The Small Business Administration will host an online chat at 11 a.m. tomorrow about how small companies can cash in on the economic stimulus legislation.
SBA Associate Administrator Eric Zarnikow will host the chat.
Participants can go to www.sba.gov and click on the Online Business Chat icon. Questoins can be submitted there.
As a result of the legislation, the SBA has increased its government guarantee on its flagship 7(a) business loans and temporarily eliminated fees on these loans. Fees also have been eliminated on loans made through its 504 program, which primarily finances real estate.
The SBA also is in the process of creating new programs as a result of the bill, including bridge loans of up to $35,000 for small businesses having trouble making payments on existing loans.