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SBA loan statistics. According to the SBA, at the end of 2023 fiscal year:. $27.5 billion in SBA 7(a) loans was approved. Almost 70 percent of 7(a) loans were for amounts under $350,000
Beginning April 6, 2021, the U.S. Small Business Administration (SBA) is expanding its Economic Injury and Disaster Loan (EIDL) program, the organization announced in a press release. Small ...
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The SBA was created on July 30, 1953, by Republican President Eisenhower with the signing of the Small Business Act, currently codified at 15 U.S.C. ch. 14A.The Small Business Act was originally enacted as the "Small Business Act of 1953" in Title II (67 Stat. 232) of Pub. L. 83–163 (ch. 282, 67 Stat. 230, July 30, 1953); The "Reconstruction Finance Corporation Liquidation Act" was Title I ...
Establishes the creation of a $30 billion lending program for community banks with assets less than $10 billion. Increases limits on how much money a company can borrow under various Small Business Administration loan programs. Provides $12 billion in tax cuts, including a 100% exclusion of capital gains taxes on small business investments.
The program also provides support in marketing and management as well as technical assistance for microloan borrowers and potential borrowers. [1] Under this program, SBA makes funds available to non-profit community based lenders (intermediaries) that in turn, make loans to eligible borrowers in amounts up to a maximum of $50,000.
The deadline to apply for an SBA economic injury disaster loan, referred to as EIDL, which provides up to $2 million to qualifying businesses and private nonprofits, also is approaching on May 10.
Disaster loan information and application forms can also be obtained by calling the SBA's Customer Service Center at 800-659-2955 (if you are deaf, hard of hearing, or have a speech disability ...