TITLE

7(a) Lenders See a New Threat in SBA Budget

AUTHOR(S)
Reosti, John
PUB. DATE
February 2006
SOURCE
American Banker;2/16/2006, Vol. 171 Issue 32, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article discusses lenders' reaction to the Small Business Adminstration's (SBA) budget proposal and the provision that allows the SBA to use lender fees to pay administrative costs. Lenders are worried that it will open the door to unlimited fee raising and that the government will end up having lenders fund the entire program. Terry Jorde of CountryBank USA and Rep. Nydia Velázquez believe that this President George W. Bush's backdoor plan to get rid of the SBA.
ACCESSION #
19827154

 

Related Articles

  • N.Y. Lawmaker Rips Quarterly 7(a) Drop. Reosti, John // American Banker;1/10/2006, Vol. 171 Issue 6, p5 

    This article reports on preliminary figures for the U.S. Small Business Administration's (SBA) flagship 7(a) lending program indicating that the agency guaranteed fewer loans for less money during the October-to-December 2005 quarter than it did a year earlier, according to Rep. Nydia M....

  • The Shrinking SBA Budget Doesn't Faze Many Firms. Pethokoukis, James M. // U.S. News & World Report;2/27/2006, Vol. 140 Issue 7, p38 

    This article discusses the effect of budget cuts to the Small Business Administration (SBA). Rep. Nydia Velázquez calls President George W. Bush's cuts and fees increase an assault on U.S. entrepreneurs. Many member of the National Federation of Independent Business believe that the cuts...

  • Congress Expected To Miss 7(a) Fee Deadline. Reosti, John // American Banker;9/27/2004, Vol. 169 Issue 186, p1 

    Reports that Congress is expected to miss an October 1 deadline to keep lender fees associated with the Small Business Administration's 7(a) loan guarantee program from jumping by 40% to 100%; What will happen if Congress misses the deadline and how it will add thousands to dollars to the cost...

  • Changes Sought for SBA In Obama Administration. Flitter, Emily // American Banker;12/11/2008, Vol. 173 Issue 238, p5 

    Small Business Administration (SBA) lenders are anxious to have U.S. President-elect Barack Obama and his administration installed on January 20, 2009 because they are counting on the new administration to help the agency win back all the small banks that have stopped making SBA loans. Although...

  • Long-Shot Try on SBA. Reosti, John // American Banker;4/28/2005, Vol. 170 Issue 81, p1 

    Reports that U.S. Representative Nydia M. Velazquez of New York has introduced a bill that would reverse the sweeping changes made to the Small Business Administration's (SBA) 7(a) loan program in 2004. How Velazquez claims that the increase in user fees that resulted from the 2004 changes led...

  • UNITED NATION. Kurlantzik, Joshua // Entrepreneur;Feb2005, Vol. 33 Issue 2, p32 

    Interviews Arizona Republican congressman Rick Renzi and New York Democratic congresswoman Nydia Velazquez. Major concerns of voters and small businesses; Outlook for the Small Business Administration and its loan programs; Responsibility of each political party in terms of partisanship.

  • Senators Blast Cuts in SBA Loan Program. Gordon, Jennifer // American Banker;5/2/2001, Vol. 166 Issue 84, p4 

    Reports that senators in the United States have criticized the reductions in the U.S. Small Business Administration's (SBA) loan program proposed by President George W. Bush. Concerns that the cuts would deter banks from making guaranteed loans under the agency's 7(a) program; Claims by the...

  • SBA equipment loans get green light.  // Dental Practice Report;Apr2004, Vol. 12 Issue 3, p10 

    Reports on the approval of U.S. President George W. Bush on a bill that keep the 504 loan program active of the Small Business Administration. Role of the 504 loans to help small businesses acquire real estate and equipment; Need of a legislation by the administration to continue collecting the...

  • Critics Say SBA Fix for Shortfall No Solution. Duran, Nicole // American Banker;2/20/2002, Vol. 167 Issue 34, p4 

    Reports the impact of the budget program of U.S. President George W. Bush on the Small Business Administration (SBA) flagship loan guarantee program. Assessment on the constraints imposed by the fiscal 2003 budget; Personal views of Administrator Hector Barreto of the agency on the business...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics