As the nation recovers from recession, larger loans have gained popularity but smaller loan rates have lagged, said
In an effort to promote the use of smaller loans, SBA has waived fees on its loan guarantees for loans less than
Since the fee elimination, Independent Community Banks of North Dakota Vice President
"They (SBA) work with our community bankers a lot," Ruud said. "It's another go-to place for them (bankers)."
Ruud said many bankers may already know about SBA program changes but some may not. The presentation is part of ICBND's shift of focus to education at its annual event as its organization grows.
In fiscal year 2013, SBA invested
According to the company's website, Double M now offers oil field transportation support, aerial photography, helicopter utility service, aerial firefighting, pipeline and powerline inspection and various charter flights.
Varilek said SBA has been able to waive the fees because most of the loans it guarantees do not go into default.
Varilek also told the 410 community bankers in attendance about Small Business Investment Companies. SBICs allow banks to be investors in venture capital funds.
SBICs are licensed with the SBA and the agency matches private capital raised at a ratio of 2 to 1. An SBIC that raises
Varilek said SBIC use has been limited in
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