Regular SBA 504 Loan Program Reaches Lending Cap
504 debt refinance without expansion still has ample funding available, and will continue to issue loan authorizations and incentives
The regular Small Business Administration (SBA) 504 loan program, including 504 debt refi with expansion, has reached its congressionally authorized cap of $7.5 billion.
The annual lending budget for 504 loans has been capped at $7.5 billion since 2016. This is the first time since then funding has depleted within the allocated fiscal year (Sept. 30th – Oct. 1st).
The 504 debt refinance without expansion loan program operates with a separate $7.5 billion authorization cap, which still has ample funding available.
Loans will continue to be approved but written authorizations will not be issued until October 1st – the start of SBA’s new fiscal year. Those loan approvals will not include incentives that were in place over the last few months.
Debt refinancing without expansion is not impacted and will continue to receive authorizations and incentives.
This has been a record-setting year for the 504 loan program. Business Lending Partners and all our banking partners are tirelessly working to support economic recovery in local communities across Wisconsin by providing small businesses and entrepreneurs with long-term, fixed-rate capital to rebuild and grow.
Please contact Wesley Walsh, BLP Loan Officer at (262) 898-7436 or email@example.com, with any questions or assistance you may need
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