Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
SBA officially increases 504 7a loan limits
WASHINGTON (10/11/10)--The U.S. Small Business Administration (SBA) on Friday announced higher maximum 7(a) and 504 program loan limits. The increased loan sizes, which were authorized by the Small Business Jobs Act, are effective as of Friday. Under the legislation, SBA 7(a) loan limits will be increased to $5 million from $2 million, 504 loan limits will increase to $5.5 million from $1.5 million, and 7(a) "Express Loans" will increase to $1 million from $300,000. The bill also ups the definition of microloans from $35,000 to $50,000. Credit unions may participate in 7(a) and 504 SBA loans. “Across the country, there are small businesses owners who are in a position to take that next step to grow and create jobs, and these larger loan sizes provide another tool to help them do just that,” SBA Administrator Karen Mills said in a release.
Other Resources

RSS print
News Now LiveWire
With 523 shots beyond the arc @utahjazz and @MountainAmerica raise over $31k for @Huntsmancancer http://t.co/kyBqVrxjBu
12 hours ago
.@MazumaCU "We believe we owe our members a smile. That's going to be our goal every day." http://t.co/se7iSBcA63 #CUDifference
14 hours ago
.@GoBankingRates survey: #creditunions offer stronger interest rates, shutting out banks again! http://t.co/DvoQ50eI4s
16 hours ago
Prize-linked savings such as @SaveToWinMI noted by @FoxBusiness http://t.co/PF0TJANbLM
16 hours ago
My (Maine) kingdom for a 'Spokester'! http://t.co/1LQgrBvl91 #creditunion #newsnow #storytomorrow
16 hours ago