April 01, 2003


Posted March 15, 2003 President Bush signed legislation in February that will provide small businesses nearly twice the guaranteed loan authority granted under the U.S. Small Business Administration. The legislation, which allows the administration to guarantee an additional $3.4 billion in loans to small businesses this year, is expected to be a boost for veterinary practices. The change is expected to lower the default fees small businesses currently pay on their SBA loans, enabling the administration to boost 7(a) lending authority from $4.8 billion to $8.2 billion for the current fiscal year. The AVMA was part of a coalition of small business associations and the U.S. Chamber of Commerce that pressed Congress for the increased loan auth ...

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