U.S. Small Business Administration lenders and small businesses should be happy with the SBA’s budget proposal for 2014, Washington Bureau Chief Kent Hoover recently reported.
Under SBA’s budget proposal for next year, the agency is asking for fees to be reduced for banks that make 7(a) loans and fees to be waived for lenders and borrowers on loans of less than $150,000.
With not enough small-dollar loans available to small businesses, eliminating fees on the loans will make them more attractive, Hoover reported.
