SBA 7(a) Loans Suspended

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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).

Last updated: Jan 7, 2004




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