Small businesses face increased fees.

Position:National
 
FREE EXCERPT

Rather than face a possible service stoppage, the U.S. Small Business Administration has raised borrowing fees on its flagship loan program. The change will result in about $10 more per month in SBA administrative fees.

The SBA increased its guarantee fees:

* 1-2 percent for loans less than $150,000

* 2.5-3 percent for loans between $150,000 and $170,000

SBA spokesman Evan Keefer said calling the recent action an increase of fees is misleading. "What we are doing is returning (the fees) prior to 2002 levels when they were decreased in response to 9-11 and the recession to help small...

To continue reading

FREE SIGN UP