Shaheen seeks to boost SBA Express loan maximum


Legislation aimed at increasing the maximum value of individual loans in the U.S. Small Business Administration’s SBA Express loan program ahs been introduced by U.S. Sen. Jeanne Shaheen, D-N.H.According to Shaheen, who said the Express loans are used more frequently by New Hampshire banks, the legislation (S. 2808) calls for increasing the maximum loan value to $1 million and increasing the guarantee to 75 percent for two years.“Small businesses create jobs and stimulate local economies, and providing business owners with access to capital will help them get through the recession,” said Shaheen.Currently, the maximum value of an Express loan is $350,000, with a 50 percent guarantee from the SBA. Shaheen’s legislation calls for increasing the Express cap to $1 million and temporarily increasing the guarantee to 75 percent for two years. -- JEFF FEINGOLD/NEW HAMPSHIRE BUSINESS REVIEW
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