SBA Region VII head speaks to Mo. bankers

Bruce Kent, administrator of the U.S. Small Business Administration's Region VII, addressed the Missouri Independent Banker's Association Sept. 18. Kent outlined the two new loan projects, SBAExpress and SBALowDoc, that are designed to streamline the application process for government guarantees of lender loans to small businesses.

The SBAExpress loan will be available Oct. 1 to most lenders. It is an extension of the Fastrak loan program.

Kent's address coincided with a national announcement on the programs from the White House.

"These changes will further enhance the access of capital and credit to small businesses and strengthen SBA's lending partnerships especially as interest rates remain stable or possibly will be reduced. This means the possibility of more small business development and more jobs created," Kent said.