SBA to Wave Fees in 2015
By: Jonathan M. Lamb
The SBA announced it will continue to wave fees for 7(a) loans under $150,000 and SBA Express loans from $150,000 to $350,000 that are made to veterans. Money saving measures are always great for our clients, however loans under about $250,000 to $350,000 still remain one of the most challenging loan size that we see. With the SBA process there is a large amount of administrative work and most lenders choose not to lend under $250,000 to $350,000 as they find it difficult to receive the ROI they can achieve on larger loans. The SBA still remains the best choice for most of our young and start-up companies that don’t have the business credit or business banking history to qualify for traditional commercial lending products. For more information on SBA programs visit the SBA website at www.sba.gov .