On September 27, 2010, President Obama signed into law the Small Business Jobs Act which provides critical resources to help small businesses grow and add jobs. The following is a summary of the benefits of the program. It is not all inclusive. For a more complete list of benefits click here. The new law puts more capital into the hands of entrepreneurs by extending the SBA 90% loan guarantee and reduced fees through December 31. Higher loan limits are in place for most businesses going from $2 million up to $5 million. The law expands the number of businesses eligible to receive SBA assistance by increasing the net worth guidelines to $15 million and average net income guidelines to $5 million. SBA Express loans can be processed now up to $1 million. For more information contact Vickie Karickhoff, Business Analyst for the Pierpont Community & Technical College SBDC in Buckhannon at (304) 439-1290 or v.m.karickhoff@wv.gov.
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