banks with under $10 billion in assets. Banks that make more small-business loans pay a lower dividend on the money they borrow than banks that don't. The fund is expected to leverage $300 billion in lending to small businesses.
• SBA general business 7(a) loans. Extends through 2010 the 90 percent guarantee level and waived borrower fees first enacted in the 2009 stimulus. Also permanently raises the maximum loan size to $5 million from $2 million.
• SBA 7(a) Express loans. The bill would temporarily - for one year from the date it is enacted - raise the maximum loan size to $1 million from $350,000.
Taxes:
• Capital gains exclusion. Temporarily increases to 100 percent the capital gains exclusion for stock issued by some small businesses from the time the bill is enacted through the end of the year. The gain is limited to 10 times the original investment or $10 million, whichever is greater, and is not subject to the alternative minimum tax.
• Bonus depreciation. Restores through 2010 the generous 50-percent first-year depreciation for some kinds of property. Bonus depreciation was originally enacted in the first stimulus bill and in place for 2008 and 2009.
• Start-up deduction. Increases, for 2010, the deduction for start-up expenditures to $10,000, from $5,000, and raises the cap on expenditures that triggers a phase-out of the deduction to $60,000, from $50,000.
SBA NEWSFLASH - 09-30-2010
The SBA continues to participate in stimulus recovery funding. Commerical ventures such as hospitality continue to prove to be good risk models and employ significant operational benefits for owner/operators. The pride owner/operators can find participating in our nations economic recovery is a nice side benefit.
SBA NEWSFLASH - 04-20-2010
The SBA Recovery Act provisions were just extended until May 31, 2010 so act fast to get your loans in for approval.
SBA NEWSFLASH - 03-26-2010
SBA Fee Elimination extended
WASHINGTON, March 26 /PRNewswire-USNewswire/ -- The SBA Fee elimination which expires on March 30th has been extended until April 30th or until the allocated funds exhaust, which ever is the earliest.
SBA NEWSFLASH - 03-02-2010
Senate Temporarily Extends Recovery Provisions
WASHINGTON, March 2 /PRNewswire-USNewswire/ -- U.S. Senate Committee on Small Business and Entrepreneurship Chair Mary L. Landrieu, D-La., today praised the Senate's temporary extension of two important provisions enacted in the American Recovery and Reinvestment Act: increased government guarantees and eliminated fees on small business loans. The programs were extended for 30 days.
"Despite the repeated opposition from one Republican senator, it is good that this vital bill has passed. In addition to extending basic benefits for out-of-work families, the bill temporarily extends successful Recovery Act provisions. The increased government guarantees and eliminated fees have worked - adding $18.2 billion in lending to more than 40,000 small businesses and small businesses have reported that the provisions will save or create more than 500,000 jobs. Extending these important provisions is a good first step to providing our small businesses with the tools they need to keep their doors open and grow. I look forward to working with my colleagues in the Senate to ensure these programs receive a longer extension."