House Adds Funds to SBA Budget The House has voted to reduce fees on SBA’s flagship 7(a) loan program as it approved the agency’s appropriation for fiscal 2008. The House voted June 28 to add about 20% to President Bush’s budget request. It set SBA spending at $582 million. Over White House objections, the bill, H.R. 2829, includes $80 million to subsidize the loan program, making it possible to cut fees paid by borrowers and lenders. The Office of Management and Budget said the Bush administration “strongly opposes” the provision. The loan program has been funded by fees since Congress ended the federal subsidy at President Bush’s request three years ago. Democrats said the increased fees were burdensome on small businesses, but the administration countered that the 7(a) program has provided more loan dollars than ever before. The House also increased funding for small business development centers and women’s business centers. It rejected the administration’s proposal to kill the Microloan program, which provides small loans to low-income entrepreneurs. The administration charged the bill contains more than $30 million in earmarks for business development activities, money the president did not request. The Senate has authorized an increase in the SBA budget, but has not taken up the appropriation bill.