Tuesday, April 5, 2011

Killing the goose that lays the golden egg

The Congressional Quarterly daily reports today (4/5) that "prospects of at least a temporary shutdown have surged today. Both the White House and Hill leaders are taking the situations seriously enough that they’re getting ready to sort-of lock up. This morning congressional offices (at least on the House side) were receiving a memo from the leadership telling chiefs of staff the difference between “essential” and “non-essential” employees and which House support offices could be closed. Last night the White House told top agency officials to begin making preparations for implementing a shutdown."

What that means to SBA lenders and borrowers is that no loan approvals will happen if and when the government shuts down.


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