Rhode Island District Office

 

 

SBA Announces SBA Lender Fees for Fiscal Year 2025

 

WASHINGTON – Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s more than 33 million small businesses, announced fees for FY25 for 7(a) and 504 loan program participating lenders. For the 2nd year in a row, SBA will not charge upfront fees for loans $1,000,000 or less for both 7(a) and 504 loans.

 

Under the Biden-Harris Administration, the SBA, through its commitment to equity, has expanded access to capital for underserved populations through small dollar loans. To continue to encourage small dollar lending, the agency will continue to set zero or extremely low fees for small dollar loans, including no fees for loans $500,000 or less in its flagship 7(a) program. SBA further announced its 7(a) Working Capital Pilot (WCP) program will charge no upfront fees for loans $1,000,000 or less and no annual service fee for loans $500,000 or less.

Please see the 7(a) Fee Notice, 504 Fee Notice, and Working Capital Pilot (WCP) Fee Notice for more specific information on FY25 fees.

Visit SBA’s Lender Match page if you would like to be matched with participating SBA Lenders that can provide you with funding at competitive rates and fees.

A key report shows wholesale inflation slowed last month. The July Producer Price Index shows a rise of zero-point-one percent. The PPI measures prices that businesses receive for goods and services. Economists had been expecting a slightly higher increase, according to a survey by the Wall Street Journal.        Over one-point-three million people tuned into Elon Musk's conversation with former President Trump on X last night. Some technical issues delayed the conversation, but the pair still spoke for over two hours. They discussed the attempted assassination of Trump in Pennsylvania, immigration, Russian President Vladimir Putin, the threat of global warming, and more.        Voters are heading to the polls for primary elections in Connecticut, Minnesota, Vermont, and Wisconsin today. In Minnesota, progressive Congresswoman Ilhan Omar will defend her seat against former Minneapolis City Council member Don Samuels. The contest comes after two other members of the so-called progressive "Squad," Jamaal Bowman and Cori Bush, lost their Democratic primaries this cycle.        Tropical Storm Ernesto isn't expected to hit the U.S. mainland as it heads up the Atlantic Ocean. Current forecasts show the storm will bring heavy rain and flooding to Puerto Rico and Virgin Islands today. The National Hurricane Center says Ernesto will then head northward and into the Atlantic.        A former Colorado clerk is facing up to 22 years in prison for election tampering. Tina Peters was convicted yesterday and will be sentenced in October. Prosecutors argued she let an unauthorized person access Mesa County's voting equipment in 2021 and make a copy of hard drives, as well as pictures of passwords, and then tried to cover it up.        U.S. gymnast Jordan Chiles will not have her appeal heard by the Court of Arbitration for Sport. On Sunday, the International Olympic Committee said it would take away her bronze medal because of a scoring error. Monday, USA Gymnastics said in a statement that it was notified that CAS rules don't allow for an arbitral award to be reconsidered.