Strategies For Pending SBA Loan Limit Increases - SBA 7(a) $5 Million, SBA 504 $5.5 Million

The SBA Lending Industry will experience major changes once limits are raised for 7(a) and 504 loans. The nations largest SBA lenders and independent community bankers need to know the changes.

Panel:

Erik Daniels, Sr. Vice President & National Sales Manager , U.S. Bank
#2 SBA 7(a) Lender Nationwide
Erik Daniels is senior vice president and national sales manager of U.S. Bank's SBA division. In 2009 U.S. Bank was the #2 SBA lender nationally. Erik has more than 18 years of small business lending experience in the areas of small business and bank consulting, credit, sales management, and division management.

Kurt Chilcott, President & CEO, CDC Small Business Finance
#1 CDC Nationwide
Mr. Chilcott is a board member of NAGGL and a past chairman of the International Economic Development Council and a past chairman of NADCO. For 25 years, he has developed and led innovative and successful organizations and programs in the public and not-for-profit sectors. Under Chilcott's leadership, the San Diego-headquartered CDC Small Business Finance has experienced extraordinary growth in its offices throughout California, Arizona and Nevada.

Larry Hardee, Panama City, FL
Larry Hardee has over seven years experience in the direct selling of SBA loans. Larry Hardee previously was a business development officer for Business Loan Express.

SBA Stimulus II Provisions:
• Increase 7(a) loan limit from $2 million to $5 million
• Increase the 7(a) loan guaranty to a maximum of $4.5 million (90%)
• Increase the SBA 504 loan limit to $5.5 million
• Allow the 504 loan program to refinance short-term commercial real estate loans
• Extend Stimulus I -- 90% 7(a) guaranty and borrower fee waivers -- through December 2010
• Increase the loan limit on microloans from $35,000 to $50,000
• Allow 7(a) loans to be sold

Category:

News & Politics

Tags:

• Coleman
• SBA Lending