Fee waiver a good move



    West Michigan small business owners recently had the unprecedented opportunity to take part in the U.S. Small Business Administration Recovery Lending Program, which offered a waiver of the loan fees normally paid by borrowers.

    As businesses played “beat the clock” to have funding approved before fees were reinstated, Washington saw the positive results of the SBA program, and in a bipartisan vote approved a temporary funding bill to continue waiving the SBA loan fees, which the president signed on March 2.

    Waiving the fees will ensure that West Michigan business owners will have access to the capital needed to continue to drive the West Michigan economy.

    Phil DeVries
    Market Manager
    The Bank of Holland

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