Attached is the notice that details the reactivation of the Recovery Act Loan
Queues. The queues will operate in a similar fashion as in the past. Please
note that any application that is in the Recovery Loan Queue that is funded
after May 31, 2010, will only be eligible for fee relief, unless Congress again
extends the authority for the higher 7(a) guaranty by May 31, 2010. If
Congress extends SBA authority for the higher 7(a) guaranty after May 31,
2010, only those applications received by SBA on or after the effective date of
the extension will be eligible to receive the higher guaranty.
Lenders will be able to determine where their loans are in the SBA Recovery
Loan Queue by accessing SBA Web site. The website address is
www.sba.gov/recoveryq.
Any changes that are enacted after this date will be distributed as quickly as
possible through Bank Notes. The First Thursday Ready Talk session on June
3, 2010 at 10:00 will cover the latest information on the status of Recovery
Act Loans. To access the Ready Talk session:
From your computer:
1. Logon to www.readytalk.com
2. Login as a participant using the access code 3051501
3. Enter your name, etc as requested
(It takes a bit of time for the process to start)
From your telephone:
1. Dial 866.740.1260
2. Enter the Access Code 3051501 & press #
3. Say hello!
If this is your first Ready Talk Conference, we recommend that you test your
browser compatibility and network connection prior to the conference by
logging onto the Ready Talk site and click on the Test your Computer button
under the login.
The SBA Michigan District Office
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