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New Small Business Bill is Huge

HR 5297 passed the Senate last week.  It will rush through the house and likely be signed into law by President Obama as early as Friday of this week.  This Bill is HUGE for small businesses, the economy and of course my business and no one seems to be picking it up.  It is amazing that the best thing the government has done all year is not being picked up by the media.  SO here is a super quick rundown of just some of the benefits and what they mean to businesses…
There are a lot of little carve-outs in the law regarding extra depreciation on business assets, etc. that I will not get into here.     To keep up to date check me out at www.privatemoneyusa.com I want to focus on a few of the HUGE changes to SBA and commercial lending and what they mean to the marketplace and the economy.
Increase of the guarantee on the SBA 7A loan from 75% to 90%. What it means: The government will guarantee 90% of the losses on an SBA 7A loan if the loan goes bad. Why it matters: Banks can loan out money on the SBA 7A ... more

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