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The Golden Age of SBA Lending

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Uploaded on Oct 6, 2010

Kent Hoover, Washington Bureau Chief, American City Business Journals, said this is the "Golden Age" of SBA lending because of the uncertainty of what will happen to SBA loan guarantees and reduced fees at year's end.

Bob Coleman, Editor of the coleman Report, interviewed Kent Hoover on October 1, 2010 at Coleman's "WHAT THE SMALL BUSINESS LENDING BILL MEANS TO YOU" Webinar.

Bob Coleman: Tell me what happens if the Republicans take control of the House. How does that impact small business lending?

Kent Hoover: I would say go ahead and get your SBA loan right now. Well, I don't think the 90 percent guaranty or the lower fees will be extended again if Republicans take control. I don't know if they would be extended again anyway. If you're looking for an SBA loan, this could be the golden age, these next three months. We'd only have to look back to during the Bush administration when the policy was no subsidy for 7(a) loans. And with a tightening, with much more attention being put upon controlling the deficit and finding ways to cut spending, there very well could be a push again for that.

Kent Hoover
American City Business Journals
Washington Bureau Chief
Washington D.C.

Kent Hoover has been the Washington bureau chief for American City Business Journals since 1999. He was named one of the 30 most powerful voices for small businesses in Washington by Fortune Small Business magazine in 2000 and one of 19 "Best Friends in D.C." for small businesses by Inc. magazine in 2006. He served as editor of Washington Business Journal from 1997 to 1999, and before that, as editor of Orlando Business Journal from 1991 to 1997. He started his business journal career at the Atlanta Business Chronicle as special report editor from 1986 to 1991. Before that, he worked for daily newspapers around the Southeast. Hoover is a 1977 graduate of Duke University who majored in history. He and his wife, Kate Butler, live in Arlington, Va. He is a native of Kingsport, Tenn.

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