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.

President Trump says the tariffs imposed on other countries are having the desired effect, and he's now open to negotiations. Speaking to reporters aboard Air Force One, Trump said his initial tariff plan is over, and he's watching it settle in. He said every country has called, asking to cut a trade deal with the U.S. to avoid the tariffs.        Stocks are closing sharply lower one day after President Trump announced sweeping global tariffs. The S&P 500 had its worse day since 2020 as the White House announced a baseline tariff rate of ten-percent against most countries yesterday that will go into effect on Saturday. At the closing bell, the Dow Jones Industrial Average fell by 16-79 to 40-545. The S&P 500 lost 274 points to 53-96. The Nasdaq lost 10-50 points to 16-550.        A multi-day severe weather event is unfolding for more than 55-million people. It comes after at least seven people were killed in the South Central U.S. after storms that included several tornadoes hit the region yesterday. Tonight, there is still a tornado threat for the same areas, but forecasters warn there could also be potentially catastrophic flooding in the Mid-South and Midwest.        The Federal Aviation Administration is offering more support to air traffic controllers at Reagan National Airport. The Critical Incident Stress Management team will be meeting with airport personnel sometime early this month. The FAA is also reviewing the arrival rate at the airport and will conduct regular wellness checks.        The Senate has confirmed Dr. Mehmet Oz as administrator of the Centers for Medicare and Medicaid Services. The television personality was confirmed on a party-line vote of 53-45. Oz now assumes a role that provides health insurance to roughly 160 million Americans.        Steven Spielberg and George Lucas top the latest Forbes list of celebrity billionaires. The latest Forbes ranking of the world's wealthiest people includes 18 celebrities, with film director Steven Spielberg topping the list at five-point-three-billion dollars. Star Wars creator George Lucas is in second place with a net worth of five-point-one-billion dollars.