In what is breaking news for the Finance world, the Senate yesterday passed a bill that will be very advantageous for the lending environment: A raising of the limits on SBA loans, and some other things. This is significant, as it increases the amount with which the government is willing to guarantee certain loans. It is these specific guarantees that will now incent the banks to lend again — hopefully, opening up the financial and economic bottleneck.
This was truly bi-partisan, and is one of the encouragingly bright moments on the political scene. It must yet pass the House, and President signature, but these are widely expected to happen.
At DonChinnici.com, our lenders have been freely lending for some time; but this is good news, as more money and types of loans will now loosen up.
We will give you more information as we have it.
