Colorado representatives seek SBA support
July 6, 2009
By MoneyAisle
The Coloradoan reports that “Colorado representatives are encouraging the Small Business Administration to work with Colorado lenders to extend credit for small businesses hit by the closure of Greeley-based New Frontier Bank.”
Two state senators and a representative want the SBA to “guarantee certain loans and temporarily eliminate fees for borrowers and lenders.”
The changes would have the effect of making loans more affordable to customers and eliminating some of the risk for lenders.