$200 Billion Credit Program Could Boost Tulsa

The federal government launches a $200 billion dollar consumer credit program, designed to help spur lending to both small business and consumers.
The plan includes several SBA changes that will give local businesses and banks a shot in the arm, said Regent Bank President Sean Kouplen of Tulsa.
“The proposed SBA Loan Programs will be good for small business as well as banks,” said Kouplen.
Kouplen sites 4 main features of the new government program:
— The SBA’s plan to increase their guarantee from 75 percent to 90 percent on the 7a program which is typically used for operation and equipment financing.
— The SBA is considering a 100 percent guarantee for a $35.000 bridge loans to help SBA clients catch up on past due payments. This will help businesses maintain good credit while not imposing any additional risk to the banks.
— The SBA is considering reducing loan fees which will help both businesses and banks.
— SBA is planning to increase maximum loan amounts for purchasing real estate from $2 million to $4 million, providing banks with more flexibility to finance real estate deals.

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