SBA: Should Congress be unable to pass a funding bill...
SBA: Should Congress be unable to pass a funding bill by Ean Lee Bordeaux on Friday, April 8, 2011 at 3:55pm Dear SBA partners, It is still possible that the Administration and Congress will reach a compromise that will avoid a lapse in federal government funding. However, prudent management requires that we plan for an orderly shutdown should Congress be unable to pass a funding bill by the end of the day on Friday, April 8th. Please read this message carefully, as it contains several critical pieces of information. Should Congress be unable to pass a funding bill, the SBA will stop approving all new business loans in the 7(a) and 504 loan programs at 11:59 PM on Friday, April 8. This includes loans submitted under delegated authority. Lenders may continue to submit loans to the SBA, but none will be approved until a funding bill is signed by the President. In the event of a lapse in appropriations, most SBA servicing and liq