In SBA and commercial finance news,the return of dreaded guarantee fees (up to 3.75% of the guarantee on 7A loans and 50 BP on the senior 504) has been delayed — so the rush is on yet again to get your guarantee, this time  by 31 May. The Senate  voted to extend the Recovery Act Program through May 31, 2010 and provided $80 million for 7(a) and 504 fee reductions/waivers. It has also extended the 90% guarantee on the 7A  through May 31st. It is expected that President Obama will quickly sign this legislation into law.

The first 504 pool should be ready to roll by the end of May — SBA is in last minute talks with Colson, the master servicer.  Stay tuned!