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WASHINGTON — The Small Business Administration’s 7(a) loan program could receive $17.5 billion and its 504 loan program would be earmarked at $7.5 billion under President Bush’s fiscal year 2008 budget.

During a Feb. 5 media call, SBA Administrator Steven Preston told reporters the proposal sets overall spending for the year at $814 million, including $464 million in new budget authority, $329 million in carryover funds for disaster loans, and $21 million in reimbursable revenues, which are activities conducted by the agency that is asking for reimbursement including fees for SBIC examinations and lender oversight for the lender/loan monitoring system and reviews, at $11.4 million and $6.4 million, respectively. Lender/loan monitoring system and review fees were authorized in December 2004 and provide authority for SBA to charge lenders for onsite and offsite lender reviews and examinations, the agency said. A final rule is currently at the Office of Management and Budget pending final approval.

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