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Increasing the maximum loan size of 504 loans up to $5.5 million will help small businesses grow and expand their payrolls by supporting real estate purchases. And increasing the maximum loan size of SBA microloans from $35,000 to $50,000 will give a boost to start-ups and other smaller businesses.
Addressed Access to Capital: Since the beginning of 2009, through the Recovery Act and the Small Business Jobs Act, the Small Business Administration (SBA) has approved 334,815 loans, supporting close to $163 billion in lending for small businesses.
Increasing the maximum loan size of 504 loans up to $5.5 million will help small businesses grow and expand their payrolls by supporting real estate purchases. And increasing the maximum loan size of SBA microloans from $35,000 to $50,000 will give a boost to start-ups and other smaller businesses.
Loans guaranteed by SBA range from small to large and can be used for most business purposes, including long-term fixed assets and operating capital. Some loan programs set restrictions on how you can use the funds, so check with an SBA-approved lender when requesting a loan.
NASHUA, NH - Today, President Barack Obama outlined the new Small Business Lending Fund, which will transfer $30 billion from the Troubled Asset Relief Program to a new program that will support small business lending.
NASHUA, NH – Today, President Barack Obama outlined the new Small Business Lending Fund, which will transfer $30 billion from the Troubled Asset Relief Program to a new program that will support small business lending.
Make government loans cheaper: The Recovery Act, passed nearly a year ago, raised the government guarantee on the SBA's two primary loan programs, 7(a) and 504 loans, to as much as 90%....
(CNNMoney.com) -- Democratic presidential candidate Barack Obama on Friday proposed emergency assistance for small business endangered by America's financial crisis, calling for a "small...
Obama promised he would expand Small Business Administration loan programs. The SBA does not lend money directly, so these moves have the effect of expanding the program by increasing...
President Obama also threw his support behind Congressional efforts to increase the ceiling on SBA loans. Currently, the maximum loan under the SBA's major lending programs is $2 million. The...