Benetrends Financial Responds to Game-Changing SBA 7(a) Fee Adjustments Effective October 1, 2023: An Unprecedented Opportunity for Aspiring Entrepreneurs
Lansdale, PA, [August 30th, 2023] — In a monumental move by the Small Business Administration (SBA), several significant changes are coming to the 7(a) loan program’s fee structure, effective October 1, 2023, for fiscal year 2024. Benetrends Financial, a trusted leader in franchise funding with over four decades of empowering entrepreneurs, is thrilled to amplify this incredible news.
We’re Amped Up, and Here’s Why You Should Be, Too!
“This is more than just a policy change; it’s a lifeline for entrepreneurs looking to make their business dreams a reality,” said Reg Byrd, President of SBA and Bank Financing at Benetrends Financial. “We couldn’t be more excited to facilitate this new wave of opportunity for our clients.”
The Nitty-Gritty: What Changed?
To clarify, these changes were initiated by the SBA and not Benetrends. The new fee structure provides notable fee reductions for borrowers, which translates to thousands of dollars in savings.
*Quick Savings Example:
For a $1M loan, the borrower will save in the range of $8,000.
For a $2M loan, the borrower will save in the range of $25,000.
*These are only estimates and are not to be considered what might be the actual outcome.
What’s Next?
We are revved up and ready to navigate these changes with you, optimizing your funding solutions like never before. As a company dedicated to transforming dreams into businesses, we invite you to become part of our exclusive community that benefits from our expertise, innovative funding solutions, and this unprecedented SBA initiative.
For more information about these game-changing SBA fee adjustments and how Benetrends Financial can propel your business dreams into reality, visit us at Benetrends.com or reach out to Reg Byrd at rbyrd@benetrends.com
**You can also visit the SBA website for more information about this change by following this link: https://www.sba.gov/document/information-notice-5000-848801-7a-fees-effective-october-1-2023-fiscal-year-2024
About Benetrends Financial
Benetrends Financial, a pioneer in the franchise funding industry, has been helping entrepreneurs successfully launch their dreams for over 40 years. With a proven track record and a unique suite of innovative funding solutions, Benetrends has been at the forefront of helping entrepreneurs secure the necessary financing to start, run, or grow their businesses. Benetrends is dedicated to providing comprehensive funding solutions, including SBA loans, securities-backed lines of credit, and more, with a focus on speed, efficiency, and flexibility. Whether you’re a first-time entrepreneur or an experienced business owner, Benetrends offers personalized guidance through the funding journey, empowering business owners to achieve their dreams.