From the Reporters
Jan 7, 2004

SBA 7(a) Loans Suspended

 

The SBA has suspended its 7(a) loan program, possibly until the end of the month, reports the Washington Business Journal. The agency reportedly backed a large number of loans since September, 37% more than the year before. At the end of December, the SBA also announced it was lowering the cap on the maximum loan size from $2 million to $750,000 (effective tomorrow).