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SBA Makes it Easier for Small Businesses to Get a 7a Loan
For those of you looking for some good news in this economy, here’s one. SBA has temporarily eliminated the upfront guaranty fees on eligible SBA 7A loans until the SBA exhausts the funds dedicated to the Recovery Act (estimated to be $8.7 billion) or on loans approved through approximately December 31, 2009. (Please be aware that the SBA ÂĽ point guaranty fee for loans with maturities of 12 months or less will continue to apply.)
The money be used for:
- Purchase, construction or expansion of owner-occupied real estate.
- Purchase of machinery, equipment, furniture, fixtures and leasehold improvements.
- Business acquisition or partner buy-outs.
- Debt refinancing.
Why you should consider an SBA loan:
- Need longer amortization to afford note payments (up to 25-year note and amortization).
- Cannot afford higher down payment requirements (as little as 10% down).
Seminar: How to Do Business with the City of Houston
| November 25, 2008 | ||
| 10:30 am | to | 12:00 pm |
A seminar for business owners wanting to learn the ins and outs of doing business with the City.
Where:
City Hall Annex
900 Bagby, Tunnel Level, Conference Room #1
Houston, TXÂ 77002
For more information, to register for the class, or if you are a person with a disability and need a reasonable accommodation, please call the City of Houston’s Mayor’s Office of Affirmative Action and Contract Compliance at 713.837.9043 (Relay Texas 1.800.735.2989 or 7.1.1). You may e-mail your registration by sending your name, company name, address, telephone number, and the name of the class to Juan Padilla at juan.padilla@cityofhouston.net. We cannot ensure the availability of appropriate accommodation without prior notification.