1) raises the lending cap from $2 million to $5 million;
2) increases the government guarantee from 75% to 90%;
3) Waives fees.
For those prospective buyers who are hoping to utilize SBA financing to fund acquisitions, we strongly encourage you to secure a commitment letter prior to year-end. New legislation will be required in 2011 in order to maintain these more generous lending terms under the SBA program.
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