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.