advanced
 
Blogspublic

Mike Kulka's - Kulka's Corner

This is a public Blog  publicRSS

Entry

    mkulka
    Great News from the SBA !
    Entry posted December 28, 2009 by mkulkaElite Contributor, last edited January 19, 2012
    650 Views, 4 Comments
    Title:
    Great News from the SBA !
    Entry:

    This weekend President Obama signed an appropriations bill that contains $125 million dollars to continue the fee subsidies for SBA financing, including the SBA 504 loan program!!  SBA lending has been instrumental in keeping deal flow in some of our best markets.  This will be extended two months from today to February 28, 2010.  

     

    Additional Funding for SBA Recovery Lending Programs will Support $4.5 Billion in Small Business Lending

     http://www.nadco.org/files/public/ARRA-Extension.pdf

    Comment

    • dezovski
      posted December 31, 2009 by dezovskiSuper Contributor

      Mike,

      An interesting development is now occurring.  Many people are finding out that the SBA funding is actually being propped up by the stimulus money and they are upset about it...to the point that some would have not used it had they known.  I am sure this will not be the common thinking, but it does raise an interesting question about the future recipients and their political affiliations.  One really needs to be upset with Mr. Obama to not take money at lower fees and rates.

      Happy New Year Mike.

      Derek

      • mkulka
        posted January 4, 2010 by mkulkaElite Contributor

        From the desperation out on the streets I see with small business looking for credit on the CRE renewals or new purchases I believe most will set aside there differences.  If anything commercial banks actively lending (there are some out there) that do not participate in SBA lending programs should feel the pinch of very unfair lending competition.  The 504 program is tough for a conventional lender to come close to and all on "we the people".

    • kevin
      posted January 3, 2010 by kevinSuper Contributor

      The day I see money minted by the private sector is the day I believe in free markets.   In reality, what ever method is used, if it unclogs the system it sets it free.         

    • dcrocker
      posted January 5, 2010 by dcrockerElite Contributor

      Hi Mike, Great post to start the year off on a positive note.

      Here's a CNN Money article that just came today w/ the latest stats on SBA lending:

      • number of 7(a) loans processed in 4Q09: 12,393 vs 9,070 in 4Q08
      • still far behind pre-recession benchmarks...but these days, what isn't?? (20k+ 7(a) loans in 4Q07)
      • "SBA loans represent a tiny portion of the overall small business lending landscape, but they're an important barometer of banks' willingness to extend credit to startups and growing companies."

      Take care,

      Dianne