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Short Term Fixes and Status Report
| Action to be Completed | Status | |
| Utilize TARP funds to guarantee existing lines of credit for “qualified” small businesses |
Not Done | |
| Expand the Term Asset-Backed Securities Loan Facility (TALF) program to non-bank small-business lenders |
Not done | |
| Eliminate the borrower and lender fees associated with the SBA’s 7(a) and 504 loan programs. |
Done temporarily* | |
| Increase the percentage portion of 7(a) loans guaranteed by the government. |
Done temporarily* | |
| Extend the small-business provisions of ARRA, namely the elimination of the upfront borrower fees and the increased guarantee on SBA loans |
Not yet done | |
| Increase or remove the interest-rate cap SBA imposes on lenders |
Not done | |
| Temporarily allow existing SBA 504 loan borrowers to either refinance their un-guaranteed first mortgages or obtain another bank loan that SBA would agree to subordinate to the existing 504 second mortgage |
Done | |
| Temporarily expand SBA’s disaster lending program to include direct SBA loans to small businesses suffering substantial economic injury due to the credit crunch |
Not done | |
| Create a workable term sheet for the TARP and Capital Purchase Program (CPP) for 2,500 Subchapter S banks |
Done | |
| Mandate that 23 percent of any infrastructure stimulus funds be contracted out to small businesses and repeal the 3-percent withholding requirement. |
Not done | |
| Mandate that Treasury require banks that receive any future TARP funding dedicate at least 25 percent of those funds to expand their small-business lending |
Not done | |
| Increase the maximum size of SBA loans to $5 million |
Not yet done | |
| Expand eligibility for TALF beyond SBA loans and AAA-rated securities |
Not done | |
| Expedite the Federal Deposit Insurance Corporation (FDIC) review and approval process in order to eliminate the backlog of potential TALF recipients |
Not done |
*Completed Under American Recovery and Reinvestment Act (ARRA)