WASHINGTON, DC-Two separate but related events are nearing theirrespective finish lines, with the end result being a greater impacton commercial real estate than some observers might haveexpected.
One event is the passage of the small business legislation inCongress last week, which was signed by President Barack Obama onMonday. The Small Business Jobs Act is intended to make creditavailable to small and mid-sized businesses as well as extend taxbreaks for the purchase of capital goods. It includes a $30-billionfund run by the Treasury Department, which is meant to boostlending among community banks and small business.
The act also eliminates fees charged for Small BusinessAdministration loans--namely SBA 7(a) and 504 loans through the endof the year. It also increases SBA 7(a) loan limits from $2 millionto $5 million; SBA 504 loans from $1.5 million to $5.5 million; andSBA 7(a) Express Loans from $350,000 to $1 million.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
