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Sba’s Regular 504 Program Reaches Authorized Lending Cap
The SBA 504 loan program has reached its lending cap of $7.5 billion. The SBA will continue accepting, processing, and decisioning loan applications and communicating those decisions . However, the SBA will not be able to issue a loan number and authorization until funding authority is reset on October 1, 2021, unless Congress acts sooner to address this temporary pause. Fiscal year 2020-2021 has been a record-setting year for the SBA 504 loan program.
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