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SBA Spared In Budget Cuts

Good news for small business owners and people involved with SBA lending. 

The SBA was largely spared in the budgetary battles that were just negotiated in DC .  And the $25 million in cuts that were voted in by the House in February where reversed.  In the end, the House and Senate restored the appropriation to the SBA to  $433 million. The SBA programs are financed through a separate account, which also retained its 2010 funding of $236 million.

Deeper cuts will likely be coming in 2012, as Republicans saying they want to cut $100 million and Obama proposes to cut $28 million from the organization. 

"They had little choice in keeping the SBA well funded. The SBA continues to be one of the few loan options out there for commercial borrowers.  Commercial lending for small business owners would be mostly non existent if it wasn't for the SBA and this could have drastic effects on the economy" comments Jeff Rauth of Commercial Finance Advisors.