LESSONS FROM THE SBA LOAN PROGRAM SHUTDOWN

Last week, the U.S. Small Business Administration shut down its 7(a) loan program again, leaving thousands of small business owners scrambling to finance a wide range of business projects. This shutdown was swiftly overturned, as Congress approved an increase in the 7(a) program cap to $23.5 billion for the remainder of this current fiscal year. That’s $4.75 billion more than the current ceiling that had effectively been hit, necessitating the shutdown. President Obama quickly signed the bill into law. Crisis averted. Or is it?  read more… Source: Fountainhead Commercial Capital.