If you are interested, you can chat with the Associate Administrator of the SBA online Thursday, March 19, at 11 a.m. MDT on what the federal economic stimulus legislation means for small businesses.
Chat participants can go to the SBA national website, www.sba.gov, and click on the Online Business Chat icon. You can then type in a question and submit it to be answered during the chat.
As a result of the legislation, the SBA has increased its government guarantee on its flagship 7(a) business loans and temporarily eliminated fees on these loans. Fees also have been eliminated on loans made through its 504 program, which primarily finances real estate.
The SBA also is in the process of creating new programs as a result of the bill, including bridge loans of up to $35,000 for small businesses having trouble making payments on existing loans.
Sam Thacker is a partner in Austin Texas based Business Finance Solutions.
You may contact Sam directly at: firstname.lastname@example.org
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EXTRA: If you have questions for Sam regarding business financing, the credit market, and similar issues, please send an e-mail. Your questions will be recorded and Sam will answer the best ones in his Ask the Expert podcast show.