RECENT UPDATES TO THE SMALL BUSINESS JOBS ACT OF 2010

On September 27, 2010, President Obama signed the Small Business Jobs Act of 2010 (the "Small Business Jobs Act"). This legislation provides an additional $505 million to the Small Business Administration to support as much as $14 billion in lending to small businesses. These funds are available to provide fee relief for new 7(a) and 504 loans under Sections 501 and 502 of the American Recovery and Reinvestment Act of 2009 (the "Recovery Act"). In addition, this legislation extends the authority for SBA to provide a higher guaranty on eligible 7(a) loans to December 31, 2010. Click on the link below to read an interview Bertke and Sparks, Inc. recently had with Mark Steinberg of Access Business Development and Finance regarding the benefits and guidelines of SBA loans.

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