Small Business Owners Still Waiting Hurting
I've been a staunch supporter of the U.S. Small Business
Administration (SBA) for years. I believe that this government agency has done
quite a lot of good for small business owners and our economy, and it continues
to do good in many respects.
Recently, however, I (along with lots of small business
owners and lenders nationwide) have become very frustrated with the progress of
the SBA 504 Refinance Program. This is a program I’ve been arguing for since
2004, when I was first quoted in the Wall Street Journal about it, because it
has the potential to help small business owners and our overall economy during
these “interesting” economic times. Despite the benefits provided by 504 Refis,
the SBA has been slow to stipulate all the regulations and instructions for
using it…and it continues to place tight restrictions on which businesses can
qualify for these refinances.
