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U.S. bank to pay some fees for real estate borrowers; SBA increases burden on lenders and customers.

Publication: San Diego Business Journal
Publication Date: 28-FEB-05 		Format: Online - approximately 751 words
Delivery: Immediate Online Access

Article Excerpt
Attempting to maintain its profile as a major small-business lender, U.S. Bank said it would pay the guarantee fees for real estate borrowers in its Small Business Administration 7(a) program.

Starting this year, the SBA raised the fees charged on 7(a) loans because the federal agency shifted the operating costs for the program to lenders and borrowers. The fee increases range from 0.25 percent to 1 percent of the loan.

The 7(a) loans can be used for construction or expansion, working capital, or the purchase of buildings and equipment. The loans are made by banks but 75 percent of the principal is guaranteed by the federal SBA.

U.S. Bank, the fifth...

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