You’ll recall my recent post about the anticipated changes and expansion of small business lending. Now it’s possible that two of the stimulus programs may expire … BEFORE any new ones take their place. This includes the most popular provisions that allowed the SBA to drop their fees and to raise the maximum guarantee to 90%. Moreover, when the stimulus funding is depleted, the guarantees will fall back to 75% on loans of more than $150,000. Stay tuned to see if the much needed financing assistance expected from the SBA gets the support it deserves.
As if there aren’t enough problems qualifying for SBA programs, there’s one more maddening thing with which to contend … the myriad definitions of “small business”. If you’re interested … and can grapple with some of the minutia … you can read more about those crazy definitions here.