The SBA 7(a) loan program, popular with those funding small businesses, may be headed towards a shutdown. The loans help people expand, acquire, or start a small business.
Right now the cap for a SBA 7(a) loan is $2 million. This year bills to up the limit to $3 million have been introduced in Congress and the Senate. Numbers of 7(a) loans have dropped 36% since 2002 in favor of smaller Community Express loans.
For much larger amounts, the SBA's 504 program is capped at $4 million and is for real estate and equipment loans for small manufacturers.
Find out what you need to know to get a
SBA loan.
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