SBA restores lender fees for 7(a) loan program

SBA restores lender fees for 7(a) loan program

The U.S. Small Business Administration (SBA) announced that it will restore lender fees to its 7(a) loan program to address financial challenges that led to a budget shortfall. This decision follows a period where lender fees were waived, and underwriting criteria were adjusted, resulting in the program operating at a negative cash flow for the first time in 13 years. The 7(a) loan program is the SBA’s primary tool for providing capital to small…