Something Good Is Happening At The SBA

I believe we are experiencing change at the SBA, and good change at that. We are being told by banks all over the United States that the SBA is responding in record time, in some cases just weeks. Wow! Wouldn’t that be nice? A rapid response, a fair conclusion and then on with your lives!

Historically, it has taken close to a year to get a response back from the SBA with all that time spent simply waiting for one’s turn to come up. It is well known that under the Bush presidency, he allowed the SBA workforce to be reduced by approximately 30%. It is also promised that under Obama, the workforce will be restored to its full requirements which may be greater than the previous reduction of 30%. It is entirely possible that this is the reason we are experiencing such rapid responses from them. This is good news!

I cannot tell yet whether they are becoming increasingly sympathetic and reasonable, accepting the Offers in Compromise more willingly. I am hopeful but it is too early to tell that. I have quite a few in the pipeline and am waiting response so I shall soon know if the turnaround is faster and if the acceptance is more generous. I will report directly.