SBA and the Recovery Act

On November 23, 2009, the SBA began the transition period from two of its Recovery Act programs. The funds made available from the Recovery Act eliminated the upfront guaranty fee for loans with maturities greater than 12 months as well as provided higher SBA guaranties to lenders for most 7(a) loans. The SBA Recovery Loan Queue has information about what this might mean for your small business loan.  Jim O'Connor, SBA's manager of online training, and Eric Zarnikow, associate administrator of SBA's Office of Capital Access, have produced a video that also provides information about the loan process.