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SBA Fees, Covered
City National Bank will pay up to $3,000 in SBA loan fees to help boost its lending to small businesses.
The move occurs as SBA lending has dropped about 70 percent as borrowers wait to see whether Congress will extend measures designed to get banks to make more loans backed in part by the Small Business Administration.Standard loan fees range between 2 percent to 3.75 percent of the guaranteed portion of the loan.
City National said its offer applies to loan applications received by Sept. 10 for money lent under the SBA’s 7(a), 504 and SBA Express programs.
More details on City National's plan to boost SBA lending are available from the San Francisco Business Times.
Mark Calvey writes for the San Francisco Business Times.
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